by Omar » Wed Dec 07, 2016 10:33 pm
s About Taxes)/Form 1120S, Schedule L Advertisement Expert: John Stancil, CPA - 1/31/2009 I am attempting to prepare my own corporate tax returns through Turbo Tax Business. I do not understand where the figures come from in Schedule L, particularly cash at the beginning of the year and end of the year. Do I just take that from my available balance on my bank statement? Item 7 asks for loans to shareholders. Previously I had an accountant prepare my returns, but when he failed to do so for 2007, I thought I would attempt to prepare them myself. Is the loan to shareholder number the interest paid or fee paid for any loans I may have obtained over the year for which I am preparing? Basically, I cannot understand where just about all of the figures are arrived at. Any general assistance you can render would be most appreciated.