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Why are total expenses less by $300 on 1120S than they should be

deniserevell3
Level 2

My QBO tax prep shows the same amounts as my P&L and BS but the total deductions  on 1120S line 21 are $300 less than they should be.  The only nondeductible expense is $496 (50% of $992 (meals)).  I wonder if Proconnect is miscalculating the deductible amount  (80% rather than 50% than I input)  992 x .80 = 793.60 as the difference is 796 (53982-53186).  

0 Cheers
2 Comments 2
George4Tacks
Level 15

Did you input or did you import data?

Look at the input and see where the deduction for meals is entered.

Screenshot 2024-07-05 073245.jpg


Here's wishing you many Happy Returns
sjrcpa
Level 15

If that's not it, you'll need to go through the return line by line to see what is wrong.

Of course you always review the return any way, don't you?


Ex-AllStar