TO IMPORT: Go to HOME
and COPY your data file BEFORE you IMPORT your data, in case you make a
mistake.
Financial, Income,
Expense, Capital Gains and Balance Sheet Import
You can import you
financial information from your financial or accounting package. There are
two ways to transfer data from your account software to Taxsoftware.com.
You can import a TXF file or a CSV file.
To import your TXF
file:
1) From the Information
web page click on "Accounting Import". Accounting data should be imported
at the beginning of preparing your tax return.
2) On the Accounting
web page Click on "TXF Import" and select the TXF file to import.
3) On the Accounting
web page click on "PROCESS" to transfer the TXF data to your tax return.
Any data already entered into the tax return that conflicts with the TXF
data being imported will be lost.
If you can not generate
a TXF from your accounting software then you need to generate a CSV file.
1) Use Reports/Accountant
and Taxes/Income Tax Preparation to generate a report of income tax line
items.
2) Use the Modify
Report to add a Balance column to the report.
3) Export to EXCEL.
4) You need to have
three columns KEY, 0010, and 0020. The KEY column needs to have a number
from 0,1,2,3,4 .... The 0010 is the account code tax line from your accounting
software. The 0020 is the amount from your tax software. Remove all other
columns. Add the Key column. Remove all column titles except the KEY,0010,
and 0020. Save the file as a CSV file.
To import you CSV
file:
1) Go to your accounting
software and click on
2) When the report
shows up click on "Export to Excel"
3) In the Excel spread
sheet delete all of the extra columns so that there are just two columns
left. The categories and the amounts. Change the title on the categories
column to 0010 and the title on the amounts column to 0020. The columns
can be in any order, but you must delete any blank columns in the data.
Then save the file as a CSV file.
4) From the Information
web page click on "Accounting Import". Accounting data should be imported
at the beginning of preparing your tax return.
5) On the Accounting
web page click on "Import" and select the CSV you made in step 3.
6) On the Accounting
web page click on "PROCESS" to transfer the data to your tax return. Any
data already entered into the tax return that conflicts with the data being
imported will be lost.
K-1, Capital Gains,
and Information Returns Forms Import
Many forms have IMPORT
or EXPORT buttons on the pages. You can IMPORT or EXPORT to a K-1, W2g or
any 1099, 1098, or 5498 form. To get a template for a given form. First
go the web site and enter one form and press EXPORT. This will create a
template you can paste your data into. Normally, IMPORT/EXPORT is only recommended
if you have more than 100 forms of a given type to enter. You do not need
to use the IMPORT/EXPORT if you have more than 100 forms of a given type,
but normally it is easier to IMPORT the forms then it is to enter them on
the web site by hand if you have more than 100 forms of a given type.
Each row in your spreadsheet
to IMPORT represents one form. The first column in each row is the KEY.
The KEY is a sequential number of the partner, recipient, form number or
row starting with 0. You must not skip any numbers in the KEY column. The
numbers must be in order such as 0, 1, 2, 3, etc. During IMPORT the program
will put the data from each partner, recipient or row into the row
that is numbered according to the KEY. You must not change or edit
the KEY. If you wish to add a new partner, new recipient, or new row, just
fill in the information and leave the KEY blank, and the new partner, new
recipient, or row will automatically get the next unused number. To delete
a partner or row, do not edit the KEY, just leave the Partner's Name 1 blank
(line code 0040 for K-1) or Recipient's name blank (line code 0020 for 1099,
1098 or 5498 forms) . You must save the file as CSV file in order
to IMPORT it. After you press EXPORT, select OPEN to edit the CSV file.
Press BACK after you are done editing the file. You will be asked if you
want to save the file; select YES. Then you will be asked if you want to
save the file in CSV format; select YES. After you have saved the file,
you can press the IMPORT button to import the data.
The titles of the
columns when you export your K-1 data will match the IRS line codes. You
may remove any columns you don't wish to use. You may add additional columns
if the title of the column is the IRS line code for the new column you wish
to add. Do not leave any blank column titles. All columns after a
blank column title will be ignored. If you add additional columns then any
values imported into those columns will override the calculations normally
used for those columns, all allocations will be according to the imported
data. To find out what the IRS line codes are for columns not listed
here you may contact us at elf@taxsoftware.com
Click here for a list of the IRS line codes for the K-1 and a description
of what each code means:
IRS Line Codes
for Form 1065 Schedule K-1 Tax Year 2003 and earlier
IRS Line Codes
for Form 1065 Schedule K-1 Tax Year 2004
IRS Line Codes
for Form 1041 Schedule K-1
IRS Line Codes for Information Returns (1099s,
1098s, 5498s, W2-G)
IRS Line Codes for
Form 1120S Schedule K-1