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.
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:
- Click Vertical Grid in the Export group on the Import / Export ribbon.
- 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.
- Click Export.
- After the export completes, click Details to review the export log.
- 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.
- 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.
- 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.