Calculate Schedules M-1 and M-2

If total receipts for the year and year-end assets are more than $250,000, UltraTax CS calculates Schedules M-1 and M-2 automatically for the following:
  • C Corporations
  • Cooperative associations
UltraTax CS calculates Schedules M-1 for S Corporations automatically if total receipts and year-end assets are more than $250,000.
Follow these steps to calculate Schedules M-1 and M-2 if total receipts are less than $250,000.
  1. Go to
    Setup
    ,
    1120 Corporation
    ,
    Federal
    tab and select
    Other Return Options
    .
  2. In the
    Return Presentation
    tab, mark the
    Complete Schedule M-1 and C Corporation Schedule M-2 when receipts and assets are less than $250,000
    checkbox.
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