Prepare a final short-year return
Do the following to prepare a final, short-year
2026
return for a fiduciary using the 2025
version of UltraTax CS. The IRS accepts such returns on 2025
forms.note
If the short year begins after December 31,
2025
, you'll need to incorporate any tax law changes that are effective for the next tax year. - If the return was prepared in the prior year, do the following in the return.
- SelectFilethenSave Asto create a copy of the return for the short year.
- Update any carryovers, as appropriate, in theCarryovers & NOLfolder.
- Remove any data that shouldn't exist for the short-year return.
- If the return is a 1st and final short-year return, create a new client.
- In your client's return, select theGeneralfolder to open the1041screen.
- Enter or update the tax period dates for theTax year: Beginning, if short yearandEnding, if other than 12/31fields.
- If the return is calculating depreciation, enter dates in thePrior year ends, if differentfields. In the detail of each asset, add the current depreciation (from2025) and the prior depreciation shown in thePrior Depreciationfield, and enter the total in thePrior Depreciationfield.
- Enter income, deductions, and beneficiary information for the current return.noteYou can electronically file the final2026short-year return using2025UltraTax CS.
