topic Scorp Schedule L Balance Sheet in Business & farm

Scorp Schedule L Balance Sheet

Mood1 — Fri, 05 Mar 2021 00:17:31 GMT

First year as Scorp was 2019, and I have two issues with Schedule L balance sheet. 1. For Capital Stock had 1,000 in 2019. Does this number carry over to 2020 Capital stock as nothing has changed? 2. For Additional Paid-in Stock had $15,000 in 2019. I haven't paid anymore in 2020 so does this number carry over to 2020 or do I put $0?

Re: Scorp Schedule L Balance Sheet

Anonymous_ — Fri, 05 Mar 2021 05:53:02 GMT

Those figures should transfer from the 2019 version of TurboTax Business.

Re: Scorp Schedule L Balance Sheet

Mood1 — Fri, 05 Mar 2021 15:00:29 GMT

I didn't use TurboTax Business in 2019. So those same numbers for Capital Stock and Additional paid-in capital in 2019 do carry over from year to year?

Re: Scorp Schedule L Balance Sheet

Anonymous_ — Fri, 05 Mar 2021 15:29:52 GMT

Yes. Note that you may not need to complete Schedule L.