Data share basis information from a 1065 to a 1040 client
Beginning-of-year basis balances and prior-year suspended basis losses aren't automatically shared from 1065 to 1040 clients. If you need to share this information (for example, if this is the 1st year preparing a partner's return), you can indicate this in the application. For 1040 clients, end-of-year balances and carryovers proforma into the next year's application.
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Data sharing beginning-of-year basis balances and prior-year suspended basis losses will replace any data proforma'd in 1040 for these items.
- To share beginning-of-year basis balances and prior-year suspended basis losses for all partners in a 1065 client, enterXin theData share beginning of year basis and prior year suspended lossesfield in the Basis screen, located in the Partner Info Basis folder.noteData sharing for beginning-of-year basis balances and prior-year suspended basis losses for individual partners in a 1065 client isn't available.
