K-1 Automated Data Sharing

[JasonGray]

Minimize errors and overlooked details by enabling automatic data sharing of K-1 information with 1040 clients. In UltraTax, a notification is sent when a 1040 client is opened, indicating K-1 information that requires review and acceptance. Any updates to the K-1 in the business return trigger a notification upon opening, allowing the preparer to compare the previous and updated information and decide whether to accept, reject, or defer the new data for import. Currently, ProConnect preparers must be aware of the relationship to import K-1s for a PTE, and both the preparer and reviewer need to ascertain if there have been changes to the K-1 information.