Investors & landlords

I will page @Rick19744 for this (if he is around) as this scenario can be quite complex and you may need to seek guidance from a local tax professional in any event.

 

You need to calculate your individual tax basis in the corporation, but you do not need to file a "partial year return" for yourselves as individuals (i.e., you do not need to file a 1040 for 2023 until next year).