Short period partnership Return for 2020

[BruceBShiba]

My LLC is being disolved as of 5/31/20.  I am filing a short period return for 1/1/20 - 5/31/20.  Since 2020 forms are not out yet IRS allows me to use 2019 forms.  I have overridden the 2019 dates in Turbotax business (2019 edition) where possible but some forms are still using the 2019 dates.  Can I still e-file my 2020 short period return? Can I attached a document on the e-file return explaining the use of the 2019 forms?

[Anonymous_ · Accepted solution]

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@BruceBShiba wrote:

 I have overridden the 2019 dates in Turbotax business (2019 edition) where possible but some forms are still using the 2019 dates.  Can I still e-file my 2020 short period return? 

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You cannot e-file your short tax year return for 2020 (a short period that begins and ends in 2020). Rather, you have to print out your return, manually adjust the tax year on the forms, and then mail the return; in general, follow the instructions at the IRS web site (link below).

https://www.irs.gov/instructions/i1065#idm140672607514640

[AmeliesUncle]

You would also need to override the software to correspond with any changes for 2020.  There may not be much of that on a Partnership return, but you should be aware of it.

Personally, I think you would be much better off by filing an extension, and wait until the 2020 software comes out and file in January.

There also may be complex situations for dissolving a Partnership.  A tax professional is recommended for this final year.