Fiscal Year Returns

[S T]

Fiscal Year returns are always a challenge for me - as I don't prepare many of them

My brain is not engaged - so can someone confirm me

Fiscal year ending 9/15/2012 on extension is reported on a 2011 form, and then the final close at 12/31/2012 is reported on 2012 form

Thanks,
Sandy

[Matt Sova]

Fiscal year

So let me see if I follow this. The fiscal year ended 9/15/12, so that year end would be reported on a 2011 return. Then this entity wrapped up on 12/31/12. If that is correct, then the short period of 9/16/12 - 12/31/12 would be reported on a 2012 return.

[S T]

Thanks

Sandy

[Burke]

Fiscal Year returns are always a challenge for me - as I don't prepare many of them
My brain is not engaged - so can someone confirm me
Fiscal year ending 9/15/2012 on extension is reported on a 2011 form, and then the final close at 12/31/2012 is reported on 2012 form Thanks,Sandy

The fiscal-year taxpayer sometimes has to use the prior year's tax form if the current year's is not available yet, but it is reported for the year the fiscal year ENDS, whether it is for a full year or a short year. Sometimes, that means two returns in one calendar year.

So if the extension of the fiscal year ending in September, 2012 (which by the way should be at the end of the month, not on the 15th)
pushed the actual due date of the return into 2013, then the 2012 forms should be available and you can use them to do both returns.