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Copy PY values as CY (SALY)

Copy PY values as CY (SALY)
 feature can help you prepare for the extension season by letting you copy prior year values for Schedule K-1(1041, 1065, 1120S) as estimates for the current year. This can be useful if a Schedule K-1 is not available and you need to calculate taxes on the tax return. Once you have the documents available, you can upload the current year document to override all prior year data that was copied as current year value.
Select here to see all the requirements for using the
Copy PY values as CY (SALY)
 feature.

Before you begin

Your firm must enable this feature from
Account Admin > SPbinder > Form
.

Copy PY values as CY (SALY)

Follow these steps to copy prior year (PY) values as current year (CY) values for Schedule K-1:
  1. Select the
    FORMS
     tab.
  2. Select the applicable category on top then select a Schedule K-1 type.
  3. Select a Schedule K-1 entity/activity on the left panel.
    The current year column appears on the left. The prior year column appears on the right. Proforma data from the previous year will appear in the previous year column.
  4. To copy prior year values to the current year, select the checkbox for
    Copy PY values as CY (SALY)
    . If you don't see
    Copy PY values as CY (SALY)
     then select an
    Activity
     on the left panel.
    Copy PY values as CY (SALY)
     checkbox will be cleared and not available if there are no values in the PY column.
  5. On the confirmation window, select
    Yes
     to copy prior year values as current year. Select
    No
    , to cancel.
    Prior year values will be copied to the current year column.
    Fields with values that were copied from the prior year will have a brown border.
  6. Copy PY values as CY (SALY)
     checkbox will be selected and not available after the PY values are copied to the CY.
Adding a Schedule K-1 documents for an entity will override all estimated fields that were copied from the prior year proforma values.

Requirements

To use
Copy PY values as CY (SALY)
 feature, the binder must meet the following criteria:
Firm Level Settings
Enabled
Tax Year
2019 onwards
Services
All services are supported.
Leadsheet
Classic
Binder Type
1040 binder type
Tax Software
GoSystem Tax RS (Tax Year 2023 onwards)
CCH Axcess Tax
* ProSystem fx Tax (2022 and earlier tax years only)

This article applies to:

  • Product: SurePrep
  • Sub Product: SPbinder

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