Partners and Shareholder K1 Worksheet

[Guest Taxed]

Just downloaded .09 update and still cant't finf the K1 worksheet for partners and shareholders? Did anyone else have luck finding it. I searched the Forms menu under K1, worksheet etc. can't seem to locate it.

Without this worksheet how are we suppose to enter data to complete Sc E part 2 and in most cases the Gen Business credit 3800 form. I have many clients that get K1 income so it is very important that this is done correctly (both active and passive participation)

Trx1 can you shine some light on this topic.

[TRX 1]

Hey if you goto add a form in the return and type in schk it will bring this form up. See if this is what you are asking me.

Doug

[Guest Taxed]

I believe it is just took a quick look, did not run a return with it to see if it works. This brings up an issue that I thunk most users will agree. The forms menu has lots of code words like SchK etc. It is next to impossible to remember all these codes and I did a search by K1 k and it did not find it. So can we get a alphabetically sorted list of all forms and schedules and worksheets in the program? That would be very helpful.

Also without insulting TRX remember Taxwise had a menu to add forms where you can sort it and search it etc???

I will run a test case with this worksheet, if the 3800 form and Sch E is updated for 2012?

[Kea]

I agree with Taxed regarding the list sorting. I might also be helpful to have the search box look at the "whole name" not just the first letter. That way, when you type in "K" it will pull up all forms that have K in the name anywhere. Typing "K1" would reduce that list down. OK, there might still be the problem of figuring out if you need to seach for "K1" or "K-1" but we can narrow that down with just 2 searches.

Thanks

[Guest Taxed]

Just created a sample return (actually a real client from 2011 since we can't proforma with actual data) to try out the Partner and Shareholder K1. This is what I find:

It does pull in automatically form Sch B, E and Form 4797 based on the input of the K1 line #s. BUT it did not pull in Form 3800 which is required. So I added Form 3800 to see what happens. It did not populate with the figures from the worksheet. I do realize the 3800 is for 2011 so that may be the issue. Also the calculate light was red for like 10 minutes and then turned green??

Perhaps TRX can do some more testing with the 2012 forms to see if the worksheet will pull in all the required forms and schedules based on input items. The 2011 Redgear product did that automatically based on worksheet input. You never had to worry if it would miss a form that is required.

[TRX 1]

Form 3800 once released from the IRS. It is set up to do exactly what you are wanting, every form pulling from the info put on the K1 and all forms will stay in red until completed, thus as an error check system.

Doug