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- I need to do a closing of the books for an S Corp.
I need to do a closing of the books for an S Corp.
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MP
Level 2
10-10-2024
03:42 PM
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IRC 1377(a)(2) election is included in program, but in Proseries how do you treat the tax year as if it consisted of two separate tax years?
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sjrcpa
Level 15
10-10-2024
07:41 PM
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Probably the way you do it in Lacerte. Override every single line on the K-1s using the numbers you used for the "two years" in the spreadsheet you created.
The more I know, the more I don't know.
MP
Level 2
10-10-2024
09:49 PM
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Thanks, that is what I was thinking also.
