Schedules L, M-1, and M-2 FAQ (1065)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

The following includes an answer to a common question about Schedules L, M-1, and M-2.

Question

Why aren't Schedules L, M-1, and M-2 being completed?

Answer

The printing of these schedules is controlled by the answer to Form 1065, Schedule B, question 6.

If the requirements for Schedule B, question 6 are met, UltraTax CS answers Yes to question 6 and does not complete Form 1065, Total assets or Schedules L, M-1, M-2, and K-1, Partner's capital account analysis.

Notes

  • Use the Meet all requirements for Question 6? field in Screen OthInfo to force a different answer.
  • When the answer to question 6 is Yes, use the Print schedules when not required? field in Screen OthInfo to complete these items.

Related topic: 1065 Frequently asked questions

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