Is it possible to change from a calendar year to a fiscal year with an estate tax return in the first year? My brother filed the K-1 using a calendar year and electronically submitted it to the IRS early this month. He was confused as to whether use a calendar year or a fiscal year? If using fiscal year, the end of the year would be 3/31/18. Will the IRS accept an amended K-1 because a mistake was made? This will help defer income from 2017 to 2018.
