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Form 1065 Initial Year

Jimmy Awad
Level 2

Why Proconnect does not generate the short year beginning and ending dates on the top of the Form 1065 for initial return of partrship which started during the year?

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2 Replies 2
George4Tacks
Level 15

It is still a calendar year filing. 


ex-AllStar
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Jimmy Awad
Level 2

Yes, but it should be short year.

IRS: Short Tax Year

A short tax year is a tax year of less than 12 months. A short period tax return may be required when you (as a taxable entity):

  • Are not in existence for an entire tax year, or
  • Change your accounting period.
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