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March 5, 2021
Question

Scorp Schedule L Balance Sheet

  • March 5, 2021
  • 1 reply
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First year as Scorp was 2019, and I have two issues with Schedule L balance sheet. 1. For Capital Stock had 1,000 in 2019. Does this number carry over to 2020 Capital stock as nothing has changed? 2. For Additional Paid-in Stock had $15,000 in 2019. I haven't paid anymore in 2020 so does this number carry over to 2020 or do I put $0?

1 reply

Employee
March 5, 2021

Those figures should transfer from the 2019 version of TurboTax Business. 

Mood1Author
March 5, 2021

I didn't use TurboTax Business in 2019. So those same numbers for Capital Stock and Additional paid-in capital in 2019 do carry over from year to year?

Employee
March 5, 2021

Yes. Note that you may not need to complete Schedule L.