Income/Loss Reconciliation for Schedule K for 1120S I have trouble understanding #18 Reconciliation for Scheduke K for 1120S form. And it asks me to " Combine the amounts on lines 1 through 10 in the far right column. From the results, subtract the sum of the amounts on lines 11 through 12d and 14I". This is more confusing to me since I usually put down those non-zero numbers on the left column and leave the far right column blank. Could someone tell me what this is about?
I only have non-zero numbers on #1. Ordinary business income(loss) and #11. Section 179 deduction in Schedule K since we are a start-up business. So should I put down zero for "Reconciliation"?
Thanks a lot. |