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Printing Schedules L, M-1, and M-2

The answer to question 4 on Form 1065, Schedule B, controls the printing of Schedules L, M-1, and M-2.
When UltraTax CS answers
Yes
 to question 4, it doesn't complete Form 1065, Total assets or Schedules L, M-1, M-2, and K-1, Partner's capital account analysis. This happens when the following are true:
  • Total receipts for the year were less than $250,000.
  • Total assets at the end of the year were less than $1 million.
  • Schedules K-1 are filed with the return and given to the partners on or before the due date (including extensions).
  • The partnership isn't filing and isn't required to file Schedule M-3.

Force printing status

You can control the printing status for these schedules manually.
  1. Go to the
    General
     folder and open the
    OthInfo
     window.
  2. Use the
    Meet all requirements for Question 4? (Force)
     dropdown to select a code.
    • With code
      2
       for
      No
      , UltraTax CS will complete Form 1065, Total Assets and Schedules L, M-1, M-2, and K-1, Partner's Capital Account Analysis.
    • With code
      1
       for
      Yes
      , UltraTax CS won't complete Form 1065, Total Assets and Schedules L, M-1, M-2, and K-1, Partner's Capital Account Analysis.
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