K-1 Analyzer - Would like standardized Line 1-21 descriptions

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

Would like to ability to tag or select standard language on the Federal / State Taxable Income tab to help decrease variance among the dozens of k-1's that have similar language but are not a 1:1 match

Line 1:

• ORDINARY INCOME - PASSIVE

• ORDINARY INCOME - NON-PASSIVE

• IRC. SECTION 475(F) MARK TO MARKET ORDINARY INCOME (LOSS)

• OTHER ORDINARY INCOME (LOSS)

• OTHER DESCRIPTION 1

• OTHER DESCRIPTION 2

• OTHER DESCRIPTION 3

Line 11a:

• SECTION 988 CURRENCY GAIN/(LOSS)

• NET SWAP INCOME/(LOSS)

• OTHER INCOME/(LOSS)

• OTHER PORTFOLIO (DESCRIPTION 1)

• OTHER PORTFOLIO (DESCRIPTION 2)

• OTHER PORTFOLIO (DESCRIPTION 3)

Hedge Fund Line 11i Descriptions (FYI- we do not include foreign vs domestic breakouts for INT/DIV here as that is covered by K-3 aggregation/reporting):

• U.S. GOVERNMENT OBLIGATION INTEREST INCOME

• INTEREST INCOME

• QUALIFIED DIVIDEND INCOME

• NON-QUALIFIED DIVIDEND INCOME

• SECTION 1293 ORDINARY INCOME

• SECTION 1293 CAPITAL GAIN

• SECTION 988 CURRENCY GAIN/(LOSS)

• SECTION 475 MTM GAIN/(LOSS)

• NET SWAP INCOME/(LOSS)

• OTHER ORDINARY INCOME (LOSS)

• OTHER INCOME/(LOSS)

• OTHER TRADE BUSINESS EXPENSE

• OTHER TRADE BUSINESS INTEREST EXPENSE

• SECTION 1291 CURRENT YEAR EXCESS DISTRIBUTIONS

• SHORT TERM CAPITAL GAIN/(LOSS)

• LONG TERM CAPITAL GAIN(LOSS)

• SECTION 1296 ORDINARY INCOME/(LOSS)

• NEW ISSUE P&L (IPO) - SHORT TERM CAPITAL GAIN/(LOSS)

• NEW ISSUE P&L (IPO) - LONG TERM CAPITAL GAIN/(LOSS)

• NEW ISSUE P&L (IPO) - 475F

• LONG TERM CAPITAL GAIN DISTRIBUTIONS FROM REITS/RICS

• OTHER DESCRIPTION 1

• OTHER DESCRIPTION 2

• OTHER DESCRIPTION 3

• OTHER DESCRIPTION 4

Hedge Fund Line 13W Descriptions:

• DEDUCTIONS - PORTFOLIO 2% MISCELLANEOUS

• DEDUCTIBLE FOREIGN WITHHOLDING TAX

• BUSINESS INTEREST EXPENSE

• OTHER TRADE OR BUSINESS EXPENSE

• OTHER EXPENSE (DESCRIPTION 1)

• OTHER EXPENSE (DESCRIPTION 2)

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.

The reader helps aggregate info from the whitepapers, but there can be several versions of additional detail that are saying the same thing but aren't standardized

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.

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.

Ability to select a dropdown that picks standard language user matches to what was pulled from the reader