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C
Countingcat
Employee
February 20, 2021
Question

Retained calculations for s corp

  • February 20, 2021
  • 1 reply
  • 0 views

Should should shareholder contributions be figured in retained earnings?  My balance sheet shows them but Turbo Tax does not include them in retained earnings.

1 reply

A
Anonymous_
Employee
February 20, 2021

TurboTax Business does not handle the balance sheet automatically in many instances. Typically, you need to enter figures in Forms Mode.

 

Regardless, contributions by existing shareholders are usually entered as APIC.

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