Knowledge Base

10717: 1120 - Schedules L, M-1, and M-2 Not Showing

1120 Corporate

I entered data on the L and L2 screens; why isn't the balance sheet showing?

If the corporation’s total receipts for the tax year and balance sheets' total assets at the end of the tax year are both less than $250,000, Question 13 of the Schedule K is answered Yes and Schedules L, M1 and M2 are not required. To force print Schedules L, M-1, and M-2, go to the PRNT screen and select Force Schedules G (1120-C), L, M-1, and M-2 to be printed.

Schedule L and M1 can also be forced by selecting Force-print Schedules L and M1 on the L screen in data entry.

The Wks M2 (WK_M2 in Drake15 and prior) worksheet is produced only in the 1120-S and 1065 packages.

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