While you may have entered it in TT correctly, the Sch M-2 and Sch L (balance sheet) are based on your external books and records.
So I don't know if you mainta...
Based on your additional comments:
Your first comment indicate that the sale is not recorded somewhere
If you need to add something to the Sch M-2 line 4, this...
A few comments:
Sch M-2 line 3 should equal Sch M-1 line 1
Since this sale should have been recorded on the books, and most likely was, I would expect this inc...
I think a few more details are in order:
Exactly what assets have been depreciated?
100% business assets owned by the S corporation?
What is or has happened...
Excellent.
However, keep in mind that a significant number of final K-1's don't provide your share of either the hot asset information or Section 1250 informati...
