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 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.
Proforma information
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.