K1 Aggregator Instance Settings | 'Year Sequence'

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Year Sequence is a required field in Instance Settings, however the only integration that requires this data is Onesource Trust Tax (OTT).

For all integrations except OTT, or if you do not use an integration, enter '0' in the field.

For OTT integrations, please review the following guidance:

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ONESOURCE TRUST TAX FIELD

DETAILS

NAVIGATION

The year sequence applies to split-year trusts.

A value of 0 indicates the period before the split occurred, and 1 indicates the period after the split occurred.

For trusts that are not split-year trusts, the year sequence is 0.

You can determine if a split-year event occurred on the Event History page in OTT. 

Also, if a split-year event occurred, the Split Tax Year into two filing periods link changes to Split Tax Year-Details in the Account collapsible section on the Account Information page.

1. Open the account where the split-year event occurred.

2. Select Event History from the Account Action drop-down list. The Event History page displays.

If a split-year event occurred, Split Return will show in the Type column in the Event History collapsible section.

Circular 230 Disclosure

To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this software (including any reports or downloads) is not intended or written to be used and cannot be used for the purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) supporting, promoting, marketing or recommending to another party any transaction or matter addressed herein. This software is for informational purposes only and should not be regarded as tax advice. Please consult your tax advisor or attorney for guidance on your individual tax situation.

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