How does Turbotax Business consider the difference between the Investment Tax Basis and Investment Value of stocks?

[dmachado17]

In 2019, my accountant added an amount to my business return Balance Sheet.  In doing 2020 Turbotax, my prior year balance sheet is showing out of balance by this exact amount.  How do I add this to Turbotax so that the balance sheet is in balance?

[tagteam]

Go to the Balance Sheet section of the program and select Guide Me.

[dmachado17]

I know where to enter it.  My question is that the number on my 2019 Balance Sheet for Total Liabilities and Capital includes a Journal Entry the accountant did to reflect the Market Appreciation of my investments.  So now, when I enter the 2019 Total Liabilities and Capital number into this year's Turbotax program, the Balance Sheet function says I am out of balance by the exact amount of the Journal Entry.  Turbotax only asks me for the final number from my 2019 return, and the beginning and ending balance of the investments in 2020, it tells me my 2019 balance sheet is off by the exact amount of that Journal Entry, and I don't know how to correct it, unless I enter a Total Liabilities and Capital number that is reduced by the amount of the Journal Entry....but now does not match the prior year return.   

[tagteam]

Unless you want to reverse the entry your accountant made, you need to adjust owner's equity for the unrealized gain.