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I find that hopeful, because if they find the problems this early, odds improve that those are fixed before it is released.

I hate the horizontal entry. Too much scrolling, and it's impossible to see the whole entry screen. At least with Sch. D/8949 I've got a choice to use the entry screen or the detail screen.

They'll match on Sch B. I'd do it as dividend received and use the 'adjustments' box.

I agree with Jack. Had one these last year. Read Pub 4681 which is fairly well written and some detailed examples.

The increase in shareholder loan and APIC doesn't affect the AAA at all, they only affect the shareholder's basis. To be sure that I'm completely in balance, I always opened the "Options" tab in the 1120S form of ATX and checked the box to force completion of the balance sheet and M-1 so that I could view it on the screen, do my final review, sometimes would print pg 4 of the 1120S for my file, and then uncheck the box before filing. Unless you are keeping the books on the tax basis of accounting and not GAAP, it is entirely possible, and not even unusual, to have a different AAA for tax than AAA per books because of temporary timing differences. Those are the same as for C corps (tax vs book deprec, bad debts, acc'd shareholder distribs, sec 263 inventory adjustments, accr'd shareholder salaries, accr'd vacation pay, cap lease amort and interest, rent adjustment under sec 267, and accumulated timing diffs from prior years that haven't yet reversed. Permanent differences arising from nontaxable income and nondeductible expenses are on Sch K and flow through to M-1 and M-2, and these do not cause differences in the AAA and retained earnings. Joan, I think you are missing that ATX does have a worksheet to record the timing differences, if any, because ATX does allow for this. If you click on a line in the balance sheet on pg 4 it takes you to the balance sheet input. On that screen, you will note that the ending retained earnings line is white and doesn't allow for input, but it has an arrow that will "jump" to another worksheet where these timing differences can be entered. I hope this helps, and I hope you are really in balance at this point, but your statements about the change in shareholder loan and APIC have me wondering.

Well I had to plug equity since ending AAA doesn't equal RE and ATX doesn't allow for a difference while TT does. Yucko. BUT I did calculate beginning AAA which brought the equity difference down to the increase in the shareholder loan and APIC for this year. Or should those go into AAA as another increase? Doesn't seem right. I'm pretty fried at this point. Got the basis straightened out too, and hallelujah! He has some basis remaining, so the losses on the individual returns were all ok. But this is my last corp, and I'm going out with friends tonight. Sending this sucker out tomorrow and then....its back to the individuals..

Yes QB has its own good points and headache spots. The case I mentioned the guy split opening equity between the two owners and their two businesses -- when it was loans, not cash, from one shareholder's family members, to be repaid with interest, and split unequally between the two businesses. Plus two bank loans (one for each business) that he split both, equally, between the two. It was a nightmare. Thanks heavens for hair dye, is all I can say.

Catherine's story sounds pretty bad. I'll tell a quick story of how it could be thought that I'd made mistakes like that if another preparer were to follow me on one particular client. This is one of my largest business clients, C corp, a retailer with multiple store locations, larger # of vendors, uses QuickBooks and has a full time bookkeeper. Bookkeeper is pretty good and calls me when she doesn't know how to post. This client gets a review financial statement because of large line of credit with the bank. One thing bookkeeper & QuickBooks did that threw prior year numbers out of whack for a/p, retained earnings, several cost of sales accounts, and net income was the way she was entering vendor credits issued many months after year-end. Some of the company's vendors allow very generous terms where payments are spread over 6 months or more, and company always has purchases from these vendors just before their year end because of a large trade show held shortly before that date. The vendor credits occurred after I've completed my work and issued the statement and tax return, and the credits offset a portion of the unpaid balance on invoices for purchases prior to the year end I'd completed. The bookkeeper entered the invoice number to be offset and QuickBooks put that credit in the prior year because I believe that QB defaulted to the original invoice date when the original invoice number was used to enter the credit. A year went by and I arrived to start the next year's review work. I pulled my hair out to find why the opening retained earnings in the company's general ledger no longer tied to the ending retained earnings in my workpapers for the prior year. Bookkeeper and I have resolved this, but once in a while something like this occurs in QuickBooks where a date might be input wrong when entering. If another preparer had picked up this job and printed reports from the company's system, it would have definitely looked like I issued the report and tax return using incorrect figures. I love the flexibility that QuickBooks allows, and in the right hands it can be a wonderful tool. Used incorrectly, or by someone inexperienced or not paying attention, it can create a lot of headaches.