Have a client with over $10 million of assets in an S-Corp. I have to file an M-3. The income statement is not audited, prepared on a tax-basis and there are no significant book-tax differences. I have answered the questions accordingly.
Part I, 1a. no, 1b no.
The software is automatically disclosing on the top of the form
“Alternative disclosure under Rev. Proc. 2004-45 for transactions with significant book-tax difference under sec. 1.6011-4 (b) (6).”
Is this correct? I have read and reread the instructions and am getting nowhere quickly. My brain is fried on this one. Can anyone help?
Part I, 1a. no, 1b no.
The software is automatically disclosing on the top of the form
“Alternative disclosure under Rev. Proc. 2004-45 for transactions with significant book-tax difference under sec. 1.6011-4 (b) (6).”
Is this correct? I have read and reread the instructions and am getting nowhere quickly. My brain is fried on this one. Can anyone help?