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1120-S
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sffdib
Level 5
08-24-2023
09:46 AM
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Form 1120-S, schedule L
Need to make an adjustment to prior year Line 21, schedule L, Form 1120-S, retained earnings. Both prior year Capital Stock and Retained earnings were combined. They need to be separated on line 22 and line 24 on current year. Any idea on how to adjust prior year retained earnings and Capital Stock? QuickBooks is correct, both numbers are combined on prior year tax return.
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Jim-from-Ohio
Level 11
08-24-2023
10:36 AM
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in the current year program that you are in you should be able to simply change the prior year balance sheet numbers.
sffdib
Level 5
08-27-2023
02:29 PM
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Yes, I could do that. Maybe I am just over thinking it.
