1065 Schedule L not matching Schedule M-2

[RTS1823]

Hi Everyone,

I've searched and I can't seem to find my answer.  I only do a few small partnership returns a year, but this one needs a Schedule L.  I've got everything balanced except Schedule L, Line 22 doesn't match Schedule M-2, line 9. The difference is the book to tax adjustments, depreciation not taken on the books and some non 100% meals on the books.  My understanding is the M-2 is tax basis and Sch L is book basis.  So some differences would be normal?  Is that correct?  Do I need to make a note or adjustment somewhere?

Thanks in advance for your time.

[dkh]

You will need to enter differences book to tax on Sched M 2.   

Did your Sched M-1 balance to zero?