Working with estimates in K-1 Analyzer

Describe your idea. The more information you provide, the clearer picture of your idea we will have.

Better estimate vs actual tracking and reporting.

How will this idea help you and potentially others? Understanding how things are done today, where the pain is, and how the idea is beneficial puts us in your shoes.

We typically receive two rounds of each K-1 we receive each year – one estimated K-1 that we issue our own estimates with, and one final much later.

If I put something as an “estimate” (see the 226k entered below) – it doesn’t include the values in our taxable income reporting (attached). I HAVE to enter the number in that first Federal K-1 line to get it to show in our reports. However, when I put it in the Federal K-1 column, it then gets overridden when we receive the final K-1, and I can’t do any comparisons between the final and estimate.

Who will benefit from this idea? Whether it's specific roles of users, users of a specific product, or certain departments/markets, this helps us know who to talk to when we need more information.

All users who work with estimates prior to receiving current year K-1s

How do you envision this idea being implemented at K1x? You're the expert and understanding how you see this working helps kickstart the idea.

when you upload an actual K-1 over an estimated K-1, the numbers for the estimate would move to the estimate column and the actual would then be in the actual column. Currently, when I am uploading an actual K-1, it's just uploading over the numbers I have entered as an estimate and I lose what was in there at the estimate. There is also no no good report option to view actual vs estimate data together.