I have previous losses on 2018 and 2019 so I typically need to do a M-2. (Income/Assist is under the $250k)
For some reason TT Business decides to fill out the M-1 form instead of the M-2. Turbotax has never asked me about previous (negative) balance at the beginning of the tax year.
So I forced it to do the M-2.
I manually clicked "No" under Schedule M-1 section F to not "Use amount on line E for Schedule M-1, line 1?".
Then under Schedule M-2 check mark the "Compute Schedule M-2?" to Yes as well and the following line to automate Schedule M-2.
What concerns me is that I see TurboTax still generates a Schedule M-1 Items Worksheet and Schedule M-2 Worksheet and a few other sheets the I'm wondering if this gets transmitted to the IRS which then might trigger a audit.. Or did I do it correctly on overriding the M-1?
Also previous tax forms (done by my CPA) left Total Assets empty. TurboTax forced me to enter in a value.. I put 0 in but I know I have to correct that. Why doesn't TT allow me to have that blank like my accountant's work?
Thanks for the help.
