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February 11, 2023
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Form 1065:Sch M-1,Line1 Sche M-1 Net Inc (Loss) per book must be entered

  • February 11, 2023
  • 1 reply
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I was using Turbotax Business and the following error came up

 

Form 1065:Sch M-1,Line1 Sche M-1 Net Inc (Loss) per book must be entered

 

What do I need to do or what do I need to enter in that Line 1

Best answer by Anonymous_

Enter Forms Mode and open your 1065 (pg 4-5).

 

Scroll down toward the bottom. There is a worksheet for M-1.

1 reply

Employee
February 11, 2023

Enter Forms Mode and open your 1065 (pg 4-5).

 

Scroll down toward the bottom. There is a worksheet for M-1.

ToksicaAuthor
February 11, 2023

I am in Forms mode...what do I do now. 

 

I bought Turbotax to help handle all this automatically...What do I do now

Employee
February 11, 2023

Check one of the boxes in the worksheet and you should see the figures calculate.

 

Unfortunately, TurboTax Business does not offer a lot of handholding with respect to the balance sheet and reconciliation.