Question
How do import an aggregate K-1 via K1x (csv file) and import onto a 1040 Individual Return?
I have a 1041 K-1, 1065 K-1 and a 1120-S K-1 for an Individual 1040 Tax Return, but it won't let me import it directly. Based on other sources, it appears I have to do a K-1 Transfer, by creating each business entity return (1041, 1065, and 1120-S) in Lacerte. then do I use my CSV file and import it to each individual business entity return? then go into the K-1 1040 Individual Tax Return and request a K-1 Transfer be exported and imported on the 1040 Individual Return? How does the procedure work efficiently since there is no Data integration between K-1x to Lacerte Tax Software?
