When both the gross receipts and total assets are less than the applicable threshold the Schedules L, M-1, and M-2 may not be required and can be suspended. See the thresholds and how to suspend the calculation for your return type:
Suspend calculation of Schedules L, M-1 and M-2 for Form 1065, 1120S or 1120 in ProSeries
SOLVED•by Intuit•ProSeries Professional•54•Updated August 05, 2022
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