acook
Level 2
02-10-2022
07:32 AM
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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.