---
title: "Schedule L and  M-1 (Form 1120-S)"
description: "#### Why are my Schedules L and M-1 printing blank even though amounts have been entered? If the corporation’s total receipts for the tax year AND total assets at the end of the tax year less than $250,000, Schedules L…"
url: "https://support.taxact.com/support/1643/schedule-l-and-m-1-form-1120-s"
updated: "2026-10-06"
category: "Businesses / S Corporation (1120-S)"
tags:
  - 1120s
  - center
  - error
  - issue
  - l
  - "m-1"
  - "m-2"
  - print
  - printing
  - problem
  - schedule,
  - troubleshoot
---

# Schedule L and  M-1 (Form 1120-S)

#### Why are my Schedules L and M-1 printing blank even though amounts have been entered?

If the corporation’s total receipts for the tax year AND total assets at the end of the tax year less than $250,000, Schedules L and M-1 are not required. However, 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.

To print these schedules from your desktop return using the Forms Method:

1. From within your TaxAct^® 1120-S return (Desktop), click **Forms** in the options bar to view Forms Explorer (if it is not already visible).
2. Click the **Forms and Schedules** dropdown, then click Form 1120-S Pages 2 and 3.
3. In Forms View, scroll down to Schedule B, and after question 11, click the **Checkbox** next to *Check this box if Schedules L and M-1 are NOT required but you would like to print these schedules with the return*.

To print these schedules using the Q&A Method:

1. From within your TaxAct 1120-S return ([Online](http://www.taxact.com) or Desktop), click **Federal** (on smaller devices, click  in the top left corner of your screen, then click **Federal**).
2. Click **Balance Sheet per Books**, then click **Step-by-Step Guidance**.
3. Continue with the interview questions until you reach the screen titled ***Schedule L Balance Sheet Summary***, then click **Next Topic**.
4. Click the **Checkbox** next to *Check here if you wish to complete Schedules L and M-1 anyway*.

**Note.** You will only reach this screen if you are NOT required to file Schedules L and M-1.