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Data Sharing

How data sharing works

If you change data in a client who shares data with other clients, when you print or preview the client's return to update the calculated values, UltraTax CS asks you to update the data in the other clients.
The next time you open a client who shares data with the updated client, UltraTax CS opens the
Data Sharing - Pending Updates
 window and asks you to review the updated data. You can either accept the newer data or keep the existing data.
UltraTax CS needs to recalculate a client's return before it can update shared financial data. UltraTax will recalculate the client's return when use print or preview, but you can also spool the return to get UltraTax to update shared financial data.
To discard updates to shared data and retain the existing values, select
Retain existing client data and discard source data
, then
Retain
.
Data sharing example
Client A is an 1120S client with 2 shareholders who are both 1040 clients (Clients B and C).
After printing or previewing Client A's 1120S completed return, you open Client B, add the new K1 unit when prompted, accept the updated data, and close Client B.
Later, you go back into Client A and increase the amount of ordinary income. This will increase Client B's share of ordinary income on their K1.
For Client B to receive the updated data, you'll need to print preview Client A (to update the calculated values), then open Client B and use the
Data Sharing - Update
 to accept the updated data.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual, 1120 Corporation
  • Subject: Data sharing
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