Skip to main content
March 22, 2021
Question

Cost of treasury stock

  • March 22, 2021
  • 1 reply
  • 0 views

I am an S Corp.

Importing from Quick Books , the cost of Treasury Stock is brought in as a negative number.  TurboTax then seems to subtract the negative number which increases, rather than decreases, the amount of capital. 

How/where in TurboTax do I correct this? 

1 reply

M-MTax
March 22, 2021

Reduces equity......https://www.accountingtools.com/articles/where-does-treasury-stock-appear-on-the-balance-sheet.html

Presume you would have to enter this yourself as QB transfers sometimes are wonky.