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How to generate or prepare a short year return in ProConnect Tax

by ProConnect Tax Online Updated 2 months ago

Table of contents:

For a partnership return:

  1. From the Input Return tab, go to GeneralMiscellaneous Information.
  2. Scroll down to the Tax Year Information subsection.
  3. Select the box Short tax year for depreciation (if applicable).
  4. Enter the Beginning fiscal year [O] (M/D/YYYY).
  5. Enter the Ending fiscal year [O] (M/D/YYYY).
  6. Enter the number of months in Number of months, if short tax year.
  7. Select Print "Short Year 20XX" (if applicable).

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For a corporate return:

  1. From the Input Return tab, go to GeneralMiscellaneous Information.
  2. Scroll down to the Tax Year Information subsection.
  3. Select the box Short tax year for depreciation (if applicable).
  4. Enter the Beginning fiscal year [O] (M/D/YYYY).
  5. Enter the Ending fiscal year [O] (M/D/YYYY).
  6. Enter the number of months in Number of months, if short tax year.

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For a S-corporate return:

  1. From the Input Return tab, go to GeneralMiscellaneous Information.
  2. Scroll down to the Tax Year Information subsection.
  3. Select the box Short tax year for depreciation (if applicable).
  4. Enter the Beginning fiscal year [O] (M/D/YYYY).
  5. Enter the Ending fiscal year [O] (M/D/YYYY).
  6. Enter the number of months in Number of months, if short tax year.

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For a fiduciary return:

  1. From the Input Return tab, go to GeneralMiscellaneous Information.
  2. Select the box Short tax year for depreciation (if applicable).
  3. Enter the Beginning fiscal year [O] (M/D/YYYY).
  4. Enter the Ending fiscal year [O] (M/D/YYYY).
  5. Enter the number of months in Number of months(negative to annualize){}.

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For a exempt organization return:

  1. From the Input Return tab, go to GeneralMisc.(990-N, 990, 990-PF, 990-T).
  2. Scroll down to the Tax Year Information subsection.
  3. Select the box Short tax year for depreciation (if applicable).
  4. Enter the Beginning fiscal year [O] (M/D/YYYY).
  5. Enter the Ending fiscal year [O] (M/D/YYYY).
  6. Enter the number of months in Number of months, if short tax year.

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If I've already e-filed the 2023 tax return in ProConnect 2023, can I e-file a Short Year 2024 return from ProConnect 2023?

No, each year can only e-file one non-amended filing for each tax year. Since the ​2023​ tax return was e-filed, you would not be able to file the short year 2024 return from ProConnect 2023 as it would be the second return using the 2023 forms.

You will need to either paper file the 2024 return, or wait for the ProConnect 2024 program to be released with final forms, and e-file the 2024 return from ProConnect 2024.

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