PhoebeRoberts
Level 11
Level 11

If you're doing the split-year election under IRC 1377(a)(2), be aware that you do not file two short-year returns. You file one return for the full year, and override the K-1s so each owner pays tax on their ownership period. The last time I did one of those, it took multiple Lacerte files just to produce correct K-1s, because you can't always override everything.