Turbotax business 2024 Form 1120S schedule L Line 10b column d

[the_emperor]

I think there is an error on Turbotax business 2024 Form 1120S schedule L Line 10b column d

my 2023 form calculation for Line 10b column B was correct

205,000 - 93,080 = 111,920

But why is this year column D -98,337 instead of 205,000 - 98,337 = 106,663?

i check my 2022 schedule L, it was calculated the way i think it should. only this year it did not add up. 

thank you

[KeshaH · Accepted solution]

Your ending depreciable assets balance may have carried over automatically from the beginning balance and TurboTax may be reading it as a zero. To fix this:

- Click on Step-by-Step in the top right corner.

- Choose Federal Taxes and then Balance Sheet

- Click Edit next to Balance Sheet and then click Quick Entry.

- in the second column, enter 205,000 as the ending balance for your Buildings and other depreciable assets.

- Click Done. Ensure your total assets on this screen are correct. Based on the screenshot you provided, your total ending assets should be $858,816.

[the_emperor · Accepted solution]

Hi, 

the column do have that same value $205000

but re entering it corrects the problem. 

thank you.