2020 Short Year Return (Partnership and S-Corp)

[PTL]

2019 tax returns were filed for each entity.  PP and S-Corp need to file final 2/29/20 returns.  Obviously, 2020 software will not be available even with extensions.  Short year paper returns need to be filed.  Can I use the 2019 software to generate the 2020 short year returns?  If yes, how do I get the 2019 balance sheet, depreciation, etc to transfer to the prior year for 2020.

[sjrcpa]

Yes you can use the 2019 software to prepare the short year 2020 returns. You will be filing them on paper.

They won't proforma. You'll need to manually enter the 1/1/20 beginning balance sheet, capital accounts, basis, etc.

[PTL]

So basically copy the client and manually zero out all of the 2019 data and update the previous year information to reflect 2020.  UGH.  I had a feeling that was the case.  Was hoping for an easier solution.  Thanks.

[George4Tacks]

Do as @sjrcpa says, but be sure to make a backup copy (I copy and renumber to NNNN-19 for the original, then when done NNNN-20 for the partial year). I then massage the 2019 return to make it work for 2020 and avoid additional REP fee. Remove the e-file check marks in Screen 1.

[George4Tacks]

It might be quicker to do proforma again, then less data to zero out. You will need to do REP again, but there should be no charge

[sjrcpa]

Yes, or re pro forma as George suggested.