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How do you prepare a short year return for a terminated partnership for 2024 in the 2023 software

shortridgelaw
Level 1
 
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3 Comments 3
TaxGuyBill
Level 15

Prepare the return.

Override to comply with 2024 tax laws (which may not be final until early 2025).

Mark it as a short year, final return.

Print, cross out "2023" and write "2024", and file by paper.

 

Or is there something else in particular that you are asking about?

sjrcpa
Level 15

Also put the dates of the actual year 1/1/2024 and ending xx/yy/2024


Ex-AllStar
abctax55
Level 15

And watch for any short year depreciation adjustments.

"*******Tax software is no substitute for a professional tax preparer*******
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