If Schedules L, M-1, and M-2 print blank even though amounts have been entered, it means the partnership meets all four of the following conditions:

1. The partnership’s total receipts for the tax year were less than $250,000.
2. The partnership’s total assets at the end of the tax year were less than $1 million.
3. Schedule K-1 are filed with the return and furnished to the partners on or before the due date (including extensions) for the partnership return.
4. The partnership is not filing and is not required to file Schedule M-3.

Even if the balance sheet (Schedule L) is not required for federal purposes, the information will transfer to those state returns that do require the information.

If Schedules L, M-1, and M-2 are not required but you would still like to print these schedules please follow the instructions below:

1. From within your TaxAct return (Online or Desktop) select Basic Info. On smaller devices, click the menu icon in the upper left-hand corner, then select Basic Info
2. Select Other Info (Desktop users, located below the State tab)
3. Select Continue or No until you reach the screen titled Schedule B – Schedules L, M-1, M-2 Requirements
4. If this question is answered Yes, checking the box on the next screen will allow you to print Schedules L, M-1, and M-2
5. If this question is answered No, Schedules L, M-1 and M-2 will print