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Business & farm
The issue here is that the business closed in the current year; 2024.
There are no 2024 forms at this point and won't be available for some time.
The way to handle this is to use the 2023 software / forms, print out the return(s) and cross out 2023 and mark 2024.
If you have already created and filed the 2023 return using TT, then you will not be able to rollover the data and unfortunately need to prepare the return manually; a second option would be to create a "new" 2023 return but you will need to manually input most of the information.
You will need to paper file the return.
Also make sure that you don't file the final 2024 return too close to the 2023 return to avoid confusion.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎June 25, 2024
4:10 PM