Form 1120, small C Corp - how to roll over bank account instead of profit
I have a very small one-person owner C Corp and preparing to file 1120 for the first time (I have filed for an extension). I am doing it myself. A small bank balance of $1300 on Dec 31st 2022. I understand there is a way to list this not as taxable profit but rather keep it on the books as 'working capital' (not sure the correct phrase) into the next year. Please explain how to do this? Thank you.
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