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Level 2
posted Mar 30, 2020 8:08:27 AM

1120S tax return

My QuickBooks Income statement balances with Balance sheet but Turbo tax continues to say that my income statement is out of balance.  I understand that Turbo Tax support knows about this and needs to share a calculation to cure this known glitch in the system.

 

What is this please???

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1 Replies
Expert Alumni
Mar 30, 2020 8:29:10 AM

TurboTax Free Guarantee: $0 Federal + $0 State + $0 To File offer is available for simple tax returns with TurboTax Free Edition. A simple tax return is Form 1040 only, without any additional schedules. Situations covered include:

 

  • W-2 income
  • Limited interest and dividend income reported on a 1099-INT or 1099-DIV
  • Claiming the standard deduction
  • Earned Income Tax Credit (EIC)
  • Child tax credits