§ 1377 Election to treat S-Corp as having 2 taxable years

[Bruce]

I have a client who will file a § 1377 election to treat their 2006 tax year as consisting of 2 taxable years - 1st from 1/1/06 to 9/30/06, and the 2nd from 10/1/06 through 12/31/06.
I know I can easily calculate a short year in Asset Keeper for the 1st short year, and then I can roll the file forward for the next short year, but I can't calculate a short year from 10/1/06 through 12/31/06, because there will be assets in the file with purchase dates prior to 10/1/06.
Is there a trick to processing the depreciation in Asset Keeper for a tax year with this situation?

[Support]

If you have a 12/31/06 year end and want to divide the year into two short years, do the following:

- Enter all activity up to 9/30/06
- Run the short year calculation through 9/30/06 from the CALCULATE menu
- Change the year end to 9/30/06 in the General section of the Client Information in the FILE menu
- Print all reports for the period 1/1/06 - 9/30/06. Do not calculate annual or monthly depreciation. Monthly reports are not available for the short year
- Run the Reset for New Year through the HOUSEKEEPING menu. This will roll your file forward to the full year 10/1/06 - 9/30/07
- Enter all activity up to 12/31/06
- Run the short year calculation through 12/31/06 from the CALCULATE menu
- Change the year end to 12/31/06 in the General section of the Client Information in the FILE menu
- Print all reports for the period 9/30/06 - 12/31/06. Again, do not calculate annual or monthly depreciation
- Run the reset for new year to advance to the full year 1/1/07-12/31/07