The SmartBridge Probes Category
SmartBridge probes are data searches that detect errors, missing information and inconsistencies in your account, recipient (or beneficiary), transaction, capital sales and asset data. They can help improve the integrity of the data bridged to from your trust accounting system and can help reduce review time.
Account, recipient and asset SmartBridge probes evaluate your data when a worksheet or tax return is processed. Transaction and capital sales SmartBridge probes evaluate your data when it is loaded from your trust accounting system to your ONESOURCE Trust Tax database.
SmartBridge probes notify you of errors, missing information and inconsistencies in the following ways:
- For account, recipient and asset data, a message can be added to the first page of the worksheet detail or to theCurrently Processingregister. Tax return and/or projection processing requests can also be stopped.
- For transaction and capital sales data, the transaction can be marked with a HIT message that displays with the transaction on the on the Transaction Detail or Sales Detail page. On the worksheet, the HIT message can be printed with the transaction, which is printed in bold. Tax return and/or projection processing can also be stopped.
note
If the
Can force compute accounts with SmartBridge errors
user right was granted to you, you can bypass SmartBridge probes when you submit a processing request. Bypassing SmartBridge probes allows the processing request to complete, even when the error, missing information or inconsistency is detected. To bypass SmartBridge probes, select the Bypass SmartBridge Probes
check box is selected on the Process page or pop-up window.SmartBridge probes can be set at the SuperBank and PAN levels. The probes include:
Account Probes
Option | Description |
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Invalid account filing status | This SmartBridge probe identifies accounts that have an invalid entity type, such as N/A or Unknown . The selections include:
Regardless of how this probe is set, you can use the Invalid Entity Type base register to review accounts that have an invalid entity type. |
Simple account with principal distributions-forced to complex $300 | This SmartBridge probe automatically changes simple trusts to complex $300 trusts when transactions from the principal portfolio are posted to the beneficiary distribution tax codes. The selections include:
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Account contains working interest/royalty tax codes (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies accounts with transactions posted to a working interest or royalty tax code (tax codes 16, 26, 37, 38, 48, 49, 61, 63, 64, 70, 106 and 113). The selections include:
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Account contains partnership income (tax code 12) | This SmartBridge probe identifies accounts with transactions posted to tax code 12 (Partnership Income). The selections include:
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Account contains other income (tax code 60) (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies accounts with transactions posted to tax code 60 (Other Income). The selections include:
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Account contains estate and trust income (tax code 43) (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies accounts with transactions posted to tax code 43 (Estate & Trust Income). The selections include:
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Account contains sales with date or cost unknown (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies accounts that contain capital sales with a missing acquisition date or an unknown cost or term. The selections include:
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Employer ID of trust is blank or invalid | This SmartBridge probe does not apply to accounts with an entity type of Agent/Custodian . It identifies accounts with an empty or incorrectly formatted EIN. The selections include:
Regardless of how this option is set, you can use the Missing Federal Tax Payer I.D. base register to review accounts with an empty or incorrectly formatted EIN. |
No trust situs present for the account | This SmartBridge probe does not apply to accounts with an entity type of Agent/Custodian or 990 . It identifies accounts with an empty or unknown situs state. The selections include:
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No creation date for the account | This SmartBridge probe does not apply to accounts with an entity type of Agent/Custodian or 990 . It identifies accounts that are missing a creation date. The selections include:
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No BNC (name control) for the account (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Agent/Custodian , Grantor , Tax Deferred Account or 990 . It identifies accounts that are missing a BNC. The selections include:
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Dividend transaction without Ex-date (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies accounts with dividend transactions posted to tax codes 2, 3, 5, 6, 201 and 202 that do not have ex-dividend dates.note
The ex-dividend date is used in the determination process for qualified dividends. Any transaction without an ex-dividend date is considered qualified dividend income. The selections include:
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Computed during 60 day (90 day if applicable) period after ex-dividend date (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies accounts that have a return that was computed within the 60 or (if applicable) 90-day holding period used to determine whether a transaction is qualified or nonqualified.note
This SmartBridge probe alerts you to the possibility that a sales transaction could occur that would cause the dividend to become a nonqualified dividend. For this SmartBridge probe to work, the transaction must have an ex-dividend date and must be posted to tax codes 3, 5, 6, 201 or 202. The selections include:
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No units specified on a dividend where the asset was sold within 60 day (90 day if applicable) period after ex-dividend date (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies accounts with dividend transactions posted to tax codes 2, 3, 5, 6, 201 or 202 that have no units and where the asset was sold during the 60 or (if applicable) 90-day holding period.note
To reclassify the appropriate portion of a dividend transaction as a nonqualified, the number of units paid for the dividend transaction must exist. When the number of units exists, ONESOURCETrust Tax determines the number of units sold within the 60 or 90-day holding period. The units from the sale and the units from the dividend transaction are used to make an allocation of the dividend income between qualified and nonqualified dividends. The selections include:
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Account Out of Balance | This SmartBridge probe includes the balance information on the first transaction detail page of the worksheet when the ending balances for the income and principal portfolios do not match the ending balances transmitted from your trust accounting system for the same period. note
When a worksheet is processed, ONESOURCE Trust Tax calculates the ending balances for the income and principal portfolios using last year's ending balance and the current year's transactions. The calculated balance is compared to the ending balance from your trust accounting system for the same period. Variances may indicate missing or duplicate transactions or that the ending balance received from the trust accounting system is incorrect. The selections include:
