New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

How do I specify which items transfer from an 1120 S Corporation Schedule M-3 to Schedule M-2?

Answer

Because Schedule M-3 is much more detailed than Schedule M-1, UltraTax CS does not automatically transfer the temporary and permanent differences shown on Schedule M-3 to Schedule M-2.

Select a code from the fieldview in the Sch M-2 column in the statement dialogs for the applicable fields in Screen M3S-2, in the Book / Tax Differences section.

Related topic: 1120-US: Schedule M-3 FAQs

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