jshtax Posted August 8, 2015 Report Posted August 8, 2015 How do I file a return in 14 software that has a short year ending July 31st? I already filed the 12-31-14 return but now have the final short year to deal with. Thanks! Quote
Randall Posted August 8, 2015 Report Posted August 8, 2015 Are you talking about the efiling of the 2nd return in the 2014 software? I think you have to call ATX and have them do something on their end to allow the 2nd return to go thru. Quote
jshtax Posted August 8, 2015 Author Report Posted August 8, 2015 Yeah.....I am assuming I have to duplicate the file but how does the ending numbers from 12/31/14 move over to starting numbers on 1/1/15 but in the 14 software. I suppose I will just call ATX next week. Quote
Joel Posted August 9, 2015 Report Posted August 9, 2015 Since the short year starts on 01-01-15 I am quite sure you will need tax year 2015 software to file the short year. Quote
jklcpa Posted August 9, 2015 Report Posted August 9, 2015 Since the short year starts on 01-01-15 I am quite sure you will need tax year 2015 software to file the short year.Because the corporation has a short year that ends in 2015 and the 2015 forms are not yet available, the IRS will allow the final short year return to be filed on the 2014 forms. However, because the OP's year ended on 7/31, the final return's due date is 10/15 and its due date could be extended to 4/15/16 allowing the final return to be filed on the 2015 forms. I'd probably request the extension and file next year using the 2015 forms unless there is a state requirement that must be met by filing sooner or there is some other reason why an extension is impractical. 1 Quote
Randall Posted August 9, 2015 Report Posted August 9, 2015 I had a trust return earlier (2014 calendar year and final short year in 2015) so I don't think I had any carry over numbers. You may just have to input the beginning numbers. Yes, duplicate the return, rename. My efiling was rejected by ATX for reason of it already being filed. I called ATX and they did something to set it to go thru the efiling process. I will have an estate income tax return coming up with a FYE of 5/31/15 and another final short year ending in 2015.No, you don't have to wait for the 2015 forms or 2015 software. 2 Quote
Abby Normal Posted August 10, 2015 Report Posted August 10, 2015 Yeah.....I am assuming I have to duplicate the file but how does the ending numbers from 12/31/14 move over to starting numbers on 1/1/15 but in the 14 software. I suppose I will just call ATX next week.You don't duplicate it, you do a rollover. When you click on the rollover tab, you have two tabs: 2013 and last Month/Quarter. Choose Last Month/Quarter. Then choose the return you want to do a short year on. This will make your beginning depreciation and other rolled over numbers correct.As for efiling it, it sounds like you have to call ATX to get them to allow it. I've always just paper filed. 2 Quote
Randall Posted August 10, 2015 Report Posted August 10, 2015 (edited) Good to know on the rollover instead of duplicating. Thanks. Edited August 10, 2015 by Randall 1 Quote
Lee B Posted August 10, 2015 Report Posted August 10, 2015 I agree with the file an extension approach.After all with all the usual "tax extender" credits and etc still up in the air,you may have a number of unknowns which won't be resolved until the end of this year. 2 Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.