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Account contains CTF, Mutual or Factored funds that are out of balance (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It generates a message when the total factored amounts and the total distribution amounts for an account's common trust funds (CTFs), mutual funds and other factored funds do not match. The selections include:
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Transactions created from REMIC report (TC 995/996) but no original transactions found (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account .This SmartBridge probe applies to the WSC Plus Package. It identifies accounts with transactions that were created by ONESOURCE Trust Tax based on a REMIC report but where no transactions actually existed in the original REMIC report. The selections include:
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Transferring K1 account has not been processed (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account .To successfully transfer Schedule K-1 data from a distributing account to a receiving account, the distributing account must be processed before the receiving account. This SmartBridge probe identifies if the distributing account has been processed. The selections include:
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Sales exist after Return of Capital (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies transactions posted or factored to tax code 4 with corresponding sales with trade dates greater than or equal to the ex-dividend date of the dividend transaction. If the ex-dividend date is blank, the tax effective date is used. The selections include:
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Account contains transactions held for review (tax code 997) | This SmartBridge probe prevents a user from processing a tax return or tax return projection for an account that has one or more transactions posted to tax code 997 (Hold for Review). The selections include:
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Account contains transactions not reportable on 1099 Div, Int or OID | This SmartBridge probe identifies transactions with invalid registration codes that are posted to a 1099-DIV, INT or OID tax code. The selections include:
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The Employer ID of a sub account does not match the Employer ID of the main account | This SmartBridge identifies all sub-accounts where the employer ID does not match the employer ID of the main account. The selections include:
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Final Account contains accrued interest paid (tax code 991) (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies final accounts that have transactions posted to tax code 991 (Accrued Interest Paid-Carryover). The selections include:
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Wash sales were identified by the Automated Wash Sale calculation (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies the wash sales that were identified by the automated wash sale calculation. The selections include:
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Sales exist after Wash Sale (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies sales that exist after a wash sale is identified by the automated wash sale calculation or a ONESOURCE Trust Tax user. The selections include:
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Tax lots exist where the wash sale disallowed loss amount entered is greater than the tax lot's loss amount (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies wash sales that have at least one tax lot where the wash sale disallowed loss amount is greater than the loss amount of the tax lot. The selections include:
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Sales match Market Discount Transaction (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies sales whose trade date matches the tax effective date of a market discount transaction of the same asset posted to tax code 158, 162, 183, 184, 185, 186, 215, 216, 224, 226, 227 or 228. The selections include:
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Sales with ROC match Free Receipt Transaction (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies sales with return of capital that also have free receipt transactions (tax code 951) within the tax year. The selections include:
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Tax lot(s) exist with calculated ROC in excess of Cost Basis (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies sales where one or more tax lots have return of capital in excess of cost basis. The selections include:
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Beneficiary Probes
Option | Description |
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No beneficiary information for account | This SmartBridge probe identifies if no recipients (or beneficiaries) are listed on an account. note
This SmartBridge probe does not apply to 990 accounts. The selections include:
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Beneficiary distributions present without beneficiaries | This SmartBridge probe identifies accounts without recipients (or beneficiaries) that have one or more transactions posted to the beneficiary distribution tax codes. note
This SmartBridge probe does not apply to accounts where the 1099 and 5498 form series is generated or to 990 accounts. The selections include:
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Beneficiary(s) present with a blank or unknown state of residence | This SmartBridge probe does not apply to 990 accounts. It identifies whether the Resident State field for a recipient (or beneficiary) is empty or is set to Unknown . The selections include:
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Beneficiary EIN/SSN is blank or invalid | This SmartBridge probe does not apply to 990 accounts. It identifies recipients (or beneficiaries) with a blank or invalid EIN or SSN. note
Because FORM1042S is a valid TIN entry, this SmartBridge probe does not identify recipients (or beneficiaries) with a SSN or EIN of FORM1042S. The selections include:
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Beneficiary Resident State does not match the State of their address | This SmartBridge probe is not applicable when the resident state is set to Non Resident (foreign) or Not needed . It identifies recipients (or beneficiaries) where the resident state is not the same the state in the recipient's address. The selections include:
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Transaction Probes
Option | Description |
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Improper sign for transaction type | This SmartBridge probe identifies reversal transactions. Reversal transactions are:
The selections include:
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Beneficiary distribution or receipt without a social security number | This SmartBridge probe identifies beneficiary distribution transactions or receipt transactions that do not have a SSN or EIN included in the Paid For field.The selections include:
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Receipts from promissory notes (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies transactions included in the income portfolio and posted to tax code 944 (Payments Received On Installment Obligations). The selections include:
