I am getting a $1.00 error on my Turbotax Business federal return. Beginning balance $1,728 and Ending balance of $5,531 - retained earnings calculated to $3,804. ???

[Bsch4477]

Probably a rounding error. 

[television11]

I am sure it is - within TurboTax - I don't see any method to get to support to report this.

[AliciaP1]

If you are saying there is a $1 rounding issue in your Retained Earnings, you shouldn't be entering your retained earnings ending balance.  It should be entered by the system from the entries you have already made to report your tax return.  You need to go back to the balance sheet entry and delete your entry for retained earnings and the rounding error should go away.  If it does not, you can change the balance on one line by $1 to make the correction.

To get back to your balance sheet entry in TurboTax Business, go to the Federal Taxes tab and Balance Sheet.

@television11 

[television11]

I didn't enter retained earnings - the system computed that. I have changed beginning balance, ending balance, expenses by $1 and nothing fixes it. I even ended up with a $0 difference and it said it was out of balance. It really appears to be an application bug.

[RobertB4444]

Rounding errors are an annoyance that comes with the system.  The IRS rounds everything to the nearest dollar and so TurboTax does too.  It can make everything a little difficult.

The easiest fix is to add or subtract a dollar from your bank account balance to get it to match.  The more difficult fix is to go back through the income and expenses that you entered and round each one to the nearest dollar.  The error you're getting even after fixing the difference is because of some change hanging around somewhere.  Once you've rounded each individual income and expense entry to the nearest dollar you may still have a rounding error.  At that point it will be easily fixed by adding or subrtracting a dollar from an expense here or there.

@television11