Specify which items transfer from Schedule M-1 to Schedule M-2

UltraTax CS transfers Schedule M-1 items that have a code entered in the Sch M-2 column of the following Schedule M-1 statement windows in the
Ms
screen.
  • Taxable income not on books
  • Book expenses not deducted
  • Income on books not on return
  • Return deductions not on books
If you enter the
A
,
O
, or
R
code in the
Carry book/tax differences to Schedule M-2
field of the
Ms
screen, UltraTax CS transfers the tax accrual adjustment, rounding adjustment, and Schedule M-1 book/tax differences for depreciation, depletion, amortization, organization or startup deduction, and Form 4797 gain or loss to Schedule M-2.
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