Unfortunately, TaxSlayer Pro Support cannot assist with reconciling the Schedule L - Balance Sheet on any of the entity returns since only the entity's bookkeeper or accountant has the records and information that are needed to determine why the entity's assets do not equal the liabilities and equity accounts.
Note: The tax program only automatically pulls certain items to the Schedule L - Balance Sheet, and most entries must be manually made in the program directly from the entity's accounting records.
TaxSlayer Pro Support also cannot assist with reconciling the Schedule M-1 and Schedule M-2 with book income, or the Equity or Capital account balances contained on the Schedule L - Balance Sheet on any entity returns (1065, 1120-S, and 1120). These reconciliations require the accounting records and information that are in the possession of the entity.
These sections of the tax return are used by the IRS to verify the accuracy of the tax reporting because analyzing the changes to the equity accounts should be consistent with the income reporting and the balance sheet (Schedule L).
Reminder: Schedule L is not required for any entity whose total receipts for the tax year and total assets at the end of the tax year are less than $250,000.