2024 Business software for S-Corp issue

Forum|Forum|1 year ago
January 21, 2025
1 reply
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Anyone encounter a software glitch on the Schedule L (Balance Sheet) section? The Total Assets don't balance with Liabilities and Equity since Accumulated Depreciation isn't subtracted from Buildings and Depreciable Assets to arrive at remaining EOY Depreciable Asset Balance. Instead, TT carries the Accumulated Depreciation as the EOY Asset Balance, which creates the error. Contacted TT support, who was totally useless and tried to blame the out of balance amounts to my bookkeeping. Don't know what to do since TT support doesn't understand accounting.

Best answer by AnnetteB6

In order to take a closer look at the situation you described, it would be useful to have a diagnostic copy of your tax data file. The diagnostic file will not contain personally identifiable information, only numbers related to your tax forms.

If you would like to provide us with the diagnostic file, follow the instructions below and post the token number in a follow-up thread.

Using TurboTax Business, follow these steps:

Select Online at the top of the screen.
Select Send Tax File to Agent.
Click OK.
Post the token number here.

AnnetteB6Answer

If you would like to provide us with the diagnostic file, follow the instructions below and post the token number in a follow-up thread.

Using TurboTax Business, follow these steps:

Select Online at the top of the screen.
Select Send Tax File to Agent.
Click OK.
Post the token number here.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

KenBruinAuthor

Token1045849345-66376357

Thanks.

AnnetteB6

Thank you for sharing your token number. Unfortunately, the system thought it looked like a phone number and it was automatically redacted. Would you please share it again, perhaps using words?

@KenBruin

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"