7204 MEM Posted February 25, 2014 Report Share Posted February 25, 2014 Is it possible to turn off Sch M-2 in an 1120S when it's not required for a client, similar to M-1 and Sch L. Lacerte has the option but I can't find it in ATX. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted February 26, 2014 Report Share Posted February 26, 2014 I think it's under global settings. I'll take a look at the next S I open if someone doesn't beat me to it Quote Link to comment Share on other sites More sharing options...
7204 MEM Posted February 26, 2014 Author Report Share Posted February 26, 2014 I don't even have a "global settings" option in 1120S returns. Okay, this coupled with the fact that I can't add book to tax differences to the 1120S Sch L, Retained Earnings, is leading me to think I don't have a full program here. Are there functionality differences in the Pay Per Return program vs. the Unlimited Plan? I primarily do business returns. Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 26, 2014 Report Share Posted February 26, 2014 These setting are options at the bottom of the balance sheet page for each corporate return. The book/tax differences are a separate schedule which have always worked for me. Not aware of any program differences between PRS and MAX Quote Link to comment Share on other sites More sharing options...
7204 MEM Posted February 26, 2014 Author Report Share Posted February 26, 2014 Thanks for the response. The only "option" I have is to turn off M-1 and L, no M-2. I also can't find the separate schedule for book/tax differences on Retained Earnings (1120S Sch L, Line 24). I would be grateful if you uploaded print screens! I am frustrated. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted February 26, 2014 Report Share Posted February 26, 2014 Sorry, the 'global settings' is for the K-1, 'options' is to show B/S & M-1 when not required. You can't turn off M-2, see question 10 on pg. 2 of the return. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted February 26, 2014 Report Share Posted February 26, 2014 For what it's worth, on the client I'm working on now, I made a line item on the BS, line 25: difference between AAA & RE Quote Link to comment Share on other sites More sharing options...
7204 MEM Posted February 26, 2014 Author Report Share Posted February 26, 2014 OMG! I found where I think the programmers intended book/tax differences to be input for 1120S Sch L Retained Earnings. It's not really a separate schedule. From the BS, jump to the M-2 - Retained Earnings Schedule. It's a reproduction of the tax return for AAA with an EXTRA COLUMN titled "Retained Earnings Unappropriated/Timing Differences". It allows you to adjust AAA to book Retained Earnings as well as add an itemized list (which I think will print???). That's were I'll put my current issue which is a Distribution in Excess of AAA. I too had the adjustment on BS, Line 25 but don't want to confuse the client (or myself) when this rolls forward to next year. Quote Link to comment Share on other sites More sharing options...
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