Discussion:1065 Date Business Started post technical termination
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| Revision as of 14:04, 14 March 2009 Cbscgcpa (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 19:26, 15 March 2009 Bjeter (Talk | contribs) (The new form 106) Next diff → |
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| {{ForumNewPost|UserID=Cbscgcpa|Date=14 March 2009|Text=I am preparing the initial filing of a post technical termination Form 1065. Entity has kept original name and FEIN. What do you think I should use for "Date Business Started" pg 1. I can use the original date of XX/XX/2002 or XX/XX/2008 the first day of the "new" entity. Seems really simple and I'm inclined to use a new date (fresh start etc..) but, I'm getting hung up on technicalities. I've scoured instructions, publications and research guides. Let me know what you think.}} | {{ForumNewPost|UserID=Cbscgcpa|Date=14 March 2009|Text=I am preparing the initial filing of a post technical termination Form 1065. Entity has kept original name and FEIN. What do you think I should use for "Date Business Started" pg 1. I can use the original date of XX/XX/2002 or XX/XX/2008 the first day of the "new" entity. Seems really simple and I'm inclined to use a new date (fresh start etc..) but, I'm getting hung up on technicalities. I've scoured instructions, publications and research guides. Let me know what you think.}} | ||
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| + | {{ForumReplyPost|UserID=Bjeter|Date=15 March 2009|Text=The new form 1065 has a check box on page 1 for a technical termination. It specifically instructs you to check either the initial or final return box, so on the initial return of the "new" partnership, I would use the first day of the "new" entity XX/XX/2008. I can only imagine a flood of IRS correspondence if you put XX/XX/2002 as the business start date and checked the initial return box on a 2008 form. I don't think it matters too much, just be sure to attach all those "new" first year elections. A lot of people forget this in a technical termination.}} | ||
Revision as of 19:26, 15 March 2009
Discussion Forum Index --> Basic Tax Questions --> 1065 Date Business Started post technical termination
Discussion Forum Index --> Tax Questions --> 1065 Date Business Started post technical termination
| 14 March 2009 | |
| I am preparing the initial filing of a post technical termination Form 1065. Entity has kept original name and FEIN. What do you think I should use for "Date Business Started" pg 1. I can use the original date of XX/XX/2002 or XX/XX/2008 the first day of the "new" entity. Seems really simple and I'm inclined to use a new date (fresh start etc..) but, I'm getting hung up on technicalities. I've scoured instructions, publications and research guides. Let me know what you think. | |
| 15 March 2009 | |
| The new form 1065 has a check box on page 1 for a technical termination. It specifically instructs you to check either the initial or final return box, so on the initial return of the "new" partnership, I would use the first day of the "new" entity XX/XX/2008. I can only imagine a flood of IRS correspondence if you put XX/XX/2002 as the business start date and checked the initial return box on a 2008 form. I don't think it matters too much, just be sure to attach all those "new" first year elections. A lot of people forget this in a technical termination. | |
