If you are a subscriber to Bloomberg/BNA Software’s Estate & Gift Tax 706 Preparer, the EstateVal/BNA 706 interface can eliminate manual entry of data between the packages.
Using he EstateVal/BNA 706 interface is a short, two-step process: the creation and export of securities data from EstateVal, and importation of that file into the Bloomberg/BNA Estate & Gift Tax 706 Preparer.
Export
In EstateVal, select Tools → Options… → Export, and set Type to “BNA 706” and Path to the folder where you would like the export file created.
Next, enter the securities into EstateVal as you normally would, and run an evaluation.
Finally, select File → Export → From EstateVal → [Report Type]…, enter the filename for the exported file, and click Export. The data will be written to the file, with a .PRN extension. If you are also exporting an Alternate Date valuation, make sure to give it a different name that what you export the Date of Death data as.
Import
Now that the data has been exported from EstateVal, it can be imported into the BNA Estate & Gift Tax 706 Preparer.
Open your estate in the BNA Estate & Gift Tax 706 Preparer. Select Utilities → Securities Valuation Data Import. In the window that appears, click Next and then select the file that has the Date of Death data exported from EstateVal—a summary will display. Click Next again, and you will be asked if you also want to import Alternate Date data. If not, click No and the import is done. If so, click Yes, and you will now select the file from EstateVal that has the Alternate Date data and then click Next again.
Now, you’ll be show a list of schedules that you can import the data into. Select one and click Next, and a list of the securities will display. You can now select the individual items to import. Clicking Next one last time will import the data into Estate & Gift Tax 706 Preparer.
For BNA 706 software support, please call (800) 424-2938.