1120-US: Form 1120, Page 5 prints with no amounts (FAQ)

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Question

Why is Form 1120, Page 5 printing with no amounts?

Answer

For C Corporations, Schedules L, M-1, and M-2 are not required to be completed if total receipts for the year and year-end assets are less than $250,000. However, UltraTax CS will continue to print Form 1120, Page 5. To suppress the printing of Form 1120, Page 5, mark the Suppress printing of Form 1120, Page 5 when receipts and assets are less than $250,000 (C Corp) checkbox in the Setup > 1120 Corporation > Federal tab > Other Return Options > Return Presentation tab.

Note: To set this option on a return-by-return basis, mark the Suppress printing of Form 1120, Page 5 when not required field in Screen Mc in the Balance Sheet folder. This field is disables if the respective checkbox in the Setup > 1120 Corporation > Federal tab > Other Return Options > Return Presentation tab is marked.

Related topic: 1120 frequently asked questions

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