File a short year 2019 tax return for LLC that has closed in August 2019

[Pumpt]

Can I file a Final Short Year Return for an LLC that closed prior to years end.  The LLC closed in August 2019.  Can I file a Final Year / Short Year return for '19 by Oct 15th?  The software does not seem to let me do this.

[Carl]

Single member LLC? Multi-member LLC? either way, there is no "short year" for either type of LLC. If a single member LLC it will be reported on SCH C as a physical part of your personal 1040 tax return when you file for 2019, in 2020.  If a multi-member LLC it gets reported on a 2019 tax year1065 partnership return which will be due by March 15th, 2020. The Turbotax 2019 programs will not be out until Dec 2019 at the absolute earliest. But keep in mind the IRS will not even start accepting returns for 2019, until Jan 15, 2020 or after.

[Critter]

Does the LLC need to file a form 1065 or 1120S ?

[tagteam]

You can file a 2019 short year return (Form 1065) for a multi-member LLC:

The 2018 Form 1065 is an information return for calendar year 2018 and fiscal years that begin in 2018 and end in 2019. For a fiscal year or a short tax year, fill in the tax year space at the top of Form 1065 and each Schedule K-1.

The 2018 Form 1065 may also be used if:

1. The partnership has a tax year of less than 12 months that begins and ends in 2019, and

2. The 2019 Form 1065 isn't available by the time the partnership is required to file its return.

However, the partnership must show its 2019 tax year on the 2018 Form 1065 and incorporate any tax law changes that are effective for tax years beginning after 2018.

If you are using TurboTax Business, the problem is you will have to print and mail the return because you will have to manually write the beginning and ending dates on the forms.