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Balance sheet

Suppress printing of Form 1120, Page 6

You don't need to complete Schedules L, M-1, and M-2 for C Corporations if total receipts for the year and year-end assets equal less than $250,000.
UltraTax CS will continue to print Form 1120, Page 6, however. To suppress the printing of Form 1120, Page 6, select
Setup
,
1120 Corporation
, the
Federal
 tab,
Other Return Options
, then the
Return Presentation
 tab and mark the
Suppress printing of Form 1120, Page 6 when receipts and assets are less than $250,000 (C Corp)
 checkbox.
To set this option on an individual return basis, mark the
Suppress printing of Form 1120, Page 6 when not required
 field in the
Mc
 screen in the Balance Sheet folder. This field isn't available if you mark the respective checkbox located at
Setup
,
1120 Corporation
, the
Federal
 tab,
Other Return Options
, the
Return Presentation
 tab.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1120 Corporation
  • Subject: balance-sheet-m1-m3
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