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How to proforma prior-year returns into current-year returns in ProConnect Tax

by Intuit•2• Updated 1 month ago

If you receive an error message along the lines of You currently don't have permissions to [action]. Contact your firm's Admin for authorization either when trying to create new returns or when e-file roles have changed for tax year 2023, see here for how your firm Admin can resolve it.

Table of contents:

This article will help you:

‣ Transfer one return into next years tax return.
‣ Batch transfer multiple returns into the next years returns.
‣ Understand and resolve any proforma errors.

Transfer one return into next years tax return.

Method 1: From the Tax Returns View

  1. Go to the Tax Returns view.
  2. Locate the client you're creating the return for.
  3. Under the Actions column on the far right, use the dropdown menu to Create a New Tax Return for the existing client.
    • A new screen will appear with the prior-year return checked automatically for transfer of the prior-year information
  4. If you don't want the prior year information to transfer into the new return, uncheck the box Transfer return data from tax year 20YY.
    • YY represents the two-digit tax year.
  5. Click Save and Continue.
    • The new return for the current year will open up.

If there are multiple returns shown, you must select the return to transfer the information from.  The program defaults to the first return on the list.

Method 2: From the Clients View

  1. Go to the Clients view.
  2. Under the Actions column on the far right, use the dropdown menu to Create a New Tax Return for the existing client.
    • A new screen will appear with the prior-year return checked automatically for transfer of the prior-year information
  3. If you don't want the prior year information to transfer into the new return, uncheck the box Transfer return data from tax year 20YY.
    • YY represents the two-digit tax year.
  4. Click Save and Continue
  5. The new return for the current year will open up.

If there are multiple returns shown, you must select the return to transfer the information from.  The program defaults to the first return on the list.

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Batch transfer multiple returns into the next years returns.

  1. Select Settings at the top-right
  2. Choose Batch Actions (Transfer Prior Year Data).
    • This will show the prior year returns.
  3. To choose all the clients, check the box next to CLIENT NAME.
  4. To choose all clients who don’t have a current-year return yet, check the box next to those client names.
  5. Click on Start Transferring from the bottom right corner of the screen.
    • This will start the automated transfer. Once complete, the list will show a status of Complete for each return.
    • If a tax return is listed here, but can't be selected, you need to remove the access restriction to proforma. Refer to this article for more information.

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Understand and resolve any proforma errors.

  • Any returns set to Restrict Access can't be rolled over until the restriction is lifted. Refer to this article for instructions.
  • For individual returns, make sure that a Date of Death is entered on the General > Client Information screen. Returns with a Date of Death won't proforma.
  • For business returns, go to the General > Misc. Info. screen. Make sure the return isn't marked Final and the box labeled Converted client (proforma use only) isn't checked.

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If the return had an ending balance in the prior year, ProConnect Tax will automatically proforma those amounts to the current year Balance Sheet screen. However, the amounts may not show on the Schedule L until ending year amounts have been entered and requirements for completing the balance sheets are met.

Follow these steps to make sure the amounts are present on the Balance Sheet screen:

  1. Go to the Balance Sheet screen for your tax type:
  2. Make sure that amounts are available under the Beginning column.
    • Transferred data will have a green outline for the field.
  3. Make sure the current year's income and ending amounts have been entered.

Forcing the balance sheet when not required

If the corporation or entity isn't required to complete the balance sheet, it'll default to being blank. You can force the software to generate the balance sheet when not required—either on a global level or just for a specific client. 

Select your tax type below for instructions on forcing the balance sheet on a return-by-return basis.

  1. Go to Input Return ⮕ Balance Sheet ⮕ Balance Sheet Miscellaneous.
  2. Scroll down to the Other subsection.
  3. Enter a 1 in Balance sheet, M-1, M-2: 1= force, 2= when applicable [Override].
  1. Go to Input Return ⮕ Balance Sheet, M-1, M-2, M-3 ⮕ Balance Sheet Miscellaneous.
  2. Scroll down to the Other section.
  3. Enter a '1' in the field Balance sheet, M-1, M-2: 1=force, 2=when applicable [Override].
  1. Go to Input Return ⮕  Balance Sheet, M-1, M-2 ⮕ Balance Sheet Miscellaneous.
  2. Scroll to the Other subsection.
  3. Enter 1 in the field Schedules L, M-1, and M-2: 1=force, 2=when applicable [Override].

If a K-1 is marked as final, the partner won't proforma, or transfer, to next year's return. Follow these steps to verify if it was final in the previous tax year:

  1. Open the tax return for the prior year.
  2. In the client's Schedule K-1 Miscellaneous section
  3. Go to section Partner Schedule K-1 Miscellaneous Information.
  4. Check for an entry in field Final K-1: 1=yes, 2=no [O]
    • If present, it indicates the last tax year was the partners final year, so they will not appear in the new year.
    • If this is incorrect, you can remove the input, remove the return that was created for the new tax year, and transfer the client again.
    • Note: You should review the partnership and associated partner's returns after making this change to determine if amendments are needed. Final year K-1s can impact other items such as passive loss limitation on the individual return.

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