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Partnership payments | This SmartBridge probe identifies transactions posted to tax code 955 (Payments from Partnerships). The selections include:
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Beneficiary distribution or receipt not matched to a valid beneficiary | This SmartBridge probe identifies beneficiary distribution transactions or receipt transactions where the SSN or EIN in the Paid For field does not match the SSN or EIN for an active recipient (or beneficiary) listed on the account. The selections include:
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Tender offers or security exchanges (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies transactions posted to tax codes 941 (Taxable Exchanges) and 942 (Nontaxable Exchanges). The selections include:
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Tax codes with incorrect sign | This SmartBridge probe identifies negative transactions posted to an income tax code or positive transactions posted to an expense tax code that are not noted as reversals. The selections include:
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Dividend income posted to principal (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies transactions included in the principal portfolio that are posted to one of the dividend tax codes.note
This SmartBridge probe may identify a transaction that is a return of capital rather than dividend income. The selections include:
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Reversal of transaction | This SmartBridge probe identifies transactions that are indicated as reversals your monthly data load. The selections include:
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Difference between posting date and tax effective date is more than 10 days | This SmartBridge probe identifies transactions that have more than 10 days between the posting date and the tax effective date. note
This SmartBridge probe can help identify prior year tax transactions included in your January data file. The selections include:
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Transaction tax effective date is after account closed date (posting date is before account closed date) | For closed accounts (or accounts marked as having a final return), this SmartBridge probe identifies transactions where the posting date is prior to the account's closed date and the tax effective date that is after the account's closed date. The selections include:
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Interest income posted to principal (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies interest transactions included in the principal portfolio. The selections include:
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No matching REMIC accrued amounts found (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account .This SmartBridge probe applies to the WSC Plus Package. It identifies REMIC transactions with accrued interest amounts in the original REMIC report. The selections include:
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No asset name associated with CUSIP for Transactions created by OID process (Does not apply to Tax Deferred Accounts) | This SmartBridge probe does not apply to accounts with an entity type of Tax Deferred Account . It identifies OID transactions created by the OID process that do not have an asset name associated with the CUSIP. All OID transactions must have an asset name associated with the CUSIP.note
This SmartBridge probe applies to OID transactions created by the OID process only. The selections include:
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Capital Sale Probes
Option | Description |
|---|---|
Reversal of sale transaction | This SmartBridge probe identifies capital sale transactions that are indicated as reversals in your monthly data load. The selections include:
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Negative cost basis on sale transaction | This SmartBridge probe identifies capital sale transactions with a negative cost basis. The selections include:
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Sale with zero units | This SmartBridge probe identifies capital sale transactions with no units. The selections include:
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Sale with federal cost basis equal to zero | This SmartBridge probe identifies capital sale transactions with no cost basis. The selections include:
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Sale with blank federal acquired date | This SmartBridge probe identifies capital sale transactions with no federal acquired date. You can select one of the following:
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Acquired date is after sale date | This SmartBridge probe identifies capital sales transactions with a federal acquired date that is after the sold date. The selections include:
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Sale of PA municipal asset acquired after 1/31/94 | This SmartBridge probe identifies sales of Pennsylvania municipal interest acquired after January 31, 1994. ONESOURCE Trust Tax determines whether the asset is Pennsylvania municipal interest based on the asset type and the origin code. The selections include:
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Difference between settlement date and trade date is more than 10 days | This SmartBridge probe identifies capital sale transactions with more than 10 days between the trade date and the settlement date. The selections include:
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Sale trade date is after account closed date (settlement date is before account closed date) | For closed accounts (or accounts marked as having a final return), this SmartBridge probe identifies capital sale transactions where the settlement date is prior to the account's closed date but the trade date is after the account's closed date. The selections include:
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Municipal Bond maturity at a loss | This SmartBridge probe identifies municipal bond transactions with a capital loss at maturity. The selections include:
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Asset Probes
Option | Description |
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Account contains transactions for asset marked "Held for Review" | This SmartBridge probe identifies accounts that contain one or more transactions for an asset that is marked as held for review. An account that has an asset marked as held for review cannot be processed until the hold is released. The selections include:
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Account contains sales for asset marked "Held for Review" | This SmartBridge probe identifies accounts that contain one or more sales for an asset that is marked as held for review. The selections include:
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Account contains tax-exempt transactions for asset with no state of issue | This SmartBridge probe identifies municipal and territorial asset transactions that do not have a valid origin code. The selections include:
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Account contains foreign withholding transactions for asset, but missing foreign dividend or interest transactions | This SmartBridge probe identifies foreign withholding transactions (which are posted to tax code 29, 39, 299 or 499) that have no foreign dividend or foreign interest component. The selections include:
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