You cannot suppress only Schedule L.
If your business has assets totaling less than $250,000 and gross receipts totaling less than $250,000 for the year, then you can suppress Schedule L & M-1 and can skip completing the balance sheet.
If either of these exceeds $250,000, then you are required to file Schedules L & M-1 and report the balance sheet.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
