TAXDOCS
The folder where all files coming from the client appear
What is "Shared Documents"?
The various tabs that we use to mimic the actual tax forms and where information will go
What are visualization tabs?
A special allocation that follows dollar amounts rather than percentages
What is a proportional allocation?
Investors who are sensitive to ECI
What are Foreign partners?
The area where we track an entity's k-1s, returns and misc forms
What is Deliverables?
The file path where you can find the PwC workpaper starting point
What is All Funds General > Templates and Methodologies
The tabs that come directly from TRACK
What are batch reports?
A vessel in TRACK used to allocate income/losses "up the chain." This can be a partner in a fund, but not classified as an "investor" in TRACK.
What is a flow-through entity?
Investors who are sensitive to UBTI
What are tax-exempt partners?
The selection preparers must update as the entity gets passed "up the chain"
What is Working Status?
Feature of TaxDocs that copies files in various places to your fund folder where you need the support
What is linking?
The tab where we note any updates we made to the client tabs
What is the summary of changes tab?
Data entry locations with multiple required steps, used to present income/losses from the workpaper onto the K-1 and K-3.
What are allocable items?
This type of FTE, typically assumes liability for the partnership and is responsible for the management of the entity.
What is a general partner?
The first step preparers need to take to add team members to an entity
What is Add Assignees?
Feature of TaxDocs that allows multiple users edit a file at once. Must be used wisely to control versions
What is Collaboration mode?
The tab where we take book income and reconcile to taxable income on a more detailed level
What is the M3 tab?
You would use this tool when you have income/losses flowing from a lower level that you need to tag to an allocation code at your level.
What is advanced tiering?
This type of FTE has been historically used in TA structures to make a portfolio investment in lieu of the main fund.
What is an AIV?
The step preparers need to take to dictate the timing of an entity
What is add Planned Due Date?
The naming convention for Financial Statements
What is FS1?
The tab where the client presents their balance sheet and tax capital reconciliation
What is the T20 tab?
This specific disclosure item requires three steps in an allocable item - investment tag, "SALT" tag, and a footnote section checkbox with the amount filled out.
What is passive activity?
This is a common allocation code that is based on how much a limited partner invests into the fund.
What is commitment?
The place where we track misc forms and processes
What is Tasks?