Fiscal Year confusion

[ILLMAS]

I am a bit confused, I have a TP corporation that starts on 09/01/09 and ends on 08/31/10, I am trying to figure out, if I should do the return on 2009 or 2010 tax form? The IRS instructions don't help out much and have left me more confused. Any help would be appreciated.

Thanks

MAS

[OldJack]

That would be a 2009 paper form with the fiscal year dates entered on the top of the page.

[Lion EA]

Not positive I'm thinking correctly either. You prepare the return that begins during 2009 on 2009 forms. If it's an S-corp, you let the K-1 recipients know that they will report on their 2010 returns, the year the corp fiscal year ends. The corporate return has a place at the top to put the beginning and ending dates when a fiscal year. (If you think of a currently ending fiscal year, the forms for next tax year are not out yet; so it's easier to realize you need the forms for the beginning of the fiscal year.)

[OldJack]

And look at it another way. If the fiscal year ended 8/31/2010 the tax return is due November 15,2010, and the 2010 paper tax return has not been printed or released so you have to use the 2009 paper tax return.

[jainen]

>>corporation that starts on 09/01/09 and ends on 08/31/10....The IRS instructions don't help out much and have left me more confused.<<

The Instructions for Form 1120 say, "File the 2009 return for calendar year 2009 and fiscal years that begin in 2009 and end in 2010."