No loan, all cash.The expenses have been divided by categories (materials, utilities, paid contractors, insurance, other outside services, etc) and listed on the 1120S using TurboTax Business.My question is, how do I determine the Total Assets for Item F of Form 1120S?

Right now the owner pays the majority of the tenants' utilities (gas & electric/water & sewer).  

Hi All, I recently learned an important lesson: Don't forget to require recently utility statements before closing on a property.

My wife and I are working on purchasing our first duplex where we would utilize an fha loan to owner occupy the smaller of two sides.

I also want to know if you've included landlord insurance and utilities because in Utah the owner is incharge of water, sewer, garbage not tenant.  

(Then there is of course the follow-up questions- Other than yard maint/snow, garbage, utilities, etc. anything that's commonly missed that I can put on the Sched E?)  

Now, figure vacancy, repairs, utilities, lawn care, snow care) is there anything left over?

After utilities, we are breaking even or in the minus a bit.

Separate utility from excess & bling and stop trying to impress people that don't matter (like strangers on the freeway looking at your newly-leased $700/month Mercedes - foolish!). 

Many CPAs will not know how to utilize these real estate programs.If you as investors need to show financials and do some modification on the financials to collapse or whatnot, the CPA might or might not do it on their QB.