A final year corporate return is producing EF Message 0123. This message says I have a balance remaining at the end of year on Schedule M-2 line 8, but my M-2 line 8 is zero. How would I resolve this?
When an 1120 is marked as a final year return, the software forces a zero on line 8 of the M-2.
To balance the Schedule M-2, enter a liquidating adjustment amount on the M-2 screen in data entry for line 3 (Increases other than net income per books) or line 6 (Other decreases).