1120S Retained Earnings

[bobkap]

I'm trying to complete my 1120S for my Sub S LLC business.  I cannot balance the balance sheet as reference is made to reconciling my Retained Earnings account, but as a Sub S I do not have a retained earnings account.  How do I handle this please?

[Anonymous_ · Accepted solution]

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@bobkap wrote:

How do I handle this please?

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You need to adjust your balance sheet manually, but you will probably discover that you are out of balance, with respect to RE, by the amount of ordinary business income (Line 21 of your 1120-S) that you did not actually distribute to shareholders.

[toluadeb1234]

I am having similar, and I clicked on the link to solution but keep coming back to same post without solution. Also found a link to distributions to shareholders, but it only applies to 2019 income. In my case I was able to balance my 2019 it was my RE for 2018 incomes that's showing 0.