UltraTax CS Source Data Entry frequently asked questions

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This topic includes frequently asked questions (FAQs) relevant to UltraTax CS Source Data Entry. For answers to frequently asked questions for other UltraTax CS applications, see Accessing frequently asked questions (FAQs).

General information

Data exported from Source Data Entry is stored in UltraTax CS until you either enter a matching SSN, TIN, or EIN in an UltraTax CS return, or open an existing return with a matching SSN, TIN, or EIN. When a matching number is found, the Data Sharing Updates dialog opens, prompting you either to accept the data into your UltraTax CS client's return or postpone retrieving the shared data until a later time. For Forms W-2, W-2G, 1095-A, 1098-C, 1099-A, 1099-C, 1099-K, 1099-LTC, 1099-MISC, 1099-PATR, 1099-R, 1099-S, 1099-SA, 1099-Q, 1099-QA, 1042-S, SSA-1042S, RRB-1042S, SSA-1099, RRB-1099, RRB-1099-R, 2439, 5498-SA, and Schedule K-1, the Data Sharing Pending Updates dialog provides the option to import the data into a new unit. Potential data sharing match messages display in the UltraTax CS diagnostics for those clients whose taxpayer or spouse TIN match a recipient TIN in Source Data Entry.

Note: The Data Sharing Pending Updates dialog will not contain new unit information when the client is open in UltraTax/1040 Client Organizer.

We recommend using Source Data Entry to enter information directly from standard source documents such as Forms W-2, 1099-INT, Schedule K-1, and so on. Staff members who are unfamiliar with UltraTax CS or who don't have access to UltraTax CS client data can use the Source Data Entry utility to assist with data entry, which may expedite tax-preparation work at your firm.

Source documents that contain amounts in fields that are disabled in Source Data Entry should be entered directly into UltraTax CS. Also, source documents containing information that was imported into UltraTax CS from another source or shared between tax returns should also be entered directly into UltraTax CS. For more information, see the "How does data imported from other sources affect amounts entered via Source Data Entry?" FAQ below.

You can transfer data into a client's return in several ways. For example, you can proforma prior-year information, transfer asset data from Fixed Assets CS, import information from a web client organizer, retrieve general ledger data from an accounting application, or update shared amounts via the data sharing feature. Shared data comes from the UltraTax CS Source Data Entry utility, the UltraTax CS Bar Code Scan utility, other entities in UltraTax CS (such 1120, 1065, or 1041), and from Creative Solutions Accounting or Accounting CS (such as W-2, 1099-R, 1099-M, 1099-INT amounts).

UltraTax CS cannot determine if amounts entered via Source Data Entry duplicate data that was included in the return from another source. For example, if information from a Form 1099-MISC is entered in Source Data Entry, and those amounts are also included in gross receipts retrieved from a web organizer, the client's income will be overstated in the UltraTax CS return. Source documents that include data that was added to the return should not be entered in Source Data Entry.

  • Forms 1099-B, 1099-C, 1099-PATR, 1099-K, 1099-M, and 1099-S: You can assign data from these forms directly to the appropriate activity by using the Reporting form and Unit description fields on the Data Sharing Updates dialog. If the Form 1099-S is marked as the taxpayer's principal residence, UltraTax CS imports the form data into Screen Home in the Personal Sale folder.
  • Forms 1098, 1099-G: You can assign data from these forms directly to the appropriate activity and statement within the activity by using the Reporting form, Unit description and Statement fields on the Data Sharing Updates dialog. When assigning Form 1098 data to a home office, select the related activity in the Reporting form and Unit description drop-down lists. The Statement drop-down will list existing units of home office or the option to create a new unit, as well as the choice to assign the expenses to the Direct expense or Indirect expense category.

All source document information entered in Source Data Entry is available for review or correction. Open UltraTax CS Source Data Entry and choose File > Open form to open a list of source documents that are listed by Recipient SSN, Form, Name, Date entered, Status, and User ID. Use the options in the Focus group box to filter the list by exported forms, postponed forms, date entered, data source (entered manually or imported from FileCabinet CS or Workpapers CS Source Document Processing), and user ID. Highlight the desired form and click Open to review or change the information. Click Export to UltraTax CS to update the saved data with the changes. Click Postpone to save the changes and update the form status to Postponed. Click Discard to choose to either discard just the changes made or to delete the data for the form.

Form 1099-K, Merchant Card and Third Party Network Payments, is a reporting form instituted in 2011. Payment settlement entities use Form 1099-K to report merchant card payments and third party network payments. Amounts on Form 1099-K may include amounts that were previously reported on Form 1099-MISC, and may still be erroneously reported. Amounts on Form 1099-K may also include amounts that are included in income on Screens C, Rent, F, 4835, Other Income, or elsewhere in UltraTax/1040.

You can assign data from Form 1099-K to the appropriate activity by using the Reporting form and Unit description fields on the Data Sharing Updates dialog. Form 1099-K payments are transferred to the Other income fields on Screen Income and Screen C, the Farm income field on Screen F, the Rent and royalties field on Screen Rent, or the Income from production field on Screen 4835.

Proforma information

If the client's UltraTax CS return contained source documents including Forms W-2, W-2G, 1099-SA, 1099-R, 5498-SA, or RRB-1099-R with the same EIN in the previous year, the source document information will import directly to Screens W2, W2G, 1099R, 1099-SA or 5498-SA as soon as the client is opened and the data is accepted via the Data Sharing Updates dialog. If there was not a Form W-2, W-2G, 1099-SA, 1099-R, 5498-SA, or RRB-1099-R with the same EIN in a previous year, the source document information will display in the Data Sharing Pending Updates dialog with the option to add a new unit of Screen W2, W2G, 1099R, 1099SA, or 5498SA. Information from Forms W-2, W-2G, 1099-SA, 1099-R, 5498-SA, or RRB-1099-R can also be imported via diagnostics for potential data sharing matches on the FYI tab of the Diagnostics window in UltraTax CS. Right-click the diagnostic message and choose Import data to a new unit to import the data into the current client, or choose Acknowledge to dismiss the diagnostic message.

