at the end of the year there would likely be
1) cash
2) building cost
3) accumulated depreciation on 2)
4) other assets - not amortizable
5) other assets amortizable
6) accumulated amortization on %
2 and 3 and 5 and 6 should be automatic from the depreciable properties entries
1 + 2 - 3 +4 + 5 - 6 is total assets - automatically computed
7) mortgages payable
😎 other liabilities
Total assets - 6 - 7 is his equity at the end of the year
however this needs to be broken down between undistributed earnings/loss since inception - the accumulated adjustment account - AAA (can't be negative at the start of the year M-2 line 1 column a)
and his other equity like cash he bit in for down payments on the property.
there is no easy way to determine these numbers except by going through the k-1s for every year the S-Corp was in existence. If it wasn't always an S-corp that complicates matters.
as a suggestion and no assurances that the correct number would be arrived at. the AAA at the beginning of the year would be the net income minus the net loss reported on all the k-1's from inception through 2022 and minus any distributions to shareholders and minus any expenses reported as non deductible through 2022. the total of non taxable income goes in M-2 column d - other adjustment account (OAA)
his equity at the beginning of the year would thus consist of the beginning AAA account the beginning OAA account and the difference as paid in capital line 23 of the 1120S schedule L
there can be many reasons why the numbers don't come out. in this case, you need to use a tax pro who can go through the returns and k-1s. hopefully, your husband kept copies of these for all years.
