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Author: them Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: "Beginning of Year Capital Balance" Date: 4/7/2005 2:52 PM
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I'm sure this is a stupid question, but I'm trying to knock out our taxes while home with the flu, and hoped to presume on some kind soul here to help me settle my brain.

TurboTax Business, while entering the partners data while doing our tiny LLC's 1065, asks for the "Beginning of Year Capital Balance". It mentions that this can be gotten from the "End of Year Balance" from our 2003 return - but I don't see such a line anywhere on our 2003 returns.

What is it TT wants and from what form? Net income? Total Business Income? Net Business Income? Total Distributive Income? The sum of our checking and savings accounts?

If it helps, the business had been pretty much in a holding pattern in 2004 grossing only a few bucks, with a tax loss of a bit less than a grand for 2004. We did more work in 2003 and will continue in 2005 - 2004 was spent mostly mulling over whether we want to continue this part-time endeavour. (yes, but on a small scale)

FWIW, I temporarily left the field blank and TT reported no errors when running the final error audit.
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