acook
Level 2

We have a work around that we've been doing just to get the returns out the door.

Print your M-2 for ref, then for your M-2 worksheet options :

-compute M-2? YES

-use automated Schedule M-2/Retained Earnings Worksheets? NO

Go in and manually fill in the M-2, the balance sheet retained earnings and the Sch K 16d, if applicable. Adding PPP to Line 3 column a and d and line 5 column d.

 

This effectively wipes out the OAA and increases the AAA account.