The firm can choose to distribute the taxpayer's K-1's on their behalf. The taxpayer will receive an email notification if the K-1 recipient declines to consent to receive the document(s) electronically.
In order to send the client's K-1's the settings must be enabled before going into the Client View in order to deliver them. This article will guide the firm in enabling and using this feature.
Enable K-1 Distribution for Users
Important
This option must be enabled before a return is delivered for it to apply. Only Administrators have access to the Settings section.
The firm can only access the K-1s after the return has been signed.
- In the Navigation Panel, Click Settings.
- Click General.
- Check Allow any internal user to Distribute K-1s.
- Click Apply.
The K-1 distribution process is the same for the Firm as it is for the taxpayer. The only difference is how the return is accessed.
- Navigate to Delivered Returns.
- Click the More (...) options button in the Action column for the return.
- Click Client View.
- Click on the Name and Email of the Client.
- Click the Click Here to Get Started tab.
- On the Summary Page, Click Distribute K-1's.
The User will Click the Send Electronically button. The Distribute K-1 Documents Electronically window will open.
- Click the Edit Partner Details button in the Action column.
- Enter the Shareholder's email address in the Update K-1 Partner Details screen.
- Shareholders need an email address before a K-1 package can be delivered.
- If a Mobile number is added, the Access Codes are sent by text.
- Click Save.
- Select what K-1 packages need to be distributed. Users can select individual K-1s or all K-1s on a page.
- By "Selecting All", the K-1s on the current page and any additional pages will be selected.
- Click the Email Documents button.
- Once the K-1's have been distributed, Users can view the Status, Update K-1 Partner Details, Download K-1's and Resend the packages to the Shareholders.
The User will click on the Mail Hard Copies button to display the Distribute K-1 Documents by Mail window. There are a few options on how to proceed:
- Download Individual K-1s
- Download multiple k-1 packages
Downloading Individual K-1's
- Locate the K-1 to be downloaded.
- Click the Download icon in the Action column.
- The K-1 will download as a ZIP file to your browser's default location.
- Click Done or Continue.
- Done will display if the return has been e-signed and re-accessed to distribute K-1 packages.
- Continue will display if the return is being accessed the first time and will move to the payments section.
Downloading Multiple K-1 Packages
- Check the box next to the K-1 package(s) to be downloaded.
- Click the Download Documents and select how you would like to download the k-1s.
- Download All K-1s- This option will download all K-1s for each shareholder.
- Download Selected K-1s- Must have at least 1 shareholder selected to use this option.
- The K-1(s) will download as a ZIP file to your browser's default location.
Alternatively, a prompt may appear letting you know that the download will take some time and will be available in the My Downloads section.
- Click My Downloads icon in far right corner.
- Click the Download button on the My Downloads screen.
- This will download a ZIP file to the browser's default location.
- Click the X next to each K-1 that does not need to be downloaded or click Clear All.
- Click Done or Continue.
- Done will display if the return has been e-signed and re-accessed to distribute K-1 packages.
- Continue will display if the return is being accessed the first time and will move to the payments section.
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