Form 1065 item G - "Final return"

I mistakenly selected the "Final return" box at item G in the first-year return filing in 2021. I should have selected the "Initial return" box. Our company did not cease to exist and has still operated since then. Should we do anything to correct this mistake?

If not, in the 2022 tax filing, should I select the "Initial return" box?

Thanks very much.

273

Level 15

Dec 29, 2022 5:50:40 PM

I am not sure you would want to do that for 2022, but you can most likely simply check the Amended and Initial boxes for 2021 and mail that in along with a letter of explanation since nothing else needs to be changed.

@Rick19744 ?

Level 13

Dec 29, 2022 7:03:41 PM

This may turn into a letter writing quagmire, but at this point I would just move forward with a normal return.

I might attach an attachment to the 2022 return explaining that 2021 box was checked in error.

This return may get pulled for review and this statement may provide some guidance.

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Form 1065 item G - "Final return"