Before you start:
- Calculate all client files in your original program.
- Remove any locks.
- Remove any passwords.
Table of contents:
|‣ What types of returns can I submit for data conversion?|
|‣ How do I backup my data for conversion?|
|‣ How do I verify my backup is correct?|
|‣ What items will be converted?|
What types of returns can I submit for data conversion?
- Individual (1040)
- Partnership (1065)
- Corporation (1120)
- S corporation (1120S)
How do I backup my data for conversion?
- Create a new folder on your C: drive named ConversionData before you begin the backup process (for example, C:\ConversionData).
- Open the TaxWise program.
- On the Tools menu, select Backup to Disk.
- In the Backup Options dialog box, select Start a new backup, then select OK.
- In the Select User dialog box, select the folder containing the clients you want, then select OK.
- If you select multiple folders, a separate Backing Up From dialog box appears for each folder. You'll need to repeat steps 7–8 for each folder selected.
- In the Backing Up From dialog box, select Select All.
- Select OK.
- In the following dialog, set the drive and directory to C:\ConversionData.
- Select OK.
- On the File menu, select Open Return.
- In the Return List window, select Export.
- In the Return Grid Output dialog, set the following:
- Export Type as Comma Separated Values (.CSV)
- Export Folder to C:\ConversionData
- Export Filename to ReturnGridExport
- Select Export.
How do I verify my backup is correct?
Open C:\ConversionData to view the files that you backed up. A valid TaxWise backup contains two files with the nameBACKUP. One will have an extension of .001 and the other will have .OPT. You'll also have a file named ReturnGridExport.csv. All these files are required for a valid submission.
What items will be converted?
The main purpose of this conversion is to get your data ready for the following tax year. So viewing a Form 1040 won't display the same results that had been filed. The conversion is very limited and includes only the basic information in the following PDF documents:
- List of items that will convert to Lacerte Tax
- List of items that will convert to ProConnect Tax
- List of items that will convert to ProSeries Tax