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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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I NEED to finish my 1065 taxes, I have questions about my

Customer Question

I NEED to finish my 1065 taxes, I have questions about my balance sheet which is not in balance, I did it something wrong and I need your help
Submitted: 1 year ago.
Category: Tax
Expert:  PDtax replied 1 year ago.

Hi from Just Answer. I'm PDtax. I can assist.

Can you describe your problem, and I can assist.

Customer: replied 1 year ago.
tthank you so much, somebody else helped me 2 days ago but I still cant finish my taxes...I have my expenses and income and beginning + end cash. Also the partners capital from last year. Now my balance sheet is not in balance neither the end nor the end of the year
Customer: replied 1 year ago.
Do you need the exact figures?
Customer: replied 1 year ago.
I understand the formula : ASSETS = LIABILITY + EQUITY, but my balance sheet is not in balance..
Expert:  PDtax replied 1 year ago.

Perhaps I have an easy solution.

The partnership might not have to complete the balance sheet, if it satisfies the conditions on Schedule B, Line 6. If you meet all 4 conditions, you can just pass on doing the balance sheet.

Check it out. If you qualify, great. If not, I have another solution to try.