I have a 1041 K-1, 1065 K-1 and a 1120-S K-1 for an Individual 1040 Tax Return, but it won't let me import it directly. Based on other sources, it appears I have to do a K-1 Transfer, by creating each business entity return (1041, 1065, and 1120-S) in Lacerte. then do I use my CSV file and import it to each individual business entity return? then go into the K-1 1040 Individual Tax Return and request a K-1 Transfer be exported and imported on the 1040 Individual Return? How does the procedure work efficiently since there is no Data integration between K-1x to Lacerte Tax Software?
If these entity returns were prepared by someone else (and not on your computer in your Lacerte program) then you do not use the csv file to recreate the entity and import.
You use the K-1 for your client and key each into your 1040 file for the client. This way your Intuit program will process it to match the IRS computer needs so that IRS can use the data. It is not a pdf type of processing to create a "scrapbook" for IRS to enjoy!
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