1065 Direct K-1 Import/Export

The Direct K-1 Import Tool provides a mechanism for bypassing the system’s calculations and allocations on Schedule K-1. It imports federal and state K-1 partner information directly to the respective Tax Forms (Schedule K-1) and the related workpaper screens when the data is formatted as specified in the DK-1 workbook.

Only available for use in the 1065 tax application, the tool is normally used to prepare the Schedule K-1s for those partnership entities who are required to e-file according to federal and/or state requirements. Generally, these requirements are based on the number of partners in the partnership. It may also be used when a client knows what numbers they want to appear on the Schedule K-1. Information imported into the locator using the Direct K-1 Import can also be exported from the locator using Direct K-1 Export.

• Direct K-1: State K-1s that can be prepared
• Direct K-1: How the DK-1 Tool Works
  • Direct K-1: Items Needed Prior to DK-1 Import
  • Direct K-1: Reviewing the *.PX1 File
    • Direct K-1: Header Record
    • Direct K-1: Data Records
    • Direct K-1: Rules and Conventions - All Record Types
  • Direct K-1: Terms and Definitions
• Direct K-1: Using the DK-1 Comparison
• Direct K-1: Performing an Import
• Direct K-1: Performing an Export
• Direct K-1: Suggested Best Practices
• Direct K-1: Troubleshooting Tips

 

 

 

Import/Export/dk1_1.htm/TY2021

Last Modified: 06/11/2020

Last System Build: 10/18/2022

©2021-2022 Thomson Reuters/Tax & Accounting.