Turbo Tax 2024 Business Software

[CamillaLFrancis]

Both the 1040 S and the 1065 Schedule L line 9b(d) are not calculating correctly.

example

         (a)                          (b)                           (c)                            (d)

9a 166,028                                              166,028

9b   64,032              101,996                   68,289                    -68,289     (d) should be 97,739 

14                              134,422                                                    -36,043    (d) should be 129,985

Both my Balance Sheets for S-Corp & LLC are out of balance due to miscalculation

[AnnetteB6]

The experience you described is being reported to the development team for Form 1120-S.  

However, in order to get the same consideration for Form 1065, it would be helpful to have a diagnostic copy of your tax data file.  The diagnostic file will not contain personally identifiable information, only numbers related to your tax forms.  

If you would like to provide us with the diagnostic file, follow the instructions below and post the token number in a follow-up thread.

Using TurboTax Business, follow these steps:

• Select Online at the top of the screen.
• Select Send Tax File to Agent.
• Click OK.
• Post the token number here.

[CamillaLFrancis]

Token Number:  200589973-89368623

[AnnetteB6]

A program update was recently released that seems to have corrected the issue you experienced.  Testing the diagnostic file you supplied yielded no errors in the balance sheet.

Feel free to let us know if you are still experiencing an issue.  

@CamillaLFrancis