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    carolpaniccia
    New Member

    TT is not adding my assets and liabilities correctly and I cannot override the field. What do I do? Corporate taxes are due December 31.

    The prior year figures added correctly but current year's do not. It's bizarre and I have tried everything humanly possible to fix it.

    posted
    ‎October 30, 2019 6:08 AM
    last updated ‎October 30, 2019 6:08 AM
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    Accepted Solutions
    TurboTaxJeffrey
    New Member

    TT is not adding my assets and liabilities correctly and I cannot override the field. What do I do? Corporate taxes are due December 31.

    If the shareholder owes the company, that is not a liability...it is an asset.  Create an asset account "Due from Shareholder."

    View solution in original post

    ‎October 30, 2019 6:08 AM
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    3 Replies
    carolpaniccia
    New Member

    TT is not adding my assets and liabilities correctly and I cannot override the field. What do I do? Corporate taxes are due December 31.

    Liabilities is a negative amount as shareholder owes company as opposed to Due To SH.
    ‎October 30, 2019 6:08 AM
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    1,462
    Reply
    carolpaniccia
    New Member

    TT is not adding my assets and liabilities correctly and I cannot override the field. What do I do? Corporate taxes are due December 31.

    I did a test. I made Liabilities "0" so total Equity should be the same as total Assets. It's still wrong! TT is broken.
    ‎October 30, 2019 6:08 AM
    0
    1,462
    Reply
    TurboTaxJeffrey
    New Member

    TT is not adding my assets and liabilities correctly and I cannot override the field. What do I do? Corporate taxes are due December 31.

    If the shareholder owes the company, that is not a liability...it is an asset.  Create an asset account "Due from Shareholder."

    ‎October 30, 2019 6:08 AM
    0
    1,463
    Reply