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You can export a completed Schedule K-1 and import the data into the recipient's tax return using Lacerte.

Before you start

  • The recipient name and SSN/EIN must match exactly for the export or import to work.
  • The K-1 Data Path should be the same for all modules.
    • You can check this by going to the Settings menu and choosing Options. Then, select the Setup tab and look for the K1 Data Path.
  • The Not a passive activity and Actively participated in real estate checkboxes will not mark during import or export. 
    • The program doesn't have input for the partner level, so these must be marked in the Individual module.
  • Many Schedule K-1 income and expense items are transferred to the input screen to simplify entries on the appropriate tax return.
  • Any item that needs to be reviewed prints on a supplemental information page, but you should review all items for accuracy and correct treatment on the tax return, particularly those on the supplemental information pages.