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short year start date

If C corporation incorporated in spring, expenses incurred thereafter as "start-up" and then business operations begin in August, is the short tax year from the incorporation/organization date OR from the business start date?

 

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3 Replies
MinhT1
Expert Alumni

short year start date

Your short tax year should be from incorporation date to the end of the year.

 

Please read this IRS document for more information.

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short year start date

THank you for replying.  I have read similar information but there isn't a lot of detail.  TT Business automatically puts  my operations start date as the short return start date.  There doesn't seem to be anyway around that, other than to say my operations began on the formation date.  

short year start date

I figured out how to override the short year start date in TT Business to make it the incorporation/organization date.

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