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.
- Go toSetup,1120 Corporation,Federaltab and selectOther Return Options.
- In theReturn Presentationtab, mark theComplete Schedule M-1 and C Corporation Schedule M-2 when receipts and assets are less than $250,000checkbox.noteYou can set this option on an individual client basis. Make sure the options on theReturn Presentationtab are cleared.
- For C Corporations or Cooperative Associations, select theComplete Schedules M-1 and M-2 when not requiredfield.
- For S Corporations, select theComplete Schedule M-1 when not requiredfield.
