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Use the Family Transfer Utility to transfer data between returns

You can use the Family Transfer Utility to transfer data between returns for the following scenarios.
  • Transferring dependent modified adjusted gross income (MAGI) information between returns for household income calculations needed by Form 8962.
  • Transferring information to calculate Form 8615, Tax for Certain Children Who Have Unearned Income.
To transfer information between returns, follow these steps.
note
If you need to change a return after a transfer, you can either re-transfer new information via the Family Transfer Utility, or you can manually update the input screens within each return. You can remove transferred data by selecting
Undo
 in the
Family Transfer Utility
 window.
  1. Complete data entry for all returns that will be involved in the transfer.
  2. Select
    Utilities
    , then
    Family Transfer Utility
    .
  3. In the first pane, select the parent or claiming taxpayer, and then choose
    Select Parent
     to move the return to the next pane.
    note
    • Only clients who meet the criteria designated in the
      Focus
       group box are listed in the first pane.
    • Use the search field to quickly search by client ID. To search for a client by name, select the
      Name
       column heading and enter a name in the search field at the top.
    • Select the parent or claiming taxpayer before selecting any dependents.
    • You can only select 1 parent or claiming taxpayer.
    • After the transfer completes, UltraTax CS will save your selections as a family unit. For any subsequent transfers, selecting a parent or claiming taxpayer will automatically populate the
      Clients
       selected pane with any dependents who were previously selected with the transfer.
  4. In the 1st pane, select a dependent and select
    Select Child/Dependent
     to move the return to the next pane
  5. Repeat step 4 for all dependents.
  6. In the
    Transfer type
     group box, mark one or both of the following checkboxes.
    • Dependent modified adjusted gross income (Form 8962)
       - If you mark this checkbox, data transfers as follows:
      • Dependent information transfers to the parent or claiming taxpayer in the
        Dependent's modified AGI
         statement window on the 
        Coverage
         screen in the
        Health Care
         folder. To see the calculation of the dependent information, refer to Worksheet 6, Itemized/Standard Deduction & Dependent MAGI worksheet in the dependent's return.
      • No calculated data transfers to the dependent's return.
      • Client IDs and Transfer Type information transfers to the
        Family
         screen in the
        General
         folder for each return involved in the transfer.
    • Kiddie tax (Form 8615)
       - If you mark this checkbox, data transfers as follows:
      • Parent information transfers to each child's
        8615
         screen, in the
        Taxes
         folder.
      • No data transfers to the parent's return.
      • When the transfer has been completed, the Family Transfer Utility Status will summarize the client IDs, return type, and transfer type.
      • Client IDs and Transfer Type information transfers to the
        Family
         screen in the
        General
         folder for each return involved in the transfer.
  7. Select
    Preview
     to see a report of the data that will transfer between family members. When you close
    Preview
     window, you'll be prompted to either complete the transfer or abandon the transfer.
  8. Select
    Transfer
     to transfer the data between family members. Once the transfer is complete, you may update the data by re-transferring the data using the tool or by manually updating the applicable input screens.
note
  • To review the data that was transferred, refer to the
    Family
     screen in the
    General
     folder in each return.
  • A diagnostic will indicate whether any changes have occurred in a return after a transfer has taken place. If necessary, follow the steps to replace previously transferred information with the most current information.
  • Family Transfer Utility datasharing will proforma to the next year, so it doesn't need to be completed every year if the family structure doesn't change.

This article applies to:

  • PRODUCT: UltraTax CS

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