Real Estate Installment Sale M-1 adjustment

[Perth]

I am filing 1065 and have a installment sale of real estate.  We are showing the installment sale in our books and records as a deferred gain (liability) for the portion not received.  I am sure it is a simple answer but how can I adjust the Book income related to the installed sale on M-1 Items worksheet?  The worksheet automatically reflects the books as recognizing all of the gain in year one.

[Anonymous_ · Accepted solution]

If you look at the M-1 Worksheet there should be a Per Books column, a Per Tax Return column, and a Difference (Tax - Book) column. Those lines should all be "enterable".

[Perth]

Thank you....I had to right click on my mouse to be able to override the amount.