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This article applies to:

  • Product: ONESOURCE Income Tax Express RS
  • Return type: 1040 Individual
  • Subject: Export,Import

1040 PFIC template import

The Crypto gain template import feature helps you populate many fields on the
1040 PFIC
 screens.
  1. Get the
    1040_YYYY_PFIC_Template.xlsm
     (YYYY is the year) file from the file download page and download the template. This is your starting point for data import.
    Required fields for import:
    • TR_Setup tab
      • Firm ID
      • Account ID
      • Year
      • Tax Type
      • Locator
    • TR_1040_PFIC_Detail
       tab
      • PFIC/QEF Name
      • Ownership
    • TR_1040_PFIC_Group_Detail
       tab (only required if group detail will be imported)
      • PFIC/QEF Name (only required if group detail will be imported.)
      • Ownership
    • TR_1040_PFIC_Group2_Detail
       tab (only required if group detail will be imported)
      • PFIC/QEF Name (only required if group detail will be imported.)
      • Ownership
  2. If macros are enabled, selecting a field with a fixed value will trigger a pop-up dialog. Choose the correct value from the description provided, and it will automatically populate the field. If you prefer not to use macros, refer to the
    TR_1040_PFIC_Strings
    tab for the necessary values.
    note
    Enter accurate values for the best results.

Template tabs

TR_Setup
  • Header Information
    : includes firm ID, account ID, and locator number. These fields are fixed.
TR_1040_PFIC_Detail
  • Data Entry
    : Enter your data here. The first and second rows are fixed.
  • Column Order
    : The first 2 columns must remain as they are. The remaining columns can be moved or deleted to fit your needs.
  • Rows
    :  Subsequent rows will import into a single locator (locator number entered on the
    TR_Setup
     tab). Each row will consist of a separate PFIC to be imported into the program.
    note
    Data in the return will be deleted prior to import. If you have data in the return you wish to save, export the detail first.
    Once the data is exported, do not reorder the data if you plan to reimport. Doing so could cause the import to fail if it cannot tie out the data between the Detail and Group tabs.
TR_1040_PFIC_Group_Detail
  • Data Entry
    : Enter your data here. The first and second rows are fixed.
  • Column Order
    : The first 2 columns and the first 2 rows are fixed. You can import multiple rows of data.
TR_1040_PFIC_Group2_Detail
  • Data Entry
    : Enter your data here. The first and second rows are fixed.
  • You can also import multiple rows of data. There can be rolled over amounts on this tab. The rolled over amounts are for prior year §1291 distributions. In the tax return, navigating to the data is down one node. This is where there is a second
    Add New
    .

Checking Field Details

  • Field Info
    : To see which column heading transfers to which field, right-click on the field in the Organizer screen, select
    Field Info
    , and check the details.
For 1040: Organizer > Foreign Information > Return by Shareholder of PFIC or QEF > Add New.

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