Excel Export / Import utility guidelines for partner information

Alerts and notices

Consider the following guidelines when you modify the Microsoft Excel workbook data you want to import into UltraTax/1065.

  • Always start by exporting partner information to Excel. UltraTax/1065 assumes that the initial Excel workbook template was generated via the process of exporting the partner information from UltraTax/1065. Though highly recommended, you do not need to enter all of the data into the Partner Information, Allocations, and Changes of Ownership windows (in UltraTax/1065 Partner Data Entry) before you export the spreadsheet into Excel.
  • Always save the Excel workbook before you import the data back into UltraTax/1065 to ensure that UltraTax CS imports all changes.
  • Subsequently created export / import spreadsheets always overwrite any previously created spreadsheets by the same name.
  • The Excel Export / Import utility does not import or export information from the Partner Information window state tabs or the Transfers of Capital window in Partner Data Entry.
  • You can export partner demographic data and the profit, loss, and ownership of capital percentages from one UltraTax/1065 client to an Excel workbook and subsequently import the data into a different UltraTax/1065 client.
  • You cannot transfer Excel spreadsheet columns that contain special allocation data among different UltraTax/1065 clients.
  • For the purpose of importing data into UltraTax/1065 from Excel, UltraTax/1065 assumes that you have not modified the order of the worksheets in the Excel workbook. The worksheets are imported into UltraTax/1065 in the order in which they were initially exported to Excel as follows:
    1. 1065 Spreadsheet
    2. Profit Transfers
    3. Loss Transfers
    4. Capital Transfers
  • You can insert or delete rows in the workbook. You must, however, maintain consistency within the workbook. Therefore, you must insert or delete rows in all four worksheets in the identical location.
  • You cannot change row height and/or column width.
  • You cannot insert or delete columns in the worksheet entitled 1065 Spreadsheet.
  • You cannot change the behavior of or repurpose columns in the worksheet entitled 1065 Spreadsheet.
  • You can insert a maximum of 254 columns in the Profit Transfers, Loss Transfers, and Capital Transfers worksheets.
  • You must enter all percentages in the xxx.xxxxxx format. For example, if a partner was allocated 28.5685 percent, you would enter the percentage as 28.568500.
  • You must enter units of ownership in the xxxxxxxxxx.xxx format.
  • UltraTax/1065 accounts for transfer dates and percentages in the Profit Transfers, Loss Transfers, and Capital Transfers worksheets, with the following restrictions.
    • You should enter transfer dates sequentially.
    • You should enter dates and percentages for the transfers in the same column in the Profit Transfers, Loss Transfers, and Capital Transfers worksheets.
    • Enter End of Year as the date for the last change of ownership to enter a change as of the last minute of the last day of the client’s tax year end. UltraTax CS will not calculate a prorated percentage, but will display the end of year percentages on the return. If you enter the date of the last day of the client’s tax year end, UltraTax CS will calculate a prorated percentage using the new ownership percentage for one full day.
  • The table summarizes valid entries for items in the worksheet titled 1065 Spreadsheet.
Column heading Entry
Ptr Num

If you use custom partner numbers, enter any alphanumeric value up to five characters. Each partner must have a unique partner number. If you do not use custom partner numbers, UltraTax CS will ignore entries in this column.

Note: To use custom partner numbers, choose Setup > Custom Partner Numbers in the Partner Information window in Partner Data Entry.

SSN/EIN

xxx-xx-xxxx = Social Security Number

xx-xxxxxxx = Employer Identification Number

A = Applied For

D = Died

F = ForeignUS

Note: If a nine-digit number is entered without hyphens and the entity is Individual, Disregarded Entity, or Estate, the number will be formatted as a Social Security number. Otherwise, the number will be formatted as an Employer Identification Number upon import to UltraTax/1065.

