TaxAct now supports the ability to import Schedule K-1s created using the TaxAct Business Tax Products into your Individual (1040) return.
Once you have completed the Partnership (Form 1065) or S-Corporation (Form 1120S) return, you should have a K1importXX.dat file saved on your computer (XX indicates tax year - for example, the filename for 2019 will be K1import19.dat). For Desktop Business Tax Product users, the .dat file(s) will be saved in the same location as your other TaxAct files, unless you changed the path manually. For Online Business Tax Product users, you will be prompted to export/save the .dat file(s) at the end of the filing steps.
If you are using the Online program and did not save a copy of the .dat file, use the following instructions to get the file.
To export Schedule K-1 data to the K1importXX.dat file after filing your Form 1065, 1120S, or 1041 return:
To import your Schedule K-1 (Form 1065 or 1120S) into your TaxAct 1040 return: