Importing 1040 Passthrough Activity From Another Return

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.

Notes:

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

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.

    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.

To import 1040 passthrough activity, do the following:

  1. Click Vertical Grid in the Import group on the Import / Export ribbon.
  2. 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.
  3. Click Import.
  4. After the import completes, click Details to review the import log.

    5. Note: The import 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. Click Finish.

Additional Information

Exporting 1040 Passthrough Activity