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Level 2
March 15, 2021
Solved

S Corp initial return

  • March 15, 2021
  • 1 reply
  • 17 views

I have put in the incorporation date of 3-02-2020.  I also put the S election date of 3-02-2020.  It comes back with the following:

Effective date of S Election entered is later than the beg of the tax year.

 

If I change the S election date to 1-01-2020, it says S election date cannot be before date of incorporation.  All other returns I've done through the years had no trouble with these dates.

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Best answer by Lee Peters

I had a similar situation.  The errors cleared after checking the box for Short Year on the Info Worksheet and entering the appropriate dates there as well.

1 reply

Level 2
March 15, 2021

I had a similar situation.  The errors cleared after checking the box for Short Year on the Info Worksheet and entering the appropriate dates there as well.

bhwcpaAuthor
Level 2
March 15, 2021

You are a rock star!  Thank you so much - it worked.