Use the Family Transfer Utility to transfer data between returns
You can use the Family Transfer Utility to transfer data between returns in the following cases:
- You need to transfer dependent modified adjusted gross income (MAGI) information between returns for Form 8962.
- You need to transfer information to calculate Form 8615, Tax for Certain Children Who Have Unearned Income.
If you need to change a return after a transfer, you can transfer the new information again using the Family Transfer Utility. You can also update the input screens manually in each return. Select
Undo
to remove transferred data.- Complete all returns to include in the transfer.
- SelectUtilities, thenFamily Transfer Utility.
- In the pane on the left, select the parent or claiming taxpayer. Select theSelect Parentbutton to move the return to the pane on the right.note
- Only clients who meet the criteria in theFocus groupbox are listed in the pane on the left.
- You can use theSearchfield to search by client ID. To search for a client by name, select theNamecolumn heading and enter a name in theSearchfield at the top.
- You have to select the parent or claiming taxpayer before selecting any dependents.
- You can only select 1 parent or claiming taxpayer.
- After the transfer completes, the system saves your selections as a family unit. For later transfers, selecting a parent or claiming taxpayer fills in theClients selectedpane with any dependents you transferred previously.
- In the left pane, select a dependent, then theSelect Child/Dependentbutton to move the return to the pane on the right. Repeat this step for all applicable dependents.
- In theTransfer type groupbox at the lower right, mark 1 or both of the following checkboxes:
- Dependent modified adjusted gross income (Form 8962):If you select this:
- Dependent information transfers to the parent or claiming taxpayer in theDependent's modified AGIsection on theCoveragescreen in theHealth Carefolder. (You can go to the Itemized/Standard Deduction & Dependent MAGI worksheet in the dependent's return to see how the dependent information calculated.)
- No calculated data transfers to the dependent's return.
- Client IDs and transfer type information transfers to theFamilyscreen in theGeneralfolder for each return in the transfer.
- Kiddie tax (Form 8615):If you select this:
- Parent information transfers to each child's8615screen in theTaxesfolder.
- No data transfers to the parent's return.
- When the transfer is complete, the tool summarizes the client IDs, return type, and transfer type.
- Client IDs and transfer type information transfers to theFamilyscreen in theGeneralfolder for each return in the transfer.
- SelectPreviewto see a report of the data that transfer between family members.
- SelectTransferto transfer the data between family members. Once the transfer has been completed, you can update it. Use the tool to transfer the data again, or update the input screen manually.note
- To review the data that was transferred, look at theFamilywindow in theGeneralfolder in each return.
- A message appears changes occur after a transfer has taken place. Follow the steps explained here to replace previously transferred information with the most current information.
- Data pro-formas to the next year. You don't have to complete this procedure every year if the family structure doesn't change.
