Question
Why are total expenses less by $300 on 1120S than they should be
My QBO tax prep shows the same amounts as my P&L and BS but the total deductions on 1120S line 21 are $300 less than they should be. The only nondeductible expense is $496 (50% of $992 (meals)). I wonder if Proconnect is miscalculating the deductible amount (80% rather than 50% than I input) 992 x .80 = 793.60 as the difference is 796 (53982-53186).
