topic Balance sheet 1120S in Business & farm

Balance sheet 1120S

user17723024898 — Sat, 28 Feb 2026 18:17:53 GMT

I purchased another rental property and have entered everything but I do not know how to make my balance sheet correct. Do I have to manually enter something? I thought Turbo T ax would transfer all necessary info? Perhaps "Additional Paid in Capital "has to be manually changed?

Re: Balance sheet 1120S

M-MTax — Sat, 28 Feb 2026 18:31:24 GMT

Balance sheet issues are problematic from a number of different perspectives but TurboTax Business only handles a few entries properly (or at all).

Forms Mode is typically required to make adjustments.

Re: Balance sheet 1120S

user17723024898 — Sun, 01 Mar 2026 00:06:16 GMT

Yes, I get that, but should I enter the "out of balance" difference in paid in capital or retained earnings?

Re: Balance sheet 1120S

M-MTax — Sun, 01 Mar 2026 00:15:05 GMT

@user17723024898 wrote:
Yes, I get that, but should I enter the "out of balance" difference in paid in capital or retained earnings?

I understand that you get it BUT that's the problem. No one here can see your balance sheet and other figures, M-1, and M-2. Without which it's difficult to provide any sort of reasonable answer.