Exporting 1040 Passthrough Activity

You can export Fiduciary, Partnership, and S Corporation passthrough information from a 1040 return to a Microsoft® Excel® file. The data is formatted as a template that can then be imported in a rolled forward return.

Notes:

  • You must have the 1040 Pass-through Import license.
  • This feature applies to tax years 2016 and higher.

Passthrough data that can be exported is located in the following worksheets:

  • Income > Sch E, p2 - Fiduciary Passthrough
  • Income > Sch E, p2 - Partership Passthrough
  • Income > Sch E, p2 - Large Partnership Passthrough
  • Income > Sch E, p2 - S Corporation Passthrough

Passthrough activity for all states that exist in these locations is exported.

To export 1040 passthrough activity, do the following:

  1. Click Vertical Grid in the Export group on the Import / Export ribbon.
  2. Accept the default file location (your Documents folder) or browse to a different location. The default file name includes the client ID, which will help you locate the correct file when you perform an import.

    3. Note: If you change the export location, the system will revert to the default location for future exports.

  3. Click Export.
  4. After the export completes, click Details to review the export log.

    5. Note: The export detail logs are not retained when you exit the wizard. If you need to keep a copy of a log for your reference, click Print to send the log to a printer. You can also click Copy to add the information to the Window Clipboard. You can then paste the log information into another document.

  5. If you want the export spreadsheet to open automatically when you close the wizard, select the Launch Excel when export is complete box. If you do not want the spreadsheet top open, clear this box.
  6. Click Finish.

Reviewing the Template

You can do any of the following to review or manipulate data in the template.

  • Expand/Shrink Row. Click to show or hide heading details.
  • Display/Hide State. Click to display the State Selection window and do the following:
    • Select specific states individually.
    • Select or clear all states.
    • Select only the states that contain data.

    Note: States that are not selected are hidden in the template and will be not import.

  • Tickmark. Double-click a row in column C to enter a check mark for activity amounts that you have reviewed. When all totals for Federal or a state are tickmarked, the yellow icon in the Total row in column C turns green, indicating that all amounts for the taxing authority are reviewed.
  • Return ID. If needed, you can change the return ID in row 1, column B.

    • Note: The return ID in the template must match the ID for the return where data will be imported.

Additional Information

Importing 1040 Passthrough Activity From Another Return