About the K-1 Transfer Feature
The ONESOURCE Trust Tax K-1 transfer feature applies to estates or trusts that are beneficiaries of other estates or trusts. When the K-1 transfer feature is used, the K-1 information for the source account flows automatically to the beneficiary (or target) account as a pass-through activity. Unless future K-1 transfers are prevented, the source account's K-1 information in the target account is updated each time a tax return processing request is submitted from the source account.
note
To use the K-1 transfer feature, the source and target accounts must be in the same PAN or in the same data SuperBank association as the logged-in PAN. The source and target accounts must have an entity type of
Decedents Estate
, Simple Trust
, Complex($100)
or Complex($300)
, or the trust must be identified as a 5227 trust type.