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California online Form 1120-F - Schedule M-1 & M-2: What You Should Know
Schedule M-2 is, the remainder of the books of accounting for the corporation. That is, book entries showing income, deductions, and credits reported by the corporation. There are two formats of Schedule M-2, one for corporations reporting on their own books and one for corporations reporting on books controlled by a related-party corporation. The IRS Form 1120-F provides the two different ways in which a corporation reports its books. In this book, we describe how to report the profits and losses of your business using each format. Please visit our blog post if you are interested in reading about other related tax topics like taxes on business equipment and capital gains. 2021 S Corporation Tax Booklet 101 | FT.ca.
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