1120-US: Changing Tax Year End (FAQ)

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The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.


How do I change the dates that are displayed under the Preceding Tax Year column on various worksheets, like the Net Operating Loss Carryover Worksheet or the Carryover Worksheet?


Enter the tax year-ends only for a short year or year of change on Screen CO in the Carryovers folder. Each of the preceding tax years are calculated based on the current or preceding tax year.

For example, if a return currently has a 12/31/17 year-end but had changed from a 06/30 year-end in 2015, the fields would appear as indicated in the following table.

Preceding Tax Year Date
3rd 06/30/15

The preceding year-end dates calculate as follows.

Preceding Tax Year Date
4th 06/30/14
3rd 06/30/15
2nd 12/31/15
1st 12/31/16

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