The Schedule B Question 4 requirements:
- Total receipts for the tax year were less than $250,000.
- Total assets at the end of the tax year were less than $600,000.
- Schedules K-1 are filed with the return and furnished to the partners on or before the due date (including extensions).
Follow these steps to answer yes to Schedule B Question 4:
- Go to the Input Return tab.
- Select General on the left-hand navigation bar.
- Click on Other Information (Schedule B).
- Click the checkbox for "Question 4" requirements are met.
- Schedule L
- Schedule M-1
- Schedule M-2
- Form 1065, page 1, Item F
- Schedule K-1, Item L
To print these items even when the "Question 4" requirements are met box is checked:
- Go to the Input Return tab
- On the left-side navigation bar, click on Balance Sheet, M-1, M-2.
- Click on Balance Sheet Miscellaneous.
- Check the box Force Schedules L, M-1 and M-2 to print.
Related TopicsForm 1065 Schedule K-1 Item L Partners' Capital Account Analysis is Blank
Entering and Calculating the Schedule M-1
1065 - Calculating Schedule M-2 Line 3 when Generating a Schedule M-3