You can export K-1 data from a return and then import the data into another return. The return types you can perform this process for are 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|
Only one K-1 data set can be imported per return. To evaluate K-1 data in multiple versions of a return, repeat the import process for each version of the return you want to evaluate.
To import K-1 data that is exported from another return, do the following:
- Set up the export in the source return.
- Export the K-1 data from the source return.
- Open the return you want to import to.
- Select K-1 Data > K-1 from Other Returns in the Import group on the Import / Export tab.
- Select the source return to import data from. You can click a column header to sort the list by that column if needed.
- Click Validate. The system reviews the data in the file to ensure that it can be imported. When validation completes, the Validation log summary displays one of the following messages:
- Validation succeeded. You can continue with the next step.
- Validation failed. The data file cannot be imported in its current form. Click Details to view information about why the validation failed. If needed, you can print or copy the log. After viewing the log, you must exit the wizard to resolve the validation issues before trying the import again.
- Click Import.
- When the import completes, click Details to view information about the imported data.
- Click Finish.