K1x Release - 1/31/2024

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Hello! Please review the following changes that have been introduced as part of this K1x release. 

New Features

K-1 Analyzer

• Tax year updates have been completed for the K-3 Summary found on the Review Investments page.

Resolved Issues

K-1 Navigator

• Allocation codes are now retained when event values are changed on the Manage Capital Accounts page.
• Permissions issues preventing users from manually adding activities and associating K-1 package documents to investors have been resolved.
• Event values can now be compared across jurisdictions on the Manage Capital Accounts page.
• Importing investor information no longer automatically checks address line two.
• Allocation codes can now be edited via import.
• K-1 package sections can be rearranged without producing an error.
• State abbreviations now import as part of investor and entity information.
• The sample data in the entity information import template has been updated to remove the timestamp from the year start and year end dates to match the format accepted when importing.

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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