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Work with tax returns in TaxCaddy

Manage 1041 tax return in TaxCaddy client profile

The 1041 tax return profile is TaxCaddy's solution to managing 1041 tax returns through your client's profile. Your firm can use TaxCaddy to get and prepare 1041 tax returns for estates and trusts. You can create and edit your 1041 tax return profiles, view your clients' existing tax return profiles, move documents between tax return profiles, and create a 1041 binder.
Contact your SurePrep Sales representative (i.e. Account Manager) to enable this feature for your firm.
note
Starting from the 2023 tax year, SurePrep no longer supports integration with ProSystem fx Tax
. In FileRoom and TaxCaddy, you won’t be able to create ProSystem fx Tax clients, binders, or DRLs from 2023 tax year onwards. SurePrep will continue supporting the 2022 tax year and prior years.

Creating a 1041 tax return profile

To get and prepare a 1041 tax return for a client, first create a 1041 tax return profile for you and your clients to upload 1041 documents.
Follow these steps to create a 1041 tax return profile:
  1. On the
    Overview
     screen, select a client's tile to view the client profile. You can also search for a client and select the client tile from the result.
    note
    The
    Overview
     screen will only show updates made to the default 1040 tax return profile.
  2. On the navigation bar, select
    More Actions
    , then
    Add Form 1041
    .
  3. On the
    Add Form 1041
     window, enter the requested information from the 1041 account in the tax application.
    Field
    Description
    Name of Trust
    (Required) Enter the name of your client's trust
    The
    Name of Trust
     field can only include the following characters:
    • Alphabetic (A-Z)
    • Numeric (0-9)
    • Space ( )
    • Underscore (_)
    • Hyphen (-)
    • Apostrophe (')
    Tax Application
    Select your tax application from the dropdown menu.
    Tax Application Account number
    Select your tax application's account number from the dropdown.
    Tax Client ID
    Enter your client's ID from the tax application. Make sure to enter the client ID linked to your 1041 account in the tax application.
    * Tax Client ID is required to create a new binder in TaxCaddy. You won’t be able to create a new 1041 binder if the Tax Client ID is blank/missing.
    Tax Application Version
    • Include the version number in the format Vnumber (V1).
    • This field only applies to ProSystem fx Tax
      *
      and CCH Axcess Tax version numbers.
    Tax Application Password
    • Enter the password if it exists on the client’s tax file.
    • Password will be masked with asterisks (for example, ****). This field will be empty if no password was entered.
    If your firm currently has a custom field created and enabled in FileRoom, the custom field (for example
    Project ID
    ,
    Firm ID
    ) will appear as a mandatory field in the
    Add Form 1041
    checkbox.
    note
    If possible, we encourage you to use a custom field that is specific to your client's 1041 tax return.
  4. Select
    SUBMIT
     to create a new 1041 tax return profile.
    Select
    CANCEL
     to close without adding a new 1041 tax return profile.
    note
    Once a 1041 tax return profile has been created, it can't be deleted.
    note
    When creating a 1041 tax return profile, enter a
    TAX CLIENT ID
     to create a binder. If you have already created a 1041 Tax Return Profile, then you can use
    Edit Existing 1041
    to edit a 1041 Tax Client ID.
A
Tax Client ID
can only be used for one 1041 tax return profile. When creating or editing another 1041 profile, you can't use the same
Tax Client ID
that has already been assigned to another profile. If you see the following message, then enter a unique
Tax Client ID
:
A client already exists with this Tax Client ID.

Viewing 1041 tax return profile

To view a client's current 1041 tax return profile, select
TAX RETURN
 then select the 1041 tax return profile.
While there is a
MORE ACTIONS
 menu available while viewing a 1041 tax return profile, only a select few options will appear in the dropdown. For more options, switch back to the client's 1040 return profile.
The 1041 tax return profile will only show your uploaded documents and tax returns.
To upload a new 1041 document, select
Drag and drop or select to upload documents
. You can also drop a file in the drop area.
On the
Upload Documents
 window, select
TAX YEAR
,
TAX RETURN
, and
CATEGORY
.
Select a
Subcategory
 or select
+Add New
 to add a new subcategory.
The uploaded document will only appear in the selected tax return profile (for example, 1040, 1041) and tax year. A red badge will appear on the document tile for unviewed documents.
note
The
Activity Feed
 panel is coming soon for 1041 tax return profile.
1041 Tax Returns
Similar to uploading 1041 documents, to upload a client's 1041 tax return, select
Tax Returns
 after you select your client's 1041 tax return profile.
When uploading a client's tax return, be sure to select the tax return profile you are uploading it to in the
Upload Tax Return
 window.
The ability to generate a
Tax Summary
 for 1041 tax return is coming soon.
note
To move a 1041 tax return document to another tax return profile (for example, from 1040 to 1041), first delete the existing tax return and reupload it to the intended 1041 tax return profile.

