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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...
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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...
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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...
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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...
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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...
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