TaxAct® supports the ability to import Schedule K-1s created using the TaxAct Estates & Trusts Tax Products into your Individual (1040) return.
Once you have completed the Estates & Trusts (Form 1041) return, you should have a K1import18.dat file saved on your computer. For Desktop Estates & Trusts 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 Estates & Trusts Tax Product users, you will be prompted to export/save the .dat file(s) at the end of the filing steps.
To import your Schedule K-1 (1041) into your TaxAct 1040 return
- From within your TaxAct (Online) return, click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
- Click Income in expanded sub-menu
- On the page titled Your 2019 income summary, click Review to the right of Other Income
- Click Estate or trust income (Form 1041 Schedule K-1)
- Click No until you reach the screen titled Other Income - Estate and Trust
- To the right of the question Did you use the TaxAct 1041 program? click the link import your Federal Schedules K-1.
- Click Import Federal Schedule K-1
- Locate the applicable K1import18.dat file within your computer folders to import the Schedule K-1
- From within your TaxAct Desktop return, click File in the top left corner
- Hover your mouse over Import, and then select K-1 Information
- Select Schedule K-1 (Form 1041) then click Continue
- Click Import Federal Schedule K-1. Note. The program will automatically locate the K1import18.dat file.