Corporation Returns - Printing Schedule L (Balance Sheet), Schedule M-1, and Schedule M-2

Generally corporations with total receipts and total assets at the end of the tax year totaling less than $250,000 are not required to complete Schedules L, M-1 and M-2, and if the forms aren't required then Tax Processors Plus won't print them with the return. However, you can force these forms to print if desired.

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Form 1120 Corporation Return

From the Main Menu of the Tax Return (Form 1120) select:

• Schedule K - Other Information
• Receipts and Assets at Year End Less Than 250,000?
• YES - You will be prompted to enter the total cash and property distributions for the year.
• New Schedule K menu options will be available: Print Schedule L?, Print Schedule M-1?, and  Print Schedule M-2?. Change each option to YES to print the Schedules.

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Form 1120-S S Corporation Return

From the Main Menu of the Tax Return (Form 1120-S) select:

• Schedule B - Other Information
• Receipts and Assets at year end less than 250,000
• YES
• New Schedule B menu options will be available: Print Schedule L? and Print Schedule M-1? Change each option to YES to print the Schedules.