Form 1120s schedule L line 1 - HELP

Forum|Forum|3 years ago
March 5, 2023
1 reply
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TT has my "cash" line 1 incorrect for beginning of tax year. It will not let me click on it and correct it. Is it pulling that number from somewhere else? Where do I go to make the correction?

Anonymous_

Employee

You should be able to enter your beginning cash in the Quick Entry section for your Balance Sheet.

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PTGeekAuthor

turns out the issue is in my retained earnings from start of year (line 24). I cannot click on that field and adjust it. Is that pulling in from last year's info or can I manually adjust it?

In the quick view it says "edit this box in the retained earnings reconciliation"... where is that??? I am so close 😞

Anonymous_

Employee

Those figures are definitely being pulled in from last year if you transferred your 2021 1120-S prepared with TurboTax Business into the 2022 edition. Were your ending figures inaccurate?