If I make an "Other retained earnings" adjustment for my M-2 schedule it causes my balance sheet to be out of balance by the adjustment amount in retained earnings. Any way to fix that other than just overriding retained earnings?
Somehow I have a feeling we need more detail about the beginning and ending you're trying to achieve, what happened that makes you feel you have to do something with "other retained earnings," what you think you should end up with, how it actually ends up, etc.
I have a book/tax timing difference that I need to account for. Over the years, I had assets that were being depreciated for book purposes but were 179'd for tax purposes. The assets were sold and I need to clear the difference created in my other retained earnings column for California especially.
If the assets were sold in the current year, the book/tax/CA differences should be current year M-1 items, not M-2s.
