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The Standard Income 12 Period report in Sage 50 shows the current fiscal year breakdown by month, from period 1 to period 12. While it doesn’t allow for custom date ranges, users can change the current period to access earlier open years. However, to generate a report for a closed year, you can create a custom financial statement. By clicking the save button while viewing the report and renaming it (e.g., "My Income 12 Period"), the report becomes a customized version and appears in the report list, enabling further analysis.