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Get your taxes done using TurboTax
Your best option is to recreate Schedule M-2 for each year since inception, especially the Smart Worksheet for computing tax-basis net income. Without capital contributions/distributions, the likely source of your outage would be net income or timing differences.
Did your beginning balance carry over correctly from last year? In other words, is Schedule L Line 21 column (b) this year the same as column (d) last year? If your beginning balance doesn't tie, you won't be able to reconcile the current balance sheet.
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ā€ˇFebruary 22, 2024
7:51 AM