How do I get Schedules L, M-1, M-2 and Item F of a partnership return to print?
These items, and Section L of a Partnership K-1, are produced if you either:
- On the 1065 B screen, at question 6, enter a check in the No column. The parts of this question appear in Help for the option (press F1).
- On the PRNT screen, enter a check in the box FORCE print Schedules L, M-1, M-2 & K-1 Section L.
- On the L screen, enter a check in the box Force-print Schedule L and M-1.
Although Item F, which is on page 1 of the 1065, is not referenced, it also is produced.
A partnership is not required to complete Schedules L, M-1, and M-2; Item F on page 1 of Form 1065; or Item L on Schedule K-1 (the partnership K-1), when these four conditions are met (that is, when question 6 of Schedule B (screen B) of Form 1065 is answered "Yes"):
- The partnership’s total receipts for the tax year were less than $250,000.
- The partnership’s total assets at the end of the tax year were less than $1 million.
- Schedules K-1 are filed with the return and furnished to the partners on or before the due date (including extensions) for the partnership return.
- The partnership is not filing and is not required to file Schedule M-3