2009 technical termination in ProSeries 2008
10/27/09 1:17 PM
Total Views: 84
I'm trying to file for an LLC with a technical termination in 2009 with ProSeries 2008. The deadline for filing it is before 12/31/09 and the client (and I) want to get this filed without having to go on extension. I'm getting an error message saying that my short year beginning date of 1/1/09 is out of range, and the top of Form 1065 shows the tax year starting in 2008. Anyone know a way around this?
Answer
I just prepared a 1041, same problem - beginning date 1/18/09, ending date 10/31/09 and had to put a line through any 2008 dates and write in 2009. Attorney wanted to close out estate and send in the forms before 2009 forms were available.
Answer
As long as you paper file the return, you can ignore the warning. Make sure the correct dates are loaded into the period covered by the return. It wouldn't hurt to cross off the 08 and write in 09 to further highlight the period being covered.
Answer
Be sure to check "Short Year" box and enter dates on the Info Sheet. Then check both "Initial Return" and "Final Return" on Form 1065 Line G.
Answer
But you cannot e-file it, obviously.
Comment
Actually, you check the "Technical Termination" box, plus either "Initial" or "Final," depending on whether you're preparing the pre-termination return or the post-termination return.