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Re: Form 1065 Schedule L is out of balance by gross profit amount line 16 form 6252 Installment Sale
There was an additional book income amount to include on the M-1 related to the installment sales. Thank you! The balance sheet is now in balance. -
Re: Form 1065 Schedule L is out of balance by gross profit amount line 16 form 6252 Installment Sale
Yes, M-1 Line 6a already has the amount of income from installment sales included. It was automatically entered within the Proseries software. I'm not able to c... -
Re: Form 1065 Schedule L is out of balance by gross profit amount line 16 form 6252 Installment Sale
Yes, both 6252 sales are included as receivables in the asset side of the balance sheet. -
I prepared Form 1065 with related schedules including two new Forms 6252. After linking the fixed asset worksheets to the forms 6252 (the fixed asset worksheets...
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It was for a wedding which was cancelled. My client "gave" the rented venue to their church for use for the church's fund raiser. The church provided my client ...
