Pooled Income Fund Tax Forms
Pooled income fund tax forms are available only if you have purchased a license for the Pooled Fund Administration module.
GiftWrap can produce four different tax forms for pooled income fund participants:
All pooled income fund participants must receive a Federal Schedule K-1 for the fund. In addition, California residents who participate in a California pooled income fund must receive a California Schedule K-1, Connecticut residents who participate in a Connecticut pooled income fund must receive a Connecticut Schedule K-1, and Massachusetts residents who participate in a Massachusetts pooled income fund must receive a Massachusetts 2G.
Pooled income fund tax form calculations explained
Production of pooled income fund tax forms is a three step process.
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Set up data for tax forms.
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Create a file of pooled income fund tax forms.
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Use Adobe Acrobat Standard to print the tax formats.
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Set up data for tax forms
Pooled income fund tax form information is driven off of data entered in the Fund Income Data tab, as well as the payments made to each participant during the selected tax year.
Prior to producing Federal Schedule K-1s, California Schedule K-1s, Connecticut Schedule K-1s, or Massachusetts 2Gs for a specific tax year, you must enter fund income data for that year for each fund that you intend to include in the report. 
How?
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Produce a file of pooled income fund tax forms
1. Click PIFs > Tax Reporting in the Menu Bar.
2. Choose Tax Form in the Report Type area, and then select the type of tax form you wish to produce.
3. Enter the remaining selection and sorting criteria to produce the report you desire. There is help available on each field.
4. Click OK to save the tax forms in a file.
Choose the folder in which to save the tax forms file and enter the name of the Acrobat FDF file in which to save the tax forms, then click OK.
3. Print pooled income fund tax forms
1. Launch Adobe Acrobat Standard (Acrobat Reader will not work!).
2. Choose File - Open.
3. Browse to the FDF file you created in step (2) above and open it.
4. Choose File - Print to print the forms.
Alternatively, you can save the forms in a PDF file for later printing. By saving the file in PDF format, you or anyone else can print the forms with Acrobat Reader. You could e-mail the PDF file to someone else to print, for example.
To save the forms in a PDF file, choose File - Save As, browse to the folder in which you wish save the forms file, enter a file name, choose PDF as your file format, then save the file.
Notes:
· You can produce a cover letter for advisors to enclose with copies of participant tax forms. In this instance, there are several strategies for collating the cover letters with the appropriate tax forms. How?
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If you see an error log, fix the errors it identifies, then run the tax forms again.
To print the error log, click Print, then click OK in the standard Windows Print dialog box. Alternatively, you may save the log in a file that you can print or review later. When done, click Cancel.