Schedule m-2 on 1120-S

[janicebrown]

I am attempting to enter the information for schedule M-2.  I want to add a sum for section c - accumulated earnings and profits.  However, where do I find the field to add this infomation?  I only find the other options, which are accumulated adjustments, shareholders income, and other adjustments.  How can I enter the info for accumulated earnings?

thank you,

J B

[Anonymous_]

See https://www.irs.gov/instructions/i1120s#en_US_2021_publink11515kd0e7032

[Anonymous_]

[AliciaP1 · Accepted solution]

While you normally don't need to make changes to your Accumulated Earnings (column c) on your Schedule M-2, you can do this in TurboTax Business by following these steps:

1. Within your tax return, use the Forms icon at the upper right to switch to Forms mode
2. Select Form 1120S p3-5 on the left-hand menu
3. Scroll down to the bottom of the pages and enter your information directly into the column c boxes you need.

@janicebrown 

[Anonymous_]

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@janicebrown wrote:

I only find the other options, which are accumulated adjustments, shareholders income, and other adjustments.  How can I enter the info for accumulated earnings?

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There is no input for the field to which you are referring (column c) as shown in the screenshot from an actual 1120-S. The adjustments would be entered in column a.

[janicebrown]

Thank you Alicia!  That was exactly what I was looking for.