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Mike569
New Member

I'm filing the final return for an estate. Turbotax automatically selects short year. Is this required or can I change to calendar year?

 
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2 Replies
ErnieS0
Expert Alumni

I'm filing the final return for an estate. Turbotax automatically selects short year. Is this required or can I change to calendar year?

Yes. It is required. 

 

IRS says: A short tax year is a tax year of less than 12 months. A short period tax return may be required when you (as a taxable entity):
 

  • Are not in existence for an entire tax year, or
  • Change your accounting period.

Tax on a short period tax return is figured differently for each situation.

 

Not in Existence Entire Year

 

Even if you (a taxable entity) were not in existence for the entire year, a tax return is required for the time you were in existence. Requirements for filing the return and figuring the tax are generally the same as the requirements for a return for a full tax year (12 months) ending on the last day of the short tax year.

 

For more information, see Publication 538, Accounting Periods and Methods

 

See Tax Years

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I'm filing the final return for an estate. Turbotax automatically selects short year. Is this required or can I change to calendar year?

What is critical is filing the return on a timely basis, which entails filing the 1041 by the 15th day of the 4th month following the close of the tax year.

 

See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000285977

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