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Returning Member

Brain dead balance sheet question (Corp TurboTax)

Sorry, I feel I'm missing something here,  but I have a basic situation filing first year corp taxes.


Balance sheets

Assets: Cash $28k

Liability:  $55k shareholder loan (one shareholder loaned the money)


.... can't make that balance.  The balance sheet was unbalanced the second we paid a bill.  We had lots of bills in starting off that reduced cash and didn't net any asset changes.


The software is warning me against submitting a return with an unbalance







1 Reply

Brain dead balance sheet question (Corp TurboTax)

Thank you for contacting TurboTax for your Incorporated tax questions. Please be advised that our ProFile team is responsible for responding to your concerns and to help troubleshoot your issues.


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