Blog
2023 Tax Year Updates for K1x Alternative Investment Tax Transformation Software
BY Scott Turner
January 12
In a hurry? Skip below to see what’s new for 2023 Tax Year
To help you avoid tax deadline drama, K1x is releasing our new tax year updates earlier than ever. Building on our industry-leading capabilities, we are also introducing key updates to our forms and our integrations for K-1 Analyzer (automated aggregation & reporting of structured and unstructured K-1 data), K-1 Navigator (digital K-1 production), and C-TRAC (streamlined 990 reporting and filing).
Whether you are an existing customer ready to modernize even more of your tax compliance, or you are just learning about K1x, don’t miss out on your best chance to deploy the leading tax transformation software for alternative investments. Act now before those deadlines hit.
We outline existing and new K1x capabilities for the 2023 tax year below.
What hasn’t changed for 2023 Tax Year for Alternative Investments tax
K1x is the ONLY software solution that processes K-1s, K-3s, and 990s for Federal and ALL 42 states. Click here for learn more about the K1x platform. Here is a breakdown by product.
K-1 Analyzer
1. K-1 Analyzer is still the ONLY software solution that reads all 1200 fields of the K-1 including all K-3 fields.
2. K-1 Analyzer is the ONLY software solution that uses AI to process K-1 and K-3 data in 11.38 seconds per K-1
3. K-1 Analyzer integrates with your favorite tax software including
- Wolters Kluwer: CCH Axcess Tax
- Thomson Reuters: ONESOURCE Income Tax, ONESOURCE Trust Tax, GoSystem Tax RS platforms
- K1x: K-1 Navigator and C-TRAC
K-1 Navigator
1. K-1 Navigator is still the ONLY software solution that produces a Digital K-1
2. K-1 Navigator integrates with your favorite tax software including
- Thomson Reuters GoSystem
- Wolters Kluwer CCH Axcess
- K1x: K-1 Analyzer
C-TRAC
1. C-TRAC is still THE industry standard software for tax exempt filing
2. C-TRAC integrates with your favorite tax software including K-1 Analyzer
New for 2023 Tax Year!
Improvements in alternative investments tax transformation software.
In addition to the updated forms and integrations outlined below, K1x expect more improvements for K-1 Analyzer, K-1 Navigator, and C-TRAC in 2024.
K-1 Analyzer improvements
for 2023 tax year
1. Updated to read 2023 tax forms
2. Foreign Forms preparation updated to 2023
3. Updated integrations
4. Improved white paper extractions and user experience!
K-1 Navigator improvements
for 2023 tax year
1. 2023 tax form updates
2. New feature-tiering! This feature allows you to tier data between entities.
3. Updated integrations
C-TRAC improvements
for 2023 tax year
1. 2023 tax form updates
2. New features!
- New bulk print option. Now you can print all your 990s at the click of a button.
- More filing instruction options to give your clients clear instructions.
3. Updated integrations