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posted Jun 26, 2024 9:19:51 AM

Question about LLC Final Taxes?

Hi,

 

I closed my CA LLC back in May 2024 and the Final Tax return is due sometime in August 2024.  However, the new 2024 tax forms are not available including TurboTax Business where you can’t specify the short year beginning year as Jan 1, 2024 (with TurboTax Business 2023) which results in an error.

 

My question …

 

Do people normally just file an extension?

 

Or do people complete the final tax return (using TurboTax 2023 as an example in 2024), printing it out and changing the year from 2023 to 2024 on the 1065, 568, and other forms.  And then mailing it to the IRS?

 

What is typically done here for best results?  Any help here would be great.  Thanks!

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1 Replies
Level 15
Jun 26, 2024 12:45:45 PM

Probably nothing "typical", but you can go either way and, most likely, it would be much simpler to file an extension so that you will be able to use the 2024 edition of TurboTax Business.