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- 1099-S Issued for Calendar Year when Corporation is on a Fiscal-Year Period
1099-S Issued for Calendar Year when Corporation is on a Fiscal-Year Period
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Tax Explorer
Level 4
06-18-2024
02:41 PM
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Hi,
I have a corporation that will file a 2023 1120 tax return for the fiscal-period from 04/23-03/24. The corporation sold a rental property it owned on 01/24. Should the corporation report the sale on its 2023 tax return or 2024 tax return (when the 2024 1099-S would be issued)?
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Tax Explorer
Level 4
06-18-2024
03:03 PM
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Yes, I agree as that approach would make the most sense. If a 1099-S was issued for the Calendar Year 2024, would you know if that would cause any issues when filing the 2024 fiscal-year tax return (for the period 04/01/2024 - 03/31/2023 tax return) next year?
