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Balance Sheet and Schedule M1 M2 M3
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This article applies to:

  • Product: GoSystem Tax RS
  • Return type: 1065 Partnership
  • Subject: Print requirements

Schedule M-2 print requirements

To print Schedule M-2, Federal Analysis of Partners’ Capital Accounts:
  1. Go to
    Tax Forms
    Federal
    1065 – US Partnership Return of Income
    .
  2. Go to the
    Page 2
     tab and ensure line
    4
     is marked
    No
    .
  3. If it is marked
    Yes
    , go to
    Organizer
    General information
    Return and Print Options
    .
  4. Go to the
    Form 1065, Page 1, 6 and 1125-A
     tab, and in the
    Schedules L, M-1, M-2 and K-1, Item L Print Options
     section, select the
    Print Schedules L, M-1, M-2, K-1, Item L, and Form 1065, Page 1, Item F amounts and detail when form 1065, Page 2, Schedule B, Line 4 is "Yes"
     checkbox.
  5. Do a full recompute, then print.
If the form doesn’t print, check if it's suppressed:
  1. Go to
    Organizer
    General information
    Return and Print Options
    .
  2. Go to the
    Form 1065, Page 1, 6 and 1125-A
     tab, and in the
    Schedules L, M-1, M-2 and K-1, Item L Print Options
     section, clear the
    Print blank Schedules L, M-1, M-2 and K-1, Item L (Overrides next Option below)
     checkbox.
  3. Do a full recompute, then print.

Line 2a

To populate and print an amount on schedule M-2 line 2a:
  1. Go to
    Organizer
    Partner Information
    Partner by Partner Data
    Columnar Partner Entry
    Contributions/Distributions
     tab.
  2. Enter your amount in the
    Cash Contributions
     column.
  3. Do a full recompute, then print.
Alternatively, you can enter an override for the line in the Organizer:
  1. Go to
    Organizer
    Balance Sheet and Reconciliation
    Sch M-2
    Capital Analysis
    .
  2. Go to the
    Overrides
     section.
  3. Enter the expected amount in the
    Cash Contributions
     field.
  4. Do a full recompute, then print.

Line 6a

To fix cash distribution on 1065 Schedule M-2 Line 6a:
  1. Go to
    Organizer
    Balance Sheet and Reconciliation
    Schedule M-2
    Contribution/Distribution tab
    .
  2. Enter the correct Allocation code.
  3. If you're using amounts for each partner, make sure the total for all amounts matches the total entered.
  4. Do a full recompute, then print.
Schedule M-2 Line 6a on the Federal 1065 return displays an incorrect amount, and needs to be entered in the Organizer.
  1. Go to
    Organizer
    Balance Sheet and Reconciliation
    Sch M-2
    Contribution/Distribution tab
    .
  2. Populate all columns, including Date, for any Distribution entries that you need to enter.
  3. Run a full recompute.

Schedule M-2 Line 3 Incorrect Amount

To update the amount on schedule M-2 line 3:
  1. Go to
    Organizer
    Balance Sheet and Reconciliation
    Sch M-2
    Capital Analysis tab
    Net Income Per Books - Overrides section
    .
  2. Go to Option 3, and enter the correct amount in the field for
    Override Sch M-2, line 3 (Net income per books) and the partners' Item L current year net income (loss)
    .
  3. Do a full recompute, then print.
note
You can also select option 1 or option 2 to automatically adjust the amount on line 3 without directly entering an amount.

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