ILLMAS Posted June 24, 2010 Report Share Posted June 24, 2010 I can't figure how to input the income per books Sch M-1 (bottom of balance sheet page), the only way to input the amount is by over riding it, but would prefer not to. Can some please help me. Thanks ps I do have Sch B, line 6d mark off as "YES" Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted June 28, 2010 Report Share Posted June 28, 2010 Inputting the tax to book (or book to tax) adjustments by clicking on the appropriate item in the schedule and hopping to the worksheet will, at least should, make the book income match. Does the client have non-deductible T&E? Are there guaranteed payments? Is depreciation different for book and tax purposes? Read the options and input the differences that you know. Good question about not being required to file those schedules. If paper filing, I guess you would just omit. If efiling, I assume it isn't transmitted. I always complete them anyway just to be sure I didn't miss something. Quote Link to comment Share on other sites More sharing options...
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