Completing Schedule M-3 Part I only and Schedule M-1 in Lacerte

How do I indicate in Lacerte to complete Schedule M-3, Part I only and Schedule M-1 per the new form instructions?

Corporate

Solution 1

To set the option in the Corporate module for all clients:

1. Click on Settings.
2. Click on Options.
3. Select the Tax Return tab.
4. Scroll down to the Federal Tax Options section.
5. Locate the option Complete Sch M-3, Page 1, and Sch M-1 When Eligible.
6. Select Yes from the drop down menu.

Solution 2

To set the option in the Corporate module for a specific client:

1. Go to Screen 39.2, Schedule M-3.
2. Enter a 1 in, Complete Schedule M-3, page 1 and Schedule M-1 when eligible: 1= yes, 2= no [O].

Partnership

Solution 1

To set the option in the Partnership module for all clients:

1. Click on Settings.
2. Click on Options.
3. Select the Tax Return tab.
4. Scroll down to the Federal Tax Options section.
5. Locate the option Complete Sch M-3, Page 1, and Sch M-1 When Eligible.
6. Select Yes from the drop down menu.

Solution 2

To set the option in the Partnership module for a specific client:

1. Go to Screen 27.2, Schedule M-3.
2. Enter a 1 in, Complete Schedule M-3, page 1 and Schedule M-1 when eligible: 1= yes, 2= no [O].

S Corporate

Solution 1

To set the option in the S Corporate module for all clients:

1. Click on Settings.
2. Click on Options.
3. Select the Tax Return tab.
4. Scroll down to the Federal Tax Options section.
5. Locate the option Complete Sch M-3, Page 1, and Sch M-1 When Eligible.
6. Select Yes from the drop down menu.

Solution 2

To set the option in the S Corporate module for a specific client:

1. Go to Screen 31.2, Schedule M-3.
2. Enter a 1 in, Complete Schedule M-3, page 1 and Schedule M-1 when eligible: 1= yes, 2= no [O].