Managing Entities

An entity refers to a discrete taxable unit, such as a single rental property, farm, or business with its own income and expenses. Usually, entity income and expenses are entered in a series or group of worksheets that are added to the main tax return. A tax return can include multiple, separate entities of the same type.

ClosedAdding Entities

Entities can be added to worksheets that can have multiple occurrences, such as the Rent and Royalty worksheet, Farm worksheet, or a Passthrough worksheet.

To add entities, do the following:

  1. Open the worksheet type for the new entity.
  2. The Entities pane displays below the Worksheets Tree on the navigation panel. The worksheet name displays in the pane's title bar. If entities already exist in the worksheet, they are listed in the pane alphabetically.

    3. Note: The Entities pane displays only when the open worksheet can have multiple occurrences.

  3. If no entities exist, enter detail in the worksheet for the first entity. After entering a name or description and pressing Tab or Enter, the entity description displays in the Entities pane.
  4. To add more entities, in the Entities pane of the navigation panel, click Add to create another occurrence of the active worksheet with the same sections and fields.
  5. Enter a name or description for the new entity and press Tab or Enter. The new entity name displays in the Entities pane on the navigation panel.
  6. Enter any remaining detail for each entity, and then calculate and save the return.

Note: When selecting to open a worksheet with more than one entity, the Select Entity window displays. Click Create Entity on the window to add an entity.

ClosedOpening Worksheets and Government Forms With Multiple Entities

  • Worksheets Forms List or Tree. When you select to open a worksheet with more than one entity from either the Worksheets Forms List or Tree, the Select Entity window displays. Select the entity to open from the list and click OK. Existing entities for the open worksheet are listed alphabetically in the Entities pane below the Worksheets Tree on the navigation panel.
  • To open a different entity for the open worksheet, select from the list on the Entities pane. You can also search using to locate and open a specific entity. Enter complete or partial text above the list of entities. Click to open an exact match or find the next partial match in the list.
  • Government Form. When the number of entities exceeds what can be listed in a government form, multiple occurring sheets of the form exist. For example, in the case of five rental properties, the Schedule E, Page 2, can list up to four properties. The fifth is listed on a second sheet. After selecting to open a government form with multiple sheets, the Select Entity window displays. Select the entity to open from the list and click OK. Click the left or right arrow next to Sheet in the Navigation group on the Home ribbon to move between the previous or next sheet.

ClosedRenaming Entities

To rename or enter a new description for an entity, do the following:

  1. Open the worksheet with the entity you want to rename.
  2. Enter a new name or description in Line 1 of the worksheet. When you exit the field, the entity name is updated in the Entities pane on the navigation panel.
  3. Calculate and save the return.

ClosedDeleting Entities

To delete an entity, do the following: 

  1. Open the entity worksheet or government form sheet you want to delete.
  2. Do one of the following:
    • From a worksheet, select Delete > Worksheet in the Edit group on the Home tab or click on the Entities pane on the navigation panel.
    • From a government form, select Delete > Worksheet in the Edit group on the Home tab or right-click the entity name or description in the form and select Delete > Delete Entity.
  3. Click Delete to confirm the deletion.

For information about reassigning assets from one entity to another, see Changing Entity Attachments.