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Balance Sheet rounding adjustment in ProConnect Tax
by Intuit• Updated 1 month ago
ProConnect Tax uses a balance sheet rounding amount of $5. This means if the balance sheet is out of balance by $5 or less, a rounding adjustment will be generated to let them to balance. If you want a different amount for rounding, or want zero rounding, follow the steps below:
S-Corporate (1120S)
- Go to the Input Return tab.
- On the left-side menu, select Balance Sheet, M-1, M-2, M-3.
- Select Balance Sheet Miscellaneous.
- Enter the Balance sheet rounding amount (-1=none) [Override].
Corporate (1120)
- Go to the Input Return tab.
- On the left-side menu, select Balance Sheet.
- Click on Balance Sheet Miscellaneous.
- Enter the Balance sheet rounding amount (-1=none) [Override].
Partnership (1065)
- Go to the Input Return tab.
- On the left-side menu, select Balance Sheet, M-1, M-2.
- Select Balance Sheet Miscellaneous.
- Enter the Balance sheet rounding amount (-1=none) [Override].
Exempt Organization (990)
- Go to the Input Return tab.
- On the left-side menu, select Balance Sheet.
- Select Balance Sheet.
- Across the top, select Options, Overrides &...
- Enter the Balance sheet rounding amount [Override] (-1 if none).