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1377a1 election

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    #1

    1377a1 election

    The company in previous post does not want to do a year end stock sale.

    When I do a 1377 election in Pro, it does not populate anything on page 1 that the return is not a full year. Is this correct?

    Would it be correct for the corp to have 2 sets of W2's and 1099's submitted? One for the period of what transpired during S/H A ownership and one for S/H B?

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    #2
    Never mind, I think I read it wrong... The 1377 election does not actually have 2 returns filed, but only allocates how the income is calculated on K1?

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