C-Corp Conversion to S-Corp Balance Sheet

obaidasif · Feb 19, 2020 3:42:08 PM

<P>Once a 2253 is approved, how is the conversion accounted for on the balance sheet? How is the transfer of accounts made to a 1120S especially retained earnings accounts on M1, M2 and schedule L? </P>

tianwaifeixian

Level 4

Is 8606 generated by TT wrong?

in Get your taxes done using TurboTax

RicsterX

Returning Member

Help with Partners' Capital Acount!

in Business & farm

tianwaifeixian

Level 4

I am so confused on 8606 form. Can anyone help me?

in Get your taxes done using TurboTax

veronnieacobb

New Member

If your balance sheet is out of balance, how do you move forward & get to the next step???

in Business & farm

Divideby7

Level 1

ex employer traditional 401k to Roth IRA conversion and also trying to do backdoor Roth IRA. What are the Tax Implications?

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