Common questions about the K-1 export for Partnership returns in Lacerte

Check the box Export K-1 data to export the partner’s K-1 data to another Lacerte program. The program looks to Partner Information Type of Entity (Screen 7) to determine which program to transfer the Partner’s Schedule K-1 information to when utilizing the program’s K-1 Data Export feature. The data can be exported to the Individual, Partnership (a different return), Corporate, S-Corporation or Fiduciary program depending on the type of partner.

NOTE: If the Type of Entity (Screen 7) is set to Exempt, IRA, or Disregarded Entity, the program will not automatically export the K-1 data for this partner and a diagnostic will generate. Use K-1 Export: Partner Tax Type [O] to force the program to export to the Individual, Partnership (a different return), Corporate, S-Corporation or Fiduciary program if applicable, or uncheck the K-1 export box for this partner.

Related topics:

• How to export Schedule K-1s between tax returns in Lacerte
• Schedule K-1 Business to Business Transfers