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Schedule K-1 (Forms 1065 or 1120-S) - Importing and Exporting TaxAct Returns Only
1

TaxAct supports importing Schedules K-1 created using the TaxAct Business Tax Products into your Individual (Form 1040) return.

Once you have completed the Partnership (Form 1065) or S-Corporation (Form 1120-S) return, you should have a K1importXX.dat file saved on your computer (XX indicates tax year - for example, the filename for 2023 will be K1import23.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:

  1. From within your TaxAct return (Online or Desktop), click Filing (on smaller devices, click in the top left corner of your screen, then click Filing).
  2. Click E-File or Mail Paper Return.
  3. Continue with the interview process to enter your information.
  4. After submitting your return(s) electronically, or completing the steps to paper file, click the Tools dropdown.
  5. Click K-1 Export, then click Export Federal K-1 Data.

To import your Schedule K-1 (Forms 1065) or your Schedule K-1 (Form 1120-S) into your TaxAct 1040 return:

Online Navigation Instructions
  1. From within your TaxAct Online return, click Federal, then click Step-by-Step Guidance (on smaller devices, click in the top left corner of your screen, then click Federal).
  2. Continue with the interview process until you reach the screen titled Partnership Income - Summary or S Corporation Income - Summary, then click import your Schedules K-1.
  3. On the screen titled TaxAct Federal K-1 Import, click Import Federal Schedule K-1.
  4. In the window that appears, click Choose File, navigate to the applicable K1importXX.dat file, click the file, click Open, then click Continue.
Desktop Navigation Instructions
  1. From within your TaxAct Desktop return, click File, hover your mouse over Import, then click K-1 Information.
  2. Click the Circle next to Schedule K-1 (Form 1065) or Schedule K-1 (Form 1120S) or click the Circle next to Schedule K-1 (Form 1041), then click Continue.
  3. Click Import Federal Schedule K-1, and the program will automatically locate the K1importXX.dat file.