How do you get Schedule M-1 Items Worksheet to populate with data from K-1s?

[davetodd11]

I'm trying to populate the 1065 Schedule M-1.  I manually entered the Net Income, Expenses recorded on books, and other tax-exempt income from pass through directly onto the  Schedule M-1, but none of the totals are totalling.  I tried using QuickZoom to post the data in the M-1 Items Worksheet, but they don't pull into the Schedule M-1.

[dd4vols · Accepted solution]

At the top of the M-1 worksheet, do you have 'display difference amounts on schedule M-1).

you don't enter your info on the M-1, only on the M-1 Worksheet, Such as non-taxable PPP funds, would go on the M-1 Worksheet under Other permanent items (income), etc

You need to eliminate the stuff you manually posted on the M-1.

the net income should automatically come from page 5, line 1.

Unless there is some relevance to your wording of "income from pass through" 

[davetodd11]

I have now checked the "display 'difference' amounts on schedule M-1" and removed my manual entries from the the actual M-1.  Should I still leave the data in the Schedule M-1 Smart Worksheet blank?  The M-1 is still not showing data.

One thing I should mention.  All of the partnership's income comes from 4 other partnerships.  I've entered all the K-1 data for those 4 partnerships, but the  Nondeductible Expenses from Box 18 Code B and the Other Tax-Exempt Income from Box 18 Code C of the K-1s don't carry to lines 18b and 18c of the Schedule K.  All of the other data from the K-1s does carry over to that Schedule.  Could that have anything to do with the issue I'm seeing?  I notice that Schedule I does not have a "From K-1s" column for 18b and 18c, (as does 18a).  I thought maybe this was something that I should manually enter on the M-1 Worksheet, but it only prompts for "Per Books" entries.

[davetodd11]

I see where there is a note under Line 18 on the K-1 Entry Wks that states, "Not provided for in the program. Manually enter on appropriate tax form."  I went back to lines 18b and 18c of the Schedule K and tried to quickzoom/cross-reference, but that doesn't seem to take me to the place where I can actually manually enter the data.

Here's what the K-1s show:

18B: 

• $1,618 for "EIDL advance"
• $1,207 for "Nontaxable income - passthrough". 

18C:

• $12 for "Excluded meals and entertainment expenses"
• $6,525 for "Key person life insurance"
• $78 for "Nondeductible expenses - passthrough"

[davetodd11]

I went back and re-read your direction.  I entered the the 18b and 18c data on the M-1 worksheet in the 'Other permanent items (income)' and 'Other permanent items (expenses)' sections.  The data populated on the 1065 page 4, but still not on the Schedule M-1.

I figured out what the issue was - in the 'Schedule M-3 Smart Worksheet' (on the Schedule M-3), I had 'Yes' checked for "Calculate Schedule M-3, pages 2 & 3".  When I check 'No', the 'Schedule M-1 Items Worksheet' data populated the 'Schedule M-1 Smart Worksheet' on the Schedule M-1.  I then checked the "Check box to enter line E on Schedule M-1, line 1", and the Net Income (Loss) Per Books line in Schedule M-1 then populated.  I'm good to go now - thanks!