It's a busy time of year, so this is going to be a quick one today. This note goes out to all the members signing in to the online tax printer, and finding that there are no k-1 forms after running the taxes, or that there are only forms for those who left the club during the year.

There are two possible reasons for no K-1s or K-1s only for withdrawn members:
1. There is no valuation on 12/31
2. There is no Allocation of Income and Expenses (Distribution of Earnings) for the tax year

1) If there is no valuation saved on 12/31, generate one for that date:
go to ACCOUNTING > SECURITIES > CREATE NEW VALUATION
Enter the date as 12/31 of last year.
Click CONTINUE
Make sure all of the stocks listed show a price, and click SUBMIT.

2) Run the Allocation:
Go to ACCOUNTING > UTILITIES > ALLOCATE INCOME AND EXPENSES
Choose last year from the drop-down menu, and click YES to continue
Fill in dividend and Unrecaptured section 150 gains (if appropriate) for any non-standard stock listed, then click OK to complete the allocation.
The allocation is now complete.


After the Allocation is generated and verified, go to TAXES > RUN > REGENERATE
Once this is done, all members who were active during the year will have K-1s available.

Until next time . . . .