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•65•Updated over 1 year ago
Was this helpful?
You must sign in to vote, reply, or post
Sign in for the best experience
Ask questions, get answers, and join our large community of Intuit Accountants users.
More like this
- How to find release dates for forms and schedules in ProSeriesby Intuit•164•Updated 1 year ago
- Common questions about Schedule EIC in ProSeriesby Intuit•137•Updated January 11, 2023
- Where are Forms 8804, 8805, and 8813 in ProSeries?by Intuit•5•Updated over 1 year ago
- Common questions for the Schedule J in ProSeriesby Intuit•2•Updated over 1 year ago
- Common questions about the Schedule D and Form 8949 in ProSeriesby Intuit•14•Updated over 1 year ago