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TaxACT now supports the ability to import Schedule K-1s created using the TaxACT Business Tax Products into your Individual (1040) return. TaxACT Online 1065 and 1120S users will be given an opportunity to export the K1import13.dat file which will contain the data necessary for K-1 import. This file should be saved to your computer in a spot you can easily browse back to when prompted for the import in your 1040 Individual Tax return.

To export Schedule K-1 data to the K1import13.dat file when choosing to E-FILE your 1065 or 1120S return:

  1. Once your 1065 or 1120S return is ready to be filed, click the Filing tab from within your 1065 or 1120S TaxACT return
  2. Click E-File My Return
  3. Proceed through the interview questions answering all applicable information
  4. After submitting your return(s) electronically you will arrive at the screen titled Schedule K-1 Data Export
  5. Click Export Federal K-1 Data and save the file to your computer

To export Schedule K-1 data to the K1import13.dat file when choosing to file a PAPER return (or if you’ve already e-filed your 1065 or 1120S return):

  1. Once your 1065 or 1120S return is ready to be filed, click the Filing tab from within your 1065 or 1120S TaxACT return
  2. Click Mail Paper Return
  3. Proceed through the interview questions entering appropriate information. Note, if you have already e-filed your 1065 or 1120S and have already printed your return, you may choose to skip printing your return.
  4. After printing your return(s) you will arrive at the screen titled Schedule K-1 Data Export
  5. Click Export Federal K-1 Data and save the file to your computer

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