1065 Balance Sheet
ProSeriesFor a LLC Partnership Return, I'm getting an error message (recourse vs. non-recourse) when I enter a payables liability on the balance sheet. Where do I enter A/P or current liabilities on balance sheet?
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02/15/11 5:47am PST
Viewed by asker 03/20/11 6:40am PDT
Viewed by asker 03/20/11 6:40am PDT
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Accountant Man
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02/15/11 6:12am PST
The solution
Payroll liabilities are recourse. Enter on line 17, other current liabs.
If you use Pro Series Basic I might not be able to help you. If you use Turbo Tax I might refuse to help you. All others, watch out! ;-)
02/15/11 12:16pm PST
Latest post
Payroll withholding liabilities are recourse. If you are accruing other payroll liabilities they may not be recourse.
