When entering loan information do you take a note and separate it from what is due in 1 year and what's due in more than 1 year? Lines 17 & 20 or would the entire loan balance if it is due in more than one year be put all in line 20?
I do, but only because of occasional push back from lenders reviewing the balance sheet for current/long-term ratios. I had 'one' years ago where the lender insisted on an 'amended' return. I amended it for the lender; didn't file it with the IRS. And I only did it 'cuz it was a really good client 😉
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