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S Corp initial return

bhwcpa
Level 2

I have put in the incorporation date of 3-02-2020.  I also put the S election date of 3-02-2020.  It comes back with the following:

Effective date of S Election entered is later than the beg of the tax year.

 

If I change the S election date to 1-01-2020, it says S election date cannot be before date of incorporation.  All other returns I've done through the years had no trouble with these dates.

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1 Solution

Accepted Solutions
Lee Peters
Level 1

I had a similar situation.  The errors cleared after checking the box for Short Year on the Info Worksheet and entering the appropriate dates there as well.

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2 Comments 2
Lee Peters
Level 1

I had a similar situation.  The errors cleared after checking the box for Short Year on the Info Worksheet and entering the appropriate dates there as well.

bhwcpa
Level 2

You are a rock star!  Thank you so much - it worked.

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