Sch L, M, M1 etc.

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  • Unregistered
    #1

    Sch L, M, M1 etc.

    Partnership sold everything in 2005. Do I need to prepare Sch L, M, M1 etc. as it not required to because asstes and Receipts are under $250,000? This will be the final return.
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    • dsi
      Senior Member
      • Dec 2005
      • 705
      #2
      Originally posted by Unregistered
      Partnership sold everything in 2005. Do I need to prepare Sch L, M, M1 etc. as it not required to because asstes and Receipts are under $250,000? This will be the final return.
      I don't believe you have to (the B/S will be zero anyway). I always do only because I like to have the audit trail.
      Dave, EA

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