How to Force Schedules L, M-1 and M-2 to Print in UltraTax CS
UltraTax omits Schedules L, M-1 and M-2 for an S corporation when total receipts and year end assets are both under $250,000. For every client, use Setup, 1120 Corporation, Federal tab, Other Return Options, Return Presentation tab and mark the Schedule L and Schedule M-1/M-2 checkboxes. For one client, mark Complete Schedule when not required on Screen L and Screen Mc in the Balance folder.
- Decide the scope
- For all clients, open Return Presentation
- For one client, use the Balance folder
- Expect the per client box to be greyed out
- Check Screen Ms for a suppression
- Setup
- 1120 Corporation
- Federal tab
- Other Return Options
- Return Presentation tab
| Trial balance account | UltraTax CS screen and field | Lands on |
|---|---|---|
| All clients | Return Presentation tab, Schedule L and Schedule M-1/M-2 | Schedules print regardless of thresholds |
| One client | Screen L and Screen Mc, Complete Schedule when not required | Schedules print for this client |
| Schedule M-2 suppressed (1120-S) | Screen Ms, Suppress printing of Schedule M-2 | Schedule M-2 hidden |
| S corporation threshold | Receipts and year end assets both under $250,000 | Schedules L, M-1 and M-2 omitted |
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Try it freeHow to Force Schedules L, M-1 and M-2 to Print in UltraTax CS on a trial balance
| Acct # | Account | Debit | Credit |
|---|---|---|---|
| 1000 | Cash | 42,800.00 | |
| 1200 | Accounts receivable | 68,500.00 | |
| 1300 | Inventory (the account this page is about) | 55,000.00 | |
| 1500 | Equipment | 145,000.00 | |
| 1510 | Accumulated depreciation | 47,500.00 | |
| 2000 | Accounts payable | 28,400.00 | |
| 2100 | Accrued expenses | 9,200.00 | |
| 2400 | Notes payable | 92,000.00 | |
| 2450 | Due to shareholder | 15,000.00 | |
| 3000 | Common stock | 10,000.00 | |
| 3900 | Retained earnings | 86,300.00 | |
| 3950 | Shareholder distributions | 52,000.00 | |
| 4000 | Gross receipts | 612,000.00 | |
| 5000 | Cost of goods sold | 318,000.00 | |
| 6000 | Salaries and wages | 88,000.00 | |
| 6050 | Officer compensation | 72,000.00 | |
| 6300 | Depreciation expense | 21,500.00 | |
| 6900 | Other operating expenses | 37,600.00 | |
| Total | 900,400.00 | 900,400.00 |
Why they vanish
For an S corporation, UltraTax does not complete Schedule L when total receipts for the year and year end assets are both under $250,000, and the same threshold applies to Schedules M-1 and M-2. The return is complete without them.
So a small client return that prints with no balance sheet is not a bug, and chasing it as one wastes an afternoon.
Two settings, two scopes
Every client. Setup, 1120 Corporation, Federal tab, Other Return Options, Return Presentation tab. Mark the Schedule L and Schedule M-1/M-2 checkboxes and the schedules are completed regardless of receipts and year end assets. The Schedule L option covers 1120-S clients as well.
One client. In the Balance folder, mark the Complete Schedule when not required checkbox on Screen L and on Screen Mc.
If the per client checkbox is greyed out, the global option is already set, which is the answer rather than a problem.
Check for a suppression before blaming the threshold
On an 1120-S, Screen Ms in the Balance Sheet folder has a Suppress printing of Schedule M-2 field. A missing M-2 on a client well above the threshold usually means that field is set, often inherited from a prior year file.
Worth checking first, because it takes ten seconds and the threshold explanation does not apply to a client with $2 million of receipts.
One caution about a field written for partnerships
The Meet all requirements for Question 4 (Force) code in the OthInfo screen is documented for Form 1065, not the 1120-S. Reaching for it on an S corporation return because the name sounds right is a reliable way to spend time on the wrong setting.
Force them on small clients anyway
The schedules are where balance sheet and equity errors surface. A beginning balance error is cheapest to find in the year it arises, the M-2 roll forward is the fastest check that distributions and income were handled properly, and a client who crosses the threshold next year will need the prior year figures to be right.
Tax return treatment
| Form | Line |
|---|---|
| Form 1120 | Schedules L, M-1 and M-2, page 5 |
| Form 1120S | Schedules L, M-1 and M-2, page 4 |
Common questions
Why are Schedules L, M-1 and M-2 not printing in UltraTax CS?
For an S corporation, UltraTax omits them when total receipts and year end assets are both under $250,000. The return is still complete. On an 1120-S also check Screen Ms for the Suppress printing of Schedule M-2 setting.
How do I force the schedules for every client?
Setup, 1120 Corporation, Federal tab, Other Return Options, Return Presentation tab, and mark the Schedule L and Schedule M-1/M-2 checkboxes. The schedules are then completed regardless of the receipts and assets thresholds, including for 1120-S clients.
How do I force them for a single client?
In the Balance folder, mark the Complete Schedule when not required checkbox on Screen L and Screen Mc. If that checkbox is greyed out, the global Return Presentation option is already set.
Is the Question 4 force field the right setting for an 1120-S?
No. The Meet all requirements for Question 4 (Force) code in the OthInfo screen is documented for Form 1065 partnerships, not S corporations, so it is not the control for the 1120-S schedules.
Related answers
Go deeper
This page is the short answer. These articles work through the same ground in detail.
Last reviewed October 17, 2026.