Data Import Template: 1041 K-1 Template

Click here for the link to the Data Import Templates ZIP file.

The K-1 Template import feature can populate many of the fields on the 1041 Schedule K-1 input screens. This template is exclusively used for the 1041 tax application.

The three components of K-1 importing are:

At this time, we do not support PTP K-1s with the 1041 K-1 Template.

1041_2021_Sch_K_1_Template.xlsm

The K1_Template.xlsm contains the data to be imported into the Organizer. This file is referred to as the Data Import Template and is provided by Thomson Reuters. Data is populated in the Excel files using the Data Import Template as the starting point.

Required Fields for Import

  • TR_Setup tab
    • Firm ID
    • Account ID
    • Year
    • Tax Type
    • Locator
  • TR_1041_Sch_K_1_Detail tab
    • Entity Type
    • Activity Number
    • K-1 Name
    • Federal EIN
  • TR_1041_Sch_K_1_Group_Detail tab (only required if group detail will be imported)
    • Entity Type
    • Activity Number
    • K-1 Name
    • Federal EIN

Drop-down Listings

If you have macros enabled, the spreadsheet will have a pop-up dialog when a field is selected that contains a fixed value. The selection will provide a description and, when selected, will write the correct value needed for the tax application to the field.

If you choose not to use the macros in the template, the details for the values needed are available on the TR_1041_Sch_K_1_Strings tab.

If improper values are entered, then unexpected results can occur.

Navigation for Fields in the K1 Template

  • Organizer > Income > K-1 Income > (Name) > K-1 Information

Tabs on the K1 Template

Tab 1: TR_Setup

The TR_Setup tab contains header information. These fields are fixed and not variable. The firm ID, account ID, and locator number allow Thomson Reuters to match the K-1 Template to your firm’s account. Only the 1041 tax application is available for this import. The tax year begins with 2019 and forward.

If you choose not to enable the macros, you must make sure the column heading is correct for the option you are using.

Tab 2: TR_1041_Sch_K_1_Detail

The TR_1041_Sch_K_1_Detail tab is where the actual data to import is located. There can be multiple rows of data. However, the first and second rows are fixed. The import will use the column descriptions to know where to import the data.

The first four columns must remain as they are. The remaining columns can be moved or deleted to fit your needs.

Subsequent rows will import into a single locator (locator number entered on the TR_Setup tab). Each row will consist of a separate Schedule K-1 to be imported into the program.

K-1 data in the return will be deleted prior to import. If you have data in the return you wish to save, please do an export first for the K-1 detail.

An export will pre-populate the required columns on the Detail and Group Detail tabs based upon return data.

Tab 3: TR_1041_Sch_K_1_Group_Detail

The TR_1041_Sch_K_1_Group_Detail tab is where you would input data for group data fields. The first four columns and the first two rows are fixed. You can also import multiple rows of data.

What is Available to Import?

See the TR_1041_Sch_K_1_Map tab in the template file for details on the column heading name to be used:

  • XrefName
  • Order to Process This Group
  • TypeDesc (type of data for the field)
  • field length that can be imported.

To see what column heading will transfer to which field in the application:

  1. Open the Organizer screen you wish to access.
  2. Then use right mouse click on the field, select Field Info, and use the detail on the screen.

 

 

 

Import/Export/data_import_template_1041_k1.htm/TY2021

Last Modified: 06/11/2020

Last System Build: 10/18/2022

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