sjrcpa
Level 15
12-07-2019
12:11 AM
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There is no AAA on Schedule L. Schedule L has Retained Earnings. Yiu are correct that AAA and Retained Earnings need not be equal. RE could be accrual, entity may not always have been an S Corp, some shareholders may have left requiring AAA adjustments, there could be Other Adjustments, etc.
The more I know the more I don’t know.