Form 8916-A print requirements
To print Form 8916-A, Federal Supplemental Attachment to Schedule M-3:
- In theTax Forms, selectFederal, then theSchedule M-3 and 8916-Afolder.
- Go to the8916-A, Page 1tab.
- EnsurePart 1, make sureLine 8has a value.
- Alternatively, go to the8916-A, Page 2tab.
- Make surePart II,Line 6has a value.
- Make surePart III,Line 5has a value.
- Do a full recompute, then print the return.
If the form isn't printing, make sure it isn't suppressed:
- In theOrganizer, selectBalance Sheet and Reconciliationfolder.
- Then go to theSch C, Sch M-3 and Form 8916-A,Sch C, M-3 and Form 8916-Afolder.
- Go to theSch M-3 and Form 8916-A Optionstab.
- In theGeneral Optionssection, make sure theDo not compute Schedule M-3, Parts II and IIIcheckbox isn't selected.
- Also, make sure the Schedule M-3 is printing to print this form.
- Do a full recompute, then print the return.
Schedule L, line 21, column (d) doesn't match Schedule M-2, line 9. How is the end of tax year capital calculated on Form 1065, Page 5, Schedule L, line 21? Why is the amount not flowing from the Partners capital accounts (for review only) field in ?
Any amounts entered under tab in
Partners capital accounts (for review only)
are for review only and don't transfer to Schedule L, line 21.Form 1065, Page 5, Schedule L, line 21 is a computed field:
Beginning of tax year Partners' Capital
is calculated by subtracting the sum of lines 15 through 20 from line 14 under column (b).End of tax year Partners' Capital
is calculated by subtracting the sum of lines 15 through 20 from line 14 under column (d).How can Schedule M-2 contributions/distributions be entered?
Partner contributions and distributions can be entered in the Organizer in either tab or tab or tab. If data entered on these screens isn't flowing to , check the following items:
- Make sureEnable Partner Allocationsis marked in theEnable Partner Allocationsfolder.
- Make sure there are partner numbers for each partner in the screens.
- Make sure there are beginning ratios for each partner in the screens.
- If there are no beginning ratios, the contribution/distribution need to be specially allocated.
Why is Schedule M-2, line 1 not reflecting the correct amount?
To populate Schedule M-2, Line 1 for "Balance at beginning of year", there need to be partners entered in the Organizer with valid partner numbers and beginning capital. If you are using the
Direct K-1 Import
feature, there may not be partners in the Organizer. In this case, go to tab and mark Enable Direct K-1 Import to replace the computed Schedule K-1s
under the Enable Electronic K-1 Filing
section. This option will sum the partners' beginning capital balances from their Schedules K-1 and populate the Schedule M-2, Line 1.This option will also trigger the Schedule M-2, Lines 2 and 6 to populate with the total amount of Contributions and Distributions from the Direct K-1 Import. For 2008 and prior returns, the Schedule M-2 (except for Line 1) will need to be overridden on when using the Direct K-1 Import.
Balance at the beginning of the year doesn't match last year's ending capital.
The amount on Schedule M-2 does roll over from year-to-year. Instead, the amount pulls from tab.
for 1065 return is incorrect.
Navigate to Line 1 is calculated backwards, starting with Income (loss) on Schedule M-1, Line 9 and working backwards to arrive at net income per books.
note
Drill down on in Tax Forms to see a workpaper for this calculation.
If Schedule M-1, Line 1 is not correct, first verify that your income (loss) amounts on and are correct. Once these are correct, then the starting point on Schedule M-1 Line 9 is correct.
Once Schedule M-1 Line 9 is correct, verify your adjustment amounts on and make any necessary changes.
