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Balance sheet

Schedule M-3 and Form 8916-A automatic calculations

UltraTax CS calculates income statement and tax amounts automatically. This includes temporary and permanent differences. Schedule M-3 is complex, so you should review the return and update it as necessary.
An asterisk marks fields with default calculations. Enter an amount or zero in the field to override a calculation.
Schedule M-3
  • Income statement gain (loss) on sale of assets other than inventory and pass-through entities
  • Gross capital gains from Schedule D, excluding amounts from pass-through entities
  • Gross capital losses from Schedule D, excluding amounts from pass-through entities
  • Net gain (loss) reported on Form 4797, line 17
  • Utilization of capital loss carryover from prior years (Not applicable for S Corporations)
  • Disallowed capital loss in excess of capital gains (Not applicable for S Corporations)
  • U.S. current income tax expense (Not applicable for members of a consolidated C or S Corporation)
  • State and local income tax expense (Not applicable for members of a consolidated C or S Corporation, or foreign corporation)
  • Meals and entertainment expenses from all activities, other than Form 1125-A
  • Charitable contributions (Not applicable for S Corporations)
  • Charitable contribution limitation or carryforward (Not applicable for S Corporations)
  • Domestic production activities deduction (Not applicable for S Corporations)
  • Extraterritorial income exclusion (Not applicable for S Corporations or foreign corporations)
  • Depreciation from all activities, other than Form 1125-A
  • Credit for employer-provided childcare facilities and services
  • Credit for employer Social Security and medicare taxes paid on certain employee tips
  • Credit for increasing research activities
  • Credit for small employer health insurance premiums
  • Credit for small employer pension plan startup costs
  • Credit to holders of tax credit bonds
  • Disabled access credit
  • Empowerment zone and renewal community employment credit, not allocated to cost of labor on Form 1125-A
  • Energy efficient home credit
  • Income from alcohol fuel credit
  • Income from biodiesel fuel credit
  • Indian employment credit, not allocated to cost of labor on Form 1125-A
  • Low-sulfur diesel fuel credit
  • Orphan drug credit
  • Work opportunity credit, not allocated to cost of labor on Form 1125-A
  • Credit for employer differential wage payments, not allocated to cost of labor on Form 1125-A
  • Other items with no differences
  • Rounding adjustment, if applicable
Form 8916-A
  • Meals and entertainment expenses from Form 1125-A
  • Depreciation from Form 1125-A
  • Wage Reduction for employment credits allocated to cost of labor on Form 1125-A
  • Other items with no differences

This article applies to:

  • Product: UltraTax CS
  • Return type: 1120 Corporation
  • Subject: balance-sheet-m1-m3
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