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Short yr return in ATX


jshtax

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Since the short year starts on 01-01-15 I am quite sure you will need tax year 2015 software to file the short year.

Because the corporation has a short year that ends in 2015 and the 2015 forms are not yet available, the IRS will allow the final short year return to be filed on the 2014 forms.  However, because the OP's year ended on 7/31, the final return's due date is 10/15 and its due date could be extended to 4/15/16 allowing the final return to be filed on the 2015 forms.  I'd probably request the extension and file next year using the 2015 forms unless there is a state requirement that must be met by filing sooner or there is some other reason why an extension is impractical.

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I had a trust return earlier (2014 calendar year and final short year in 2015) so I don't think I had any carry over numbers.  You may just have to input the beginning numbers.  Yes, duplicate the return, rename.  My efiling was rejected by ATX for reason of it already being filed.  I called ATX and they did something to set it to go thru the efiling process.  I will have an estate income tax return coming up with a FYE of 5/31/15 and another final short year ending in 2015.

No, you don't have to wait for the 2015 forms or 2015 software.

 

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Yeah.....I am assuming I have to duplicate the file but how does the ending numbers from 12/31/14 move over to starting numbers on 1/1/15 but in the 14 software. I suppose I will just call ATX next week.

You don't duplicate it, you do a rollover. When you click on the rollover tab, you have two tabs: 2013 and last Month/Quarter. Choose Last Month/Quarter. Then choose the return you want to do a short year on. This will make your beginning depreciation and other rolled over numbers correct.

As for efiling it, it sounds like you have to call ATX to get them to allow it. I've always just paper filed.

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