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- Why "Amount of Other Additions/Reductions to carry to Schedule L" field is on AAA screen if it does not change Schedule M-2?
Why "Amount of Other Additions/Reductions to carry to Schedule L" field is on AAA screen if it does not change Schedule M-2?
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Montiero
Level 1
5 hours ago
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The "Amount of Other Additions/Reductions to carry to Schedule L" field on the Schedule M-2 AAA screen of Proconnect is for the calculation for line 24, "Retained earnings," of Schedule L. However, it does not affect the Schedule M-2 line 3 "Other additions" for AAA reconciliation on Form 1120-S.
Why did Proconnect put this field on the AAA screen? If it's not related to AAA, Proconnects also has an "Other retained earnings" screen.
is this field used to make some specific adjustments related to AAA affecting the retained earnings but should not be reflected to the current period of AAA?
