Sch. L, Line 24, Col b, last year's retained earnings

[ac-control]

Where in TT can I find the source of this number?  How can I change it?

[Anonymous_]

That is your beginning of the year retained earnings.

Did you transfer in your 1120-S (prepared with TurboTax Business) from the 2021 tax year?

[ac-control]

Yes, I did. It was wrong last year and I do not want to repeat that same error.

[PatriciaV]

As @Anonymous_ said, Sch L Line 24 Col B (Retained Earnings) is carried over from your prior year Form 1120S and cannot be changed. 

You can enter Adjustments to Shareholders Equity (a Balance Sheet item). But if you have more than one shareholder, you'll also need to include an allocated adjustment on each Shareholder's Basis Worksheet. This information is needed to assist the shareholders in preparing Form 7203 that is part of a personal tax return.

Your other option is to remove Schedule M-2 from your return. Click on Forms in the TurboTax header. Look for Form 1120S p3-5 in the left column. Click the form name to open it in the large window. Scroll down to Schedule M-2. Check "No" for both questions at the top of the schedule. Scroll up to Schedule L Line 24 and enter your Retained Earnings for this year.

See also: How do I turn off the balance sheet?