You can import Fiduciary, Partnership, and S Corporation passthrough information that has been exported to a Microsoft® Excel® file from another return. The data that is exported is formatted as a template and can be imported in a rolled forward 1040 Individual return.
Passthrough data is imported 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
Reviewing the Template
Before you import, you may need to review or manipulate data in the template. Open the template (the default location for the file is your Documents folder) and do any of the following:
- 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.
To import 1040 passthrough activity, do the following:
- Click Vertical Grid in the Import group on the Import / Export ribbon.
- Browse to and select the template file. The default location is your Documents folder. The default file name includes the client ID, which will help you locate the correct file to import.
- Click Import.
- After the import completes, click Details to review the import log.
- Click Finish.