ProConnect HelpIntuit HelpIntuit

Completing Schedule M-3 Part I Only and Schedule M-1

SOLVEDby IntuitLacerte Tax1Updated July 27, 2021

How do I indicate in Lacerte to complete Schedule M-3, Part I only and Schedule M-1 per the new form instructions?

Corporate-

Solution #1- To set the option in the Corporate module for all clients-

  1. Click on Settings.
  2. Click on Options.
  3. Select the Tax Return tab.
  4. Scroll down to the Federal Tax Options section.
  5. Locate the option Complete Sch M-3, Page 1, and Sch M-1 When Eligible.
  6. Select Yes from the drop down menu.

Solution #2- To set the option in the Corporate module for a specific client-

  1. Go to Screen 39.2, Schedule M-3.
  2. Enter a 1 in, Complete Schedule M-3, page 1 and Schedule M-1 when eligible: 1= yes, 2= no [O].

Partnership-

Solution #1- To set the option in the Partnership module for all clients-

  1. Click on Settings.
  2. Click on Options.
  3. Select the Tax Return tab.
  4. Scroll down to the Federal Tax Options section.
  5. Locate the option Complete Sch M-3, Page 1, and Sch M-1 When Eligible.
  6. Select Yes from the drop down menu.

Solution #2- To set the option in the Partnership module for a specific client-

  1. Go to Screen 27.2, Schedule M-3.
  2. Enter a 1 in, Complete Schedule M-3, page 1 and Schedule M-1 when eligible: 1= yes, 2= no [O].

S Corporate-

Solution #1- To set the option in the S Corporate module for all clients-

  1. Click on Settings.
  2. Click on Options.
  3. Select the Tax Return tab.
  4. Scroll down to the Federal Tax Options section.
  5. Locate the option Complete Sch M-3, Page 1, and Sch M-1 When Eligible.
  6. Select Yes from the drop down menu.

Solution #2- To set the option in the S Corporate module for a specific client-

  1. Go to Screen 31.2, Schedule M-3.
  2. Enter a 1 in, Complete Schedule M-3, page 1 and Schedule M-1 when eligible: 1= yes, 2= no [O].

Was this helpful?

You must sign in to vote, reply, or post
Lacerte Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.