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T
TFV
Level 2
June 2, 2026
New

Sub S Assets

Related products:ProSeries
  • June 2, 2026
  • 3 replies
  • 38 views

Why does Pro Series ask you for Total Assets when your receipts are less than $250K and you check the box to suspend Sch L and M-1 calculations?

3 replies

Jim-from-Ohio
Jim-from-OhioIntuit Community Champion
Intuit Community Champion
June 2, 2026

The front page of the 1120S requires it.

    T
    TFVAuthor
    Level 2
    June 3, 2026

    That’s my point. If you’re not required to complete the balance sheet, why would you have to enter total assets??

    Jim-from-Ohio
    Jim-from-OhioIntuit Community Champion
    Intuit Community Champion
    June 3, 2026

    That was my point as well.  Total assets still show up on the front page of the 1120S, Box F.  Without fillng out the balance sheet, the amount of total assets has to be entered in the program to populate Box F.

     

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