You'll need to sign in or create an account to connect with an expert.
You can try resolving the issue in Forms Mode but you may have to contact Support (link below).
Balance sheet issues are difficult to troubleshoot in a Q&A forum such as this one.
You can try resolving the issue in Forms Mode but you may have to contact Support (link below).
Balance sheet issues are difficult to troubleshoot in a Q&A forum such as this one.
Thanks for responding. Balance sheet issues are definitely challenging.
It was our fault. Our PPP loan forgiveness was incorrectly entered since it took place the prior year. The amount was being added to the retained earnings when it shouldn't have even been there. We couldn't tell it was part of the retained earnings calculation. We now need to remove it and file an amended return. Thanks again for your help.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
TaxDonor1
Level 2
anthonyho
New Member
shmc
Returning Member
mdevine486
New Member
markjams16
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.