Skip to main content
K-1 transfer
Search
Search Trust Tax (ONESOURCE) Support Help and Support.

This article applies to:

  • Product: ONESOURCE Trust Tax

Using the K-1 Transfer Feature

To use the K-1 transfer feature:
  1. Open the source account.
  2. Select the
    Recipients
     main topic.
  3. Under the
    Recipient Listing
     collapsible section, select the
    Name
     link for the target account. If the target account is not listed under the
    Recipient Listing
     collapsible section, select the
    New Recipient
     subtopic to add the target account as a recipient. After saving the target account as a recipient, return to the Recipient Summary page then, under the
    Recipient Listing
     collapsible, select the
    Name
     link for the target trust.
  4. Open the
    Options
     collapsible section.
  5. Under the
    K-1 Overrides
     group box, select the
    Transfer K-1 information to account
     check box then enter the account number of the target account in the associated field.
  6. Select
    Save
    . The following message displays:
  7. Select the check box if you want to use the name and EIN of the source account for the pass through activity that will be created in the target account.
  8. Select
    Yes
     to transfer the K-1 information to the target account.
  9. Select
    Save
    . You can now use the target account to review the source account's K-1 information.
  10. To access the source account's K-1 information, open the account binder for the target account. Select the
    Tax Review-Income
     main topic then the
    Other Schedule E
     subtopic. In the grid under the
    Other Schedule E Summary
     collapsible section, the source account has an asset type of
    Estate/Trust (K-1)
    . Select the
    Asset ID
     link for the source account to access and review the K-1 information.