Error on 2019 Schedule D: "Date Sold (06/05/2019) is not a date in the current tax year"

[BraJo]

Working on a Form 1041 for an estate tax return (I am the executor).  The estate sold some stock in 2019, on 06/05/2019.  2019 Schedule D in the Capital Gains and Losses Smart Worksheet, line E2 is giving an error saying "Date Sold is not a date in the current tax year."  This seems like a blatant error in the program, since 06/05/2019 is very definitely in the current 2019 tax year!  Please fix this bug ASAP.

Note that I originally entered this information in Step-by-Step mode and it didn't complain, but I noticed this error when I had to switch to Forms mode to enter data into a non-standard form (Form 6252).  Not sure if this will affect my ability to file the return with this error or not.

[Anonymous_ · Accepted solution]

Click the General Info tab and then click About Your Trust or Estate.

Ensure that you selected the proper Tax Year and the transaction falls within that tax year.

[BraJo]

Thanks!  I had apparently selected Fiscal Year instead of Calendar Year, and that's why that date was outside the tax year.  Changing it to Calendar Year made the error go away.

[easyxpress]

There are three options for the Tax Year selecton: 1. Calendar Year; 2. Fiscal Year and 3. Short Year.

What is Short Year? I'd like to know. Thanks.

[Anonymous_ · Accepted solution]

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@easyxpress wrote:

What is Short Year? I'd like to know. Thanks.

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A short tax year is a tax year of less than 12 months. A short period tax return may be required when you (as a taxable entity):

• Are not in existence for an entire tax year, or

• Change your accounting period.

https://www.irs.gov/publications/p538#en_US_201809_publink1000270585