State Enter only if the partner has a U.S. address.
Zip Enter only if the partner has a U.S. address.
Resident State If the partner has a U.S. address, enter the resident state at year-end. If the partner has a foreign address, enter a period (.).
Province or state Enter only if the partner has a foreign address.
Foreign Country Code

See Publication 4163 for a list of acceptable foreign country codes.

Notes

  • Enter only if the partner has a foreign address.
  • This field is required if the partnership return is being electronically filed.
Country

Enter only if the partner has a foreign address.

Note: UltraTax CS ignores information in this field if the partnership return is being electronically filed.

Postal code Enter only if the partner has a foreign address.
Entity

I = Individual

C = Corporation

S = S Corporation

L = Disregarded Entity

P = Partnership

T = Trust

G = Grantor Trust (Subject to SE)

E = Estate

O = Exempt Organization

R = IRA

F = Foreign Government

Nominee X
Partnership Rep X

Note: Select only one partner as the partnership representative.

Rep Phone xxx-xxx-xxxx

Note: Enter only if the partner has been selected as the partnership representative.

Des Individ SSN xxx-xxx-xxxx

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Des Individ Phone xxx-xxx-xxxx

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Des Individ Last Name

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Des Individ First

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Des Individ Address

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Des Individ City

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Des Individ State

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Des Individ Zip

Note: Enter only if the partner has been selected as the partnership representative and the partner is not an individual.

Type

1 = General Partner

2 = Limited Partner

3 = LLC Member (No SE income)

4 = LLC Member (SE Income)

5 = LLC Member (SE on Services)

LLC Member Manager X
Active X
Final K1 X
Foreign X
Rounding Ptr

X

Note: Select only one partner as the rounding partner.

TMP Rep Phone Enter only if partner has been selected as the tax matters partner.
1040 Client X
Print partner's letter in Spanish X
Indirect pct for max profit, loss, or capital

xxx.xxxxxx

Note: Enter the indirect percent to be added to the greater of the direct profit, loss, or ownership of capital percentage for Schedule B-1.

Country code (if not US)

See Publication 4163 for a list of acceptable foreign country codes.

Note: Enter only if partner owns, directly or indirectly, 50 percent or more in the partnership for Schedule B-1.

Country (if not US)

Enter only if partner owns, directly or indirectly, 50 percent or more in the partnership for Schedule B-1.

Note: UltraTax CS ignores information in this field if the partnership return is being electronically filed.

Report disregarded entity as a corporation

X

Note: Select only if the partner is a disregarded entity and should be treated as a corporation on Schedule B-1.

Report grantor trust as an individual

X

Note: Select only if the partner is a grantor trust and should be treated as an individual on Schedule B-1.

Reportable Entity Partner

X

Notes

  • Select only two partners as the reportable entity partners for Schedule M-3.
  • This field is applicable only to partners with entity type Partnership, Corporation, or S Corporation.
Max Deemed Ownership Percent

xxx.xxxxxx

Notes

  • Enter only for the two partners marked as the reportable entity partners for Schedule M-3.
  • This field is applicable only to partners with entity type Partnership, Corporation, or S Corporation.
8805 Frgn Country Enter only if the partner is a foreign partner. See the Form 8805 instructions for a list of acceptable foreign country codes.
8805 Account Num Enter only if the partner is a foreign partner.
8805 Tax Exempt

X

Note: Select only if the partner is a foreign partner.

8805 De Minimis Partner Certificate

X

Note: Select only if the partner is a foreign partner.

Section 752 information not provided X
Suppress basis worksheet

X

Note: Select to suppress the printing of the partner basis worksheet for a specific partner. To suppress the calculation of the partner basis worksheets for all partners, use the Suppress calculation of partner basis worksheets field on Screen Basis in the Partner Info, Basis folder.

8938 specified individual X

Note: If you do not plan to import the Excel file into UltraTax/1065, you can modify the file in accordance with Microsoft's Excel guidelines.

Related topic: Excel Export / Import Utility for partner information overview