Transferring shared data into statement dialogs

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You can use the data sharing feature to share certain statement dialog data. However, you need to complete some additional steps in order to transfer the data. To transfer shared statement dialog data, use the following procedure.

The preparer should diligently review all data that is shared among clients.

  1. Choose File > Open and open the client whose data you want to update with newer data.
  2. If necessary, choose Utilities > Data Sharing > Updates to open the Data Sharing - Pending Updates dialog. (By default, this dialog appears automatically when you open a client who has an update to shared data pending. However, you may change this setting.) Click the Add Unit or Review button to open the Data Sharing - Update dialog.
  3. Review the list of pending updates to shared data.
  4. Click the Accept and import new source data option to accept the new data for the items listed in the pane above.
  5. If the accepted data contains information that belongs in a statement, UltraTax CS automatically opens that Statement dialog with the pending information, which is displayed in blue italics to distinguish from any existing data.

    Note: If the text of the item being accepted matches the existing text exactly and there is an existing amount, the item will not be updated automatically. Click the Accept button at the bottom of the dialog to accept the pending data.

  6. To accept the pending information, click Done in the Statement dialog. To postpone the pending data, click the red X button. UltraTax CS prompts you to confirm your selection before closing the Statement dialog.

    Note: If you click the red X button to postpone the pending data, you can still manually accept the data on an item-by-item basis.

    To manually accept or discard pending information in a statement dialog:

    1. Navigate to the appropriate input screen containing the appropriate statement. Statement dialogs with shared amounts pending are indicated by a fuchsia dot on the Statement button. Statement dialog button Click this button to open the statement dialog.
    2. The new description and amount values appear at the bottom of the Statement dialog in the Data Sharing section. Click the Accept button alongside each item to update the data with the new information. Click OK after you have updated the necessary values.

Shared State if different (SID) amounts will not include any interest and dividend income amounts due to data entry requirements in the federal interest and dividend statement dialogs for correct state income allocation.

Note: For states that include interest and dividend income in the Net/Ordinary income reported on the state K-1, the amount shared for Ordinary Income will be net of interest and dividends and will not match the K-1.

Related topics

Data sharing overview

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