Importing K-1 Data Overview

You can import K-1 data into a return from any of the following:

  • K-1s converted to PDFs. To use this method, your firm must license the K-1 Engine. This tool automates the extraction and import of Partnership K-1 forms data and statements into Individual returns. It is available for tax year 2020 or later returns.
  • Another Tax return. The types of tax returns you can import from vary depending on the type of return you are importing the data in to, as shown in the table below.
    • Data exported from this return type.... Can be imported into these types of returns...
    Partnership Individual, Partnership, Corporation, S Corporation, or Fiduciary
    S Corporation Individual or Fiduciary
    Fiduciary Individual, Partnership, Corporation, S Corporation, or Fiduciary

    Note: After you've imported K-1 data from a return initially, you might be prompted to reimport K-1 data when you later open the return. This prompt occurs if the source return was updated, but the changes are not yet reflected in the target return. You do not have to complete the import when prompted. However, the prompt will continue to display each time the return is opened until the data is reimported.

  • A Microsoft® Excel® spreadsheet. Tax provides spreadsheet templates where you can enter data for import. You also can create a data entry template by exporting K-1 data to a spreadsheet. If you use this method, you must export from a return of the same tax year and tax system as the return you are importing into.

    • The data that can be imported from a spreadsheet is as follows:

    Return Type Entity Data imported
    Partnership Partners associated with the open return K-1 data, ratios, amount allocations,

    Schedule K overrides, K-1 footnotes
    S Corporation Shareholders associated with the open return
    Fiduciary Beneficiaries associated with the open return K-1 data, K-1 footnotes

Note: You must have edit rights for a return to import data into it.