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10104: 1065/1120S - Item F Total Assets


Fed Returns Generally

How do I enter an amount in Box F Total Assets on a 1065/1120-S return?

Item F is completed automatically by the software based on asset data entry in the return.

Form 1120-S

It is not required if the answer to Schedule B, question 11 "Are the corporation's total receipts for the tax year less than $250,000 AND total assets at the end of the year less than $250,000" is Yes. You can enter an override on the Print Options screen (PRNT).

 

An entry here will override the total asset amount carried from Schedule L.

Note: If you select the option on the PRNT screen to Force-print Schedule L and M-1, the total assets will also print in Item F.

Form 1065

It is not required if the answer to Schedule B, question "Does partnership meet all requirements listed for question 4 of Form 1065" is Yes. An override may be entered on the Print Options screen (PRNT).

 

An entry here will override the total asset amount carried from Schedule L.

Note: If you select the option on the PRNT screen to Force Schedules L, M-1, M-2, & K-1 Section L, the total assets will also print in Item F.




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