Accepted Answer

Yes, you will be required to file 2 tax returns - 4 months on Sch C and 8 months as a bankruptcy estate on Form 1041. By filing for bankruptcy- a new entity-bankruptcy estate is formed and hence separate return is required.

Link for your information
http://www.irs.gov/publications/p908/ar02.html#en_US_publink1000137324

Let me know if you have any question.

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

Expert:	RD
Pos. Feedback:	99.4 %
Accepts:
Answered:	10/28/2009

Certified Public Accountant (CPA)

CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..