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Using K-1 Analyzer to Integrate Partnership K-1 Source Data

K-1 Analyzer Fields:
Beginning with tax year 2020, Thomson Reuters K-1 Analyzer software allows you to electronically integrate partnership K-1 source data into the data entry points on the Partnership K-1 Input page in ONESOURCE Trust Tax. K-1 Analyzer reduces the data entry time needed to prepare quarterly estimated taxes and Forms 1041, 990, 990-PF and 990-T for accounts participating in a partnership.
You must obtain a license to use K-1 Analyzer. Contact your Client Manager to obtain a license to use K-1 Analyzer.
After you obtain a license, your Client Manager will set up K-1 Analyzer for use. As part of the setup process, you will be granted user permissions for K-1 Analyzer. The K-1 Analyzer tile in the ONESOURCE platform is activated after your user permissions are granted.
note
ONESOURCE Trust Tax does not support the XML for foreign disclosure forms. When using K-1 Analyzer, you should not select any foreign disclosure forms to integrate.
After successful integration, use the K-1 Input page to review the partnership K-1 data in ONESOURCE Trust Tax. To access the K-1 Input page and review partnership K-1 data:
  1. Select
    Tax Review-Income
     or
    Tax Review-990
     then
    Other Schedule E
    . The Other Schedule E page displays.
  2. Under the
    Other Schedule E Summary
     collapsible section, select the
    Asset ID
     link for the partnership K-1 activity you want to review.
  3. After your finish your review, select
    Save
     to save your changes.

This article applies to:

  • PRODUCT: ONESOURCE Trust Tax
  • Subject: Export,Import,Integration