Information that is imported directly into a statement will open the Statement dialog automatically, with the imported data listed in italics. Click OK to accept the data as shown. Prior-year payer names are listed through proforma. Imported data that matches the prior-year description will update the item listed. New descriptions will be appended at the bottom of the statement. If a new description should update a prior-year description but doesn't (for example, a slight difference in the name) the new item can be deleted, which will transfer it to the Data Share dialog at the bottom of the statement. From there, the item can be discarded completely or used to update an item already listed. Click Update item... and select the item number of the payer the data relates to, then click Accept to add the information to a payer who is already listed.

Data from Screens 1099M and 1099P will proforma into the current year. You can use the Reporting form and the Unit description fields on the Data Sharing Updates dialog to assign Form 1099-M or Form 1099-PATR entered in Source Data Entry to the appropriate unit and activity. If the client's return contains a proforma'd Screen 1099M or 1099P with the same EIN, the source document information is displayed in the Data Sharing Pending Updates dialog, and the corresponding activity and unit are selected by default. If the client's return does not contain a 1099M or 1099P with the same EIN, select the appropriate unit and activity to assign the income.

FileCabinet CS and Workpapers CS Source Document Processing information

Source Data Entry is used to review and correct source documents that were scanned or added from PDF files, sent via FileCabinet CS or Workpapers CS Source Document Processing to our secure data centers for data extraction, and retrieved into FileCabinet CS or Workpapers CS. The UltraTax CS Source Data Entry utility is used to view the extracted data for comparison with the original source document in FileCabinet CS or Workpapers CS for accuracy. The designated staff member electronically accepts the OCR data in the UltraTax CS Source Data Entry utility by clicking Export to UltraTax CS, where the data remains until it is ready to be imported into the UltraTax CS client file. If the data is not ready to be reviewed, click the Postpone button to save the OCR data in FileCabinet CS or Workpapers CS. Postponed forms with OCR data can be reviewed again by using the Source Data Entry button in FileCabinet CS or, in Workpapers CS, by using the Source Data Entry context menu in the Engagement Binders Tree on the Workpapers Dashboard. If you are licensed for FileCabinet CS or Workpapers CS and would like more information, choose Help > Help & How-To Center and search on "FileCabinet CS Source Document Processing" or "Workpapers CS Source Document Processing."

Note: Previously entered source documents can be accessed to view or edit. Select File > Open form to see a list of documents listed by Recipient TIN, Form, Name, Date Entered, Status, and User ID. Use the Focus group box to filter the list by exported or postponed documents, the date documents were entered on, and the ID of the user who entered the data. Select a document and click Open to see the facsimile of the form. Click Export to UltraTax CS to save any changes and have the document available for data sharing. Click Postpone to save any changes but not have the document available for data sharing. Click Discard to choose either to discard changes made to the document during this session or to delete all data for the document.

The following form facsimiles are available for data extraction: W-2, W-2C, W-2G, 1042-S, 1095-A, 1095-C, 1097-BTC, 1098, 1098-C, 1098-E, 1098-MA, 1098-T, 1099-A, 1099-B, 1099-C, 1099-DIV, 1099-G, 1099-INT, 1099-K, 1099-LTC, 1099-MISC, 1099-OID, 1099-Q, 1099-QA, 1099-R, 1099-PATR, 1099-SA, 1099-S, RRB-1099, RRB-1099-R, SSA-1099, 2439, 5498-SA, Brokerage Statements, and Schedule K-1.

No. Documents must be scanned into FileCabinet CS or Workpapers CS and transmitted to CS Source Document Processing where the data is extracted via OCR (Optical Character Recognition). To display the extracted data, Source Data Entry must be opened from the icon on the FileCabinet CS toolbar or, if you're using Workpapers CS, from the Source Data Entry context menu in the Engagement Binders Tree on the Workpapers Dashboard.

No. Documents must be added in FileCabinet CS or Workpapers CS and transmitted to Source Document Processing, where the data is extracted via Optical Character Recognition. To display the extracted data, Source Data Entry must be opened from the icon on the FileCabinet CS toolbar or from the Source Data Entry context menu in the Engagement Binders Tree in the Workpapers Dashboard in Workpapers CS.

Source Data Entry text is color-coded to provide you with more information about the data you are seeing. Data entered directly into UltraTax Source Data Entry by typing in the facsimile forms is displayed as black text. Data that is shared to fields in Source Data Entry through the UltraTax CS Data Sharing feature is displayed as blue text. Data that is imported into fields in Source Data Entry from FileCabinet CS or Workpapers CS Source Document Processing is displayed as orange text.

Detailed information on Form 1099-B brokerage statements sometimes reports both original cost basis and an average or adjusted cost basis.

  • If both original and average cost basis are reported on the source document and one of them is zero, Source Data Entry will use the non-zero cost basis.
  • If both the original and average cost basis are values other than zero, Source Data Entry will use the average cost basis.
  • If the cost basis used by Source Data Entry is not the appropriate basis to be reported on Schedule D (for example, the brokerage statement sales price is reported minus commissions while the cost basis used by Source Data Entry includes commissions) you can modify the cost basis in the Cost/Basis field.

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