Taxsoftware.com, K-1 Line Code Help

Import / Export Your Data

IMPORT: Go to HOME and COPY your data file BEFORE you IMPORT your data, in case you make a mistake.

There are many forms that have IMPORT or EXPORT buttons on the pages. You can IMPORT or EXPORT K-1, W-2G or any 1099, 1098, or 5498 form

This first column is the KEY. The KEY is a sequential number of the partner, recipient or row starting with 0. During the IMPORT the program will put the data from each partner, recipient or row onto the row that is numbered according to the KEY. You must not change or edit the KEY. If you wish to add a new partner, new recipient or new row just fill in the information and leave the KEY blank, and the new partner, new recipient or row will automatically get the next unused number. To delete a partner or row do not edit the KEY, just leave the Partner's Name 1 blank (Line code 0040 for K-1) or Recipient's name blank (Line code 0020 for 1099, 1098 or 5498 forms) . You must save the file as CSV file in order to IMPORT it. After you press the EXPORT select OPEN to edit the CSV file. Then press BACK after you are done editing the file. You will be asked if you want to save the file, select YES. Then you will be asked if you want to save the file in CSV format, select YES. After you have saved the file, you can press the IMPORT button to import the data.

The titles of the columns when you export your K-1 data will be according to the IRS line codes. You may remove any columns you don't wish to use. You may add additional columns if the title of the column is the IRS line code for the new column you wish to add. If you add additional columns then any values imported into those columns will override the calculations normally used for those columns, all allocations will be according to the imported data. Do not leave any blank column titles. All columns after a blank column title will be ignored. To find out what the IRS line codes are for columns not listed here you may contact us at elf@taxsoftware.com Here is a list of the IRS Line Codes for the 1065 K-1 and what each code means:

Line Code	Identification	Length	Field Description
0030	Partner's Identifying Number (Partner's EIN or SSN)	9	Number or "APPLD FOR" or "FOREIGNUS"
0040	Partner's Name 1	35	String
0050	Partner's Name 2	35	String
0060	Partner's Address 1	35	String or "NONE"
0065	Partner's Address 2	35	String
0070	Partner's City	22	String
0080	Partner's State	2	State or leave blank for foreign address
0080Z	Partner's Zip Code	12	Zip code or leave blank for foreign address
0170	General Partner	1	"X" or BLANK
0172	Limited Partner	1	"X" or BLANK
0174	Limited Liability Company	1	"X" or BLANK
0190	Type of Entity	12	String
0200	Is Partner Domestic	1	"X" or BLANK
0210	Is Partner Foreign	1	"X" or BLANK
0220	Partner's % of Profit Sharing before change	6	Float
0230	Partner's % of Profit Sharing end of year	6	Float
0240	Partner's % of Loss Sharing before change	6	Float
0250	Partner's % of Loss Sharing end of year	6	Float
0260	Partner's % of Capital before change	6	Float
0270	Partner's % of Capital end of year	6	Float
0290	Partner's share of liabilities - nonrecourse	12	Number
0300	Partner's share of Liabilities qualified nonrecourse financing	12	Number
0310	Partner's share of liabilities - other	12	Number
0370	Capital Account Beginning of Year	12	Number
0380	Capital Contributed during year	12	Number
0390	Partner's Share	12	Number
0420	Withdrawals & Distributions	12	Number
0430	Capital Account end of year	12	Number

You also have some additional fields for the 1065 K-1 below that you may enter:

