See Schedule B question 8 on Form 1120S and Schedule K question 13 on Form 1120 and the related instructions for M-1 & M-2 requirements
Starting with the 2002 tax year, companies with less than $250,000 of gross receipts and less than $250,000 in assets will no longer have to complete Schedules L, M-1 and M-2 of Form 1120; Parts III and IV of Form 1120-A; and Schedules L and M-1 of Form 1120S. (News Release 2002-48, 04/10/2002, IRC Sec(s). 6012)
Corporations that report total assets of $10 million or more on Schedule L of Form 1120 must complete and file Schedule M-3, Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More, instead of Schedule M-1, Reconciliation of Income (Loss) per Books with Income per Return.
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