I have a complicated partnership return which is almost done BUT the Net income per books on the Schedule M-2 is not the same as the Net Income per books on the Schedule M-1. M-1 is correct. M-2 is excluding the depreciation adjustments on 4a and 7a on the M-1. Why? How do I fix it?
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Screen 28 probably has your solution. https://proconnect.intuit.com/community/form-1065/help/partnership-capital-account-analysis-and-sche... may help
Thanks for pointing me in the right direction. I had already checked the Recompute Sch M-2 box and forgotten about it.
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