Data Share for K1s with dispositions of property with section 179 deductions

[bradenswain]

If a partnership or s corporation tax return is completed within ProConnect that has gains resulting from dispositions of assets with 179, the gains are reported in box 20L for a 1065 return and box 17K for a 1120S return. ProConnect indicates that the following must be completed in order to report the gain:

"Enter these amounts in the Dispositions input screen. Be sure to check the box for "disposition from K-1 supplemental information.""

Gains from dispositions of 179 assets should be automatically data shared from the business to the individual tax return. The gain was already reported on the business return and then ProConnect states you have to re-enter the gain information on the personal. This is a decrease in efficiency and potential accuracy of the tax returns. The preparer has to spend the unnecessary time entering in something twice and there is a higher risk of reporting the gain information incorrectly. 

If ProConnect date shared this information automatically, this would increase the processing time and accuracy of the tax return by eliminating the need for manual data entry.