0440	Ordinary Income (Loss) from Trade or Business	12	Number
0450	Net Income (Loss) from Rental Real Estate	12	Number
0460	Net Income or Loss from other Rental Activity	12	Number
0470	Portfolio Income Interest	12	Number
0480	Dividends	12	Number
0490	Royalties	12	Number
0500	Net Short-term Capital Gain (Loss)	12	Number
0510	Net Long-term Capital Gain (Loss): 28% Rate Gain (Loss)	12	Number
0515	Net Long-term Capital gain (Loss): Total for Year	12	Number
0520	Other Portfolio Income (Loss)	12	Number
0530	Guaranteed Payments to Partner	12	Number
0540	Net Section 1231 Gain (Loss)	12	Number
0550	Other Income (Loss)	12	Number
0560	Charitable Contributions	12	Number
0570	Section 179 Expense Deduction	12	Number
0580	Deductions Related to Portfolio Income	12	Number
0590	Other Deductions	12	Number
0600	Low Income Housing Credit Property Placed in Service Before 1990 (Form 8586)	12	Number
0610	Low income Housing credit Other Property Placed in Service Before 1990 (Form 8586)	12	Number
0620	Low Income Housing Credit Property Placed in Service After 1989 (Form 8586)	12	Number
0630	Low Income Housing - Property Placed in Service After 1989 (Form 8586)	12	Number
0640	Qualified REHAB Expenditures	12	Number
0650	Credit Related to Rental Real Estate Activities	12	Number
0660	Credit Related to Other Rental Activities	12	Number
0670	Other Credits	12	Number
0700	Interest Expense on Investments	12	Number
0710	Investment Income lines 4a-4f	12	Number
0720	Investment Expense line 10	12	Number
0730	Net Earnings (Loss) Self Employment	12	Number
0740	Gross Farming or Fishing Income	12	Number
0750	Gross Non-Farm Income	12	Number
0760	Depreciation Adjustment on Property Placed in Service After 1986	12	Number
0770	Adjusted Gain or Loss	12	Number
0780	Depletion	12	Number
0790	Gross Income (Oil Gas, Geothermal Properties)	12	Number
0800	Deductions Allocable to Oil, Gas, and Geothermal Properties	12	Number
0810	Other Adjustments	12	Number
0820	Name of Foreign Country or U.S. Possession	22	Name
0830	Total Gross Income Sourced at Partner Level	12	Number
0840	Passive	12	Number
0850	Other Listed Categories	12	Number
0860	General Limitations	12	Number
0870	Deductions Allocated and Apportioned at Partner Level: Interest Expenses	12	Number
0880	Deductions Allocated and Apportioned at Partner Level: Other	12	Number
0890	Passive	12	Number
0900	Other Listed Categories	12	Number
0910	General Limitations	12	Number
0940	Total Foreign Taxes	12	Number
0950	Other Foreign Tax Information	12	Number
0970	Section59(e)(2) Expenditures: Amount	12	Number
0980	Tax-Exempt Interest Income	12	Number
0990	Other Tax-Exempt Income	12	Number
1000	Nondeductible Expense	12	Number
1010	Distribution of Money (Cash & Marketable Securities)	12	Number
1020	Distribution of Property Other than Money	12	Number
1030	Recapture of Low-income Housing Credit: From Section 42(j)(5) Partnerships	12	Number
1040	Recapture of Low-income Housing Credit: Other than on Line 24a	12	Number

Here are line codes that are common to all 1099s, 1098s, 5398s and the W-2G:

0010	Recipient's Identification number	9	SSN or EIN
0020	Recipient's name 1	35	String
0030	Recipient's name 2	35	String
0040	Recipients Street address 1	35	String
0050	Recipients Street address 2	35	String
0070	Recipients state	2	String
0070Z	Recipients Zip Code	12	Number
0090	Account Number (Optional)	12	String
0190	Check if corrected	1	"X" or BLANK

Here are lines codes for the 1120S K-1:

Line Code	Identification	Length	Field Description
0030	Shareholder's Identifying Number (Shareholder's EIN or SSN)	9	Number or "APPLD FOR" or "FOREIGNUS"
0040	Shareholder's Name 1	35	String
0050	Shareholder's Name 2	35	String
0060	Shareholder's Address 1	35	String or "NONE"
0065	Shareholder's Address 2	35	String
0070	Shareholder's City	22	String
0080	Shareholder's State	2	State or leave blank for foreign address
0080Z	Shareholder's Zip Code	12	Zip code or leave blank for foreign address
0140	Shareholder's % of Profit Sharing	6	Float