Skip to main content
BridgeBack
Search
Search Trust Tax (ONESOURCE) Support Help and Support.

This article applies to:

  • Product: ONESOURCE Trust Tax

Preparing, Reviewing and Submitting BridgeBack Files

BridgeBack files are created using a three-step process: prepare, review and submit. Each step is completed using the BridgeBack Review page, which is accessed by selecting
BRIDGEBACK
.
The graphic below shows that the BridgeBack Review page has two collapsible sections:
BridgeBack/Download Options
 and
Review
. The
BridgeBack/Download Options
 section allows you to prepare a file type for review and to submit the BridgeBack file after the review is complete. The
Review
 section allows you to review the basis information and exclude the records you do not want included in the BridgeBack file.

Preparing a File Type for Review

You can prepare BridgeBack files for wash sales and UITs. To prepare a file type for review:
  1. Select
    BRIDGEBACK
    .
  2. Under the
    BridgeBack/Download Options
     collapsible section, select
    Wash Sale
     or
    UIT
     from the
    Select type of BridgeBack
     group box.
  3. Select
    Prepare
    . The grid under the
    Review
     collapsible section populates with the basis information for the file type you selected. Previously excluded records are included in the grid and are not marked as excluded if the file type you selected was already prepared for review for the tax year.

Reviewing Basis Information and Excluding Records

On the BridgeBack Review page, the basis information for the BridgeBack file type you prepared displays in the grid under the
Review
 collapsible section. Except for the
Exclude
 column, the data displayed in the grid cannot be updated. To update the data displayed in the grid, update the source data.
The following list includes a description of each column in the grid:
  • Account
    -Displays the account number that holds the asset that needs the cost basis adjustment.
  • Account Name
    -Displays the name of the account.
  • Asset ID
    -Displays the asset ID that needs the cost basis adjustment.
  • Asset Name
    -Displays the name of the asset.
  • TAV Tax Lot ID
    -Displays the TAV's tax lot ID that needs the cost basis adjustment.
  • Original Acquired Date
    -Displays the original acquired date of the TAV tax lot ID.
  • Basis Before Adjustment
    -Displays the original basis before adjustment is made.
  • Original Face Value
    -Displays the Original Face Value. This column does not apply to wash sales.
  • Adjusted Acquired Date
    -Displays the acquired date as adjusted for the time the asset was not held. This column applies to wash sales only.
  • Units
    -Displays the number of units that need to have a cost basis adjustment.
  • Adjustment to Basis
    -Displays the amount by which the
    Basis Before Adjustment
     needs to be adjusted.
  • Adjusted Basis
    -Displays the actually adjusted basis.
  • Additional Information
    -Currently applies to wash sales only. It contains one of the following:
    • SE-Sales Units equals Purchase Units
    • SL-Sales Units less than the Purchase Units
    • SG-Sales Units greater than Purchase Units
  • Date Account Closed
    -Displays the closed date if the account was closed.
  • Changed
    -Currently applies to wash sales only. This column is populated if a previous adjustment to basis was submitted and it subsequently changed.
  • Exclude
    -This column is used to exclude a record from the submitted BridgeBack file. This is the only field that can be updated. If you exclude a record, select
    Save
     before you submit the BridgeBack file request. Otherwise, your changes are not retained for the current session, and the records you excluded are included in the BridgeBack file. Saving excluded records applies to your current session. All exclude flags (even if saved) are removed if you navigate away from the BridgeBack Review page, refresh the BridgeBack Review page, or select
    Prepare Review
     before submitting the file.
For wash sales, the basis information includes those accounts that were processed from the beginning of the tax year up to the time you selected
Prepare
. Automated wash sale identification is controlled by the selection for the PAN level or account level
Automated Wash Sale Identification
 option in the
Enhanced 1099
 category.
If the
Automated Wash Sale Identification
 option is set to identify wash sales when a worksheet is processed, then ONESOURCE Trust Tax identifies wash sales for combined accounts only when the worksheet processing request for the main account does not exclude the subaccounts.
note
Processing a worksheet for only the main account or only a subaccount may generate incorrect results because the information required to determine whether a sale is a wash sale may not be included in a single account. ONESOURCE Trust Tax does not include these requests in the identified wash sale results.
Excluding a wash sale record from one BridgeBack file can be helpful when you want to submit a BridgeBack file to your TAV that includes the cost basis adjustments from the beginning of the tax year through the end of a particular month. For example, you prepare the wash sale file type for review in early January but want to exclude the records from December because they have yet to be reviewed. In February, after the first wash sale BridgeBack file is submitted to your TAV, you prepare another wash sale file type for review. Subsequently preparing the file type for review includes the excluded December records as well as any new wash sale records in the grid under the
Review
 collapsible section.
For UITs, basis information is calculated when UIT information is received from Wall Street Concepts (WSC) and if the detail statement option is set on the UIT Asset Summary page. There is no UIT information to review until after the UIT asset information is submitted to WSC and the information is received back from WSC.
To exclude a record from a BridgeBack file:
  1. Horizontally scroll to the
    Exclude
     column in the grid under the
    Review
     collapsible section on the BridgeBack Review page. The
    Exclude
     column is the last column in the grid.
  2. Select the
    Exclude
     check box for the record you want to exclude.
  3. Select
    Save
    .

Submitting the BridgeBack File Request

On the BridgeBack Review page, the submission option available to you in the
Type of Request
 group box depends on how your PAN was set up. For example, if your PAN was set up as Download to file, the
Download to file
 check box is available for selection. If your PAN was set up as Send to TAV, the
Send to TAV
 check box is available for selection.
Selecting a file format is required for PANs that are set up as Download to file. You can select a Microsoft Excel, comma delimited, or XML file format.
To submit a BridgeBack file request:
  1. Under the
    BridgeBack/Download Options
     collapsible section on the BridgeBack Review page, select the
    Download to file
     or
    Send to TAV
     check box in the
    Type of Request
     group box.
  2. If you selected the
    Download to file
     check box, select a file format. You can:
    • Select
      Excel (.xlsx)
       to format the file as a Microsoft Excel file.
    • Select
      Comma Delimited (.csv)
       to format the file as a comma-delimited text file.
    • Select
      XML (.xml)
       to format the file as a XML file.
  4. Select
    Submit
     to submit the BridgeBack file request. If you previously submitted a BridgeBack file request for a file type for the same tax year, the records in the current request are compared with the records in the previous file(s) and any duplicate records are excluded.
  5. You can now use the BridgeBack History and Files page to monitor the status of your request. Once a BridgeBack file is submitted, you cannot access a prior year and create the same file type.