Suppress the Balance Sheet (Schedule L) and M-1 for an S Corporation Return

How do I suppress the Schedule L and M-1 for an S-corporate return?

To turn off the Schedule L and M-1 for an S Corporation:

1. Go to Screen 3.1, Miscellaneous Information.
2. Scroll to the section Other Information (Schedule B).
3. Enter a 1 in the field Total Receipts and Total Assets at End of Year are Less Than $250,000: 1 =Yes, 2 =No [O].

If the balance sheet and M-1 are still generating:

1. Go to Settings on your menu bar.
2. Click Options.
3. Select the Tax Return tab.
4. Scroll to Federal Tax Options section.
5. Verify whether Schedule L and M-1 is set to Force.
6. If yes, click the down arrow and choose When Applicable.
7. Click OK to save your changes and exit Options.

Note: An entry on Screen 30, Balance Sheet Miscellaneous in the field Schedules L and M-1: 1=force, 2=when applicable [O] will override the input in Screen 3.1. Verify that field is empty.