Started a business in October 2018
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Started a business in October 2018

We haven't filed taxes for the Oct18 - Sept19. Do I need to use Turbo Tax for Business for 2018 or 2019? I bought 2019 and went through the entire form, and my 1065 has Beginning Oct 2019 - Sept 2020? I'm not trying to file for that one yet. Trying to file for Oct 2018 - Sept 2019? 

2 Replies
Level 15

Started a business in October 2018

With respect to  fiscal years that begin in 2018 and end in 2019, you would use the 2018 version of TurboTax Business to prepare your Form 1065.



Not applicable

Started a business in October 2018

why form does the business take partnership, S-Corp, C-Corp.


the reason I ask is that in some cases a formal election must be filed with the IRS to use a fiscal year.  other wise your first year is from 10/18 through 12/18.



if you have a valid fiscal year, you use the software for the included December which would be December 2018 so 2018 software.  Also hope you have a valid extension because for a business entity with a September year-end the return was due 12/15/2019.   








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