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- How to have the state schedule M-1 identical to federal Schedule M-1?
How to have the state schedule M-1 identical to federal Schedule M-1?
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G-dog
Level 2
09-03-2021
01:12 PM
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2 Comments 2
sjrcpa
Level 15
09-03-2021
01:59 PM
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Should it be? What state?
Ex-AllStar
G-dog
Level 2
09-03-2021
02:05 PM
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The state is CA. On other tax software used, the M-1 schedules are identical but you can make changes on the state for specific items. In my situation, I have partnership that receives a K-1. The state rental income and nondeductible expenses are different from federal. This difference is reported on CA's Sch M-1. Therefore it's making my balance sheet to be out of balance. There should be an option to make the Sch M-1 for state and Federal be identical.