Creating multiple 1041 tax return profiles

To create an additional 1041 tax return profiles, select
More Actions
, then
Add Form 1041
.

Editing an existing 1041 tax return profile

To edit an existing 1041 tax return profile, select
More Actions
, then
Edit Existing 1041
.
On the
Edit Form 1041
 widow, select
Name of Trust
, then make edits. You can rename the trust and change the tax application information.
If the 1041 return that you are editing is already linked to a binder, you will be warned that altering that 1041's Tax Client ID will unlink it from its binder. Select
CONFIRM
 to save the changes you made.

Moving documents between 1040 and 1041 tax return profiles

If you or your client uploaded a 1041 document in error to a 1040 tax return profile or view-versa, then you can use
Move Document
 to move documents to the correct tax return profile.
On the
Move Document
 window, select the
TAX YEAR
,
TAX RETURN
, and
CATEGORY
 you would like to move your document to.
Select the subcategory or create a new one, then select
Done
.

Sending document requests for 1041 tax returns

You can send document requests for a client's 1041 tax return profile when needed. Follow these steps to send document requests for your clients to fulfill:
  1. Open a client profile and select the 1041 tax return from the
    TAX RETURN
     dropdown.
  2. From the
    Requested Items
     tab, select
    ADD NEW REQUEST
     to begin uploading a document request.

Creating a 1041 binder in TaxCaddy

Follow these steps to create a 1041 binder from TaxCaddy:
Go to the 1041 tax return profile.
Select
Create Binder
.
note
The
Create Binder
 will be grayed out if there are no uploaded documents.
Your browser will download a PBFX file. Select the PBFX file to open the
Create New Binder
 window.
You will see the following message if the
Tax Client ID
is missing from the 1041 tax return profile:
"Enter a Tax Client ID before proceeding with binder creation."
Use the
Edit Existing 1041
 to add a 1041 Tax Client ID to your client's 1041 tax return profile.
Select
Service Type
, then
Create Binder
.
note
The
Binder Type
 can't be changed. To select a different binder type, change the tax return profile, then select
Create Binder
.
On the
Create New Binder
 window, select all options under the
Select Binder Options
section.
Once a binder is created, you can use
Select TaxCaddy Documents
 in the
Add Documents
 window to specify which uploaded documents in a client's TaxCaddy account you'd like to include in their existing binder.

Linking to an existing 1041 binder in FileRoom

Follow these steps to link a 1041 binder from TaxCaddy:
Switch to the 1041 tax return profile you want to link, then select the
Link Binder
 on your client's 1041 tax return profile.
note
Link Binder
 isn't available if there are no 1041 binders in FileRoom that match the Tax Client ID associated with the selected 1041 Tax Return Profile.
Your browser will download a PBFX file. Select the PBFX file to open the
Link Binder
 window.
You will see the following message if the
Tax Client ID
 is missing from the 1041 tax return profile:
"Unable to link binder due to missing Tax Client Id. Edit the client record in Client Management."
Use the
Edit Existing 1041
 feature to add a 1041 Tax Client ID to your client's 1041 tax return profile.
On the
Link Binder
 window, select which field you want to search by and enter your client's information in the search bar.
note
If you accidentally linked a binder that you didn't intend to link, contact SurePrep Support to unlink the binder with the client profile.
Note:
On the
Create New Binder
 window, changes made to the following fields for 1041 binder types won’t update/sync with TaxCaddy:
  • Owner
  • Members
  • Office Location
  • Restrict by Office
  • 7216 Consent Received

Uploading a 1041 tax payment

You can upload tax payments for a client's 1041 tax return profile when needed. Follow these steps to upload tax payments for your clients to fulfill:
  1. Open a client profile and select the 1041 tax return from the
    TAX PAYMENTS
     dropdown.
  2. Drag & Drop
     lets you drag your files inside that field. You can also upload the document when you select
    Drag & Drop
    .

Coming soon and feature comparison

Coming soon
The following features will be coming soon to the TaxCaddy 1041 tax return profile:
  • Activity feed
  • Messages
  • Document flags
  • Tax Summary

This article applies to:

  • PRODUCT: SurePrep
  • Sub-Product: TaxCaddy

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