The pilot reported that about 50 feet above the ground after takeoff he began to smell smoke and then saw smoke in the cockpit. He elected to abort the takeoff and land on the runway. He said the airplane bounced once and then landed. After touchdown he steered straight with both brakes full on. When it became apparent that he could not stop before the trees at the end of the runway, he began a hard turn to right.

Read the NTSB report…