1120 S PT 1 INCOME Tax return

[conveniencebrokerage]

Hello and good evening im doing this S corporation return and it keeps on giving me the issue the corporation date it was set up was in 01/04/2024 and i also put that on the info worksheet as well why does it keeps giving me the same error wanted to ask for help would be greatly appreciative 

[rbynaker]

Is there somewhere you need to tell it that you're filing a short-year return?

[conveniencebrokerage]

i am doing full year return this is what i did so far is this correct 

[Brainstrom]

I believe the election date should be 1/01/2024. Seems odd that the 4th of the month would be the date.

See if that works

[conveniencebrokerage]

ok will try that thank u

[sjrcpa]

Yes, if 1/4/24 is the first day then it is a short year return. Full year would begin 1/1/24.

Old line - what does under 24 mean?

[Just-Lisa-Now-]

Just got an email from Marc Weissman (anyone remember him?  he got kicked out of the community here for being rude I think? it was years ago), but he still sandbags and emails me when he sees a question that he can help with!

This is what he wrote and linked me to this question

the guy asking about 1120S is trying to use a fiscal year ending 1/31.

gotta be 12/31 for an S Corp

I dont speak SCorp very well, so Im just passing this along.

[taxiowa]

Election date has nothing to do with whether S-corp is filing on a calendar year or a fiscal year.  Yeah I don't know a Mark Weismann but he is wrong about S-corps having to file calendar year returns.  Most do because you have to have reason to file fiscal return but not required to file calendar.

If fiscal year ends in January 2025 then how are you even filing this return before year end?  And did you file a 27 day return for the period 1/04/24 to 1/31/24?  I kinda doubt S-corp is on fiscal year.

[IRonMaN]

Marc has been in Intuit jail for quite some time.  He e-mailed me during my Intuit jail sentence welcoming me to jail.  Fortunately for me, Biden worked out a pardon for me but neither Biden nor Trump have been able to free Marc.  But after 50 years in prison Leonard Pelletier did get a pardon so Marc shouldn't give up hope to one day be free again.

[Just-Lisa-Now-]

I tried to appeal to the Intuit gods for Marc a couple years ago, no luck.   

I dunno why he doesnt just sign up with a new email address and user ID!

[Just-Lisa-Now-]

@taxiowa   again, just passing it along, I have no clue how short or fiscal years for for corporations.

[taxiowa]

Does that mean you get to go to the White House.  Or is that just us Proud Boys from Iowa?  And I am keeping my get out of jail free card for later use.  Just glad Trump let me out before tax season.  What were you and Marc in for?  And I did not know his screen name, as I not around as much anymore.

[IRonMaN]

I'll leave the White House visits to those Proud Boys.  I was in for not being polite ------- something my attorney proved wasn't true.  I believe Marc used his name as a screen name.  I believe he was convicted of stealing a dozen eggs from the Intuit market.  Since we know how expensive they are, he was charged with an Intuit felony.

[taxiowa]

Luckily my secretary has chickens and I get free eggs.  Feeling sorry for Marc and other egg lovers that have not that option. Maybe Intuit will give a delivery of eggs discount next year with each renewal?  We all know that a "Drake" cannot offer that!

[IRonMaN]

"We all know that a "Drake" cannot offer that!"

Good point.

[Just-Lisa-Now-]

My chickens are on strike right now  😣  no eggs for me