17552: 2022.02.04 - Drake21 Updates

Colorado Update 7

• Corporation Package:
  
  • Form DR 0205, Tax Year Ending Computation of Penalty Due Based on Underpayment of Colorado Corporate Estimated Tax, has been updated to the latest version.
    
  • Line 1, "...Current year tax liability including any credit recapture after reduction for all credits," of Form DR 0205, Tax Year Ending Computation of Penalty Due Based on Underpayment of Colorado Corporate Estimated Tax, is now calculated as intended when the amount on line 33, "Net tax due," of Form DR 0112, Colorado C Corporation Income Tax Return, is zero ("0").
    
• Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
  
  • An EF Message requiring the taxpayer to attach a signed copy of obsolete Form DR 0074 has been removed from the program.
    
• Individual Package:
  
  • The required PDF for Taxes Paid to Another State is now included in the CO transmission file automatically when the credit for Taxes Paid to Other State is present in the return.
    

General Program Update 5

• Outlook Calendar appointments can be imported again after being deleted previously in Scheduler.
  

District of Columbia Update 6

• Individual Package:
  
  • Banking information from federal screen PMT will now be printed on Schedule L, Lower Income Long-Term Homeowner Credit, as expected. DC screen 2 has been updated to conform to the current Form D-40.
    
• Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
  
  • General programming changes were made for the forms approval process for new Form D-8609, District of Columbia Low-Income Housing Tax Credit Allocation and Certification. The form has been approved.
    
  • An update prevents the parse error, "Overpayment."
    

1041 Program Update 10

• Form 3468, Computation of Investment Credit, is now available for filing. The watermark has been removed.
  

1040 Program Update 16

• An update prevents reject "DRKPARSE" on element "SSN” for Schedule A (Form 8995-A).
  
• Calculation of line 44, "Tuition and textbook credit," for dependents in kindergarten through 12th grade, has been updated for Form IA 1040, Iowa Individual Income Tax Return. The expenses entered will now be multiplied by 25% of the first $2,000 paid for each dependent for tuition and textbooks.
  
• For updated information, see the field help (press F1) in the "State codes" field of federal screen 2.
• Allocating 100% of the amount on Form 1095-A, Health Insurance Marketplace Statement, to another taxpayer no longer generates EF Message 4957. "400%" will be printed on line 5, "Household income as a percentage of federal poverty line," of Form 8962 if the amount on line 3, "Household income," divided by the amount on line 4, "Federal poverty line," equals exactly $400.
  
• Check boxes have been added to screen HC to generate the necessary Affordable Care Act explanation statement for taxpayers whose returns were rejected with business rule F8962-070 and who aren't required to file Form 8962.
  
• An update prevents reject "DRKPARSE" on element "referenceDocumentId" when line 8z, "Other income," of federal Schedule 1 equals zero ("0").
• An update prevents reject “SA-F1040-025-01” related to gambling winnings.
• Form 3468, Computation of Investment Credit, is now available for filing. The watermark has been removed.
• Form 8915-F has been updated to the most current version available from IRS. The watermark has been removed and the form can now be e-filed.

Indiana Update 6

• Individual Package:
  
  • EF Message 0108 now prevents IN reject S5-IT40-005-03 when amounts are entered on screen 99G for "Local withholding."
    
  • EF Message 0109 now prevents IN reject S7-IT40-015 when Schedule IN-40PA was not completed and IT-40, Schedule 7, line 5, was marked, or IT-40PNR, Schedule H, Section 2, line 4 was marked.
  • The filing dates are now updated in the letter section of Indiana Post Filing Coupon (IN PFC_V).
    

Kentucky Update 6

• S Corporation and Partnership Packages:
  
  • e-File has been activated for Kentucky Partnership and
    
• S Corporation packages.
  
  • EF Messages 2022 and 0210 are now generated when an override amount is entered on line 9, "IRC Section 179 expense deduction," of KY screen K-1, instructing the preparer to attach federal and KY Forms 4562 as .PDF documents.
    
  • KY Schedule K-1 (Form PTE K-1), Owner's Share of Income, Credits, Deductions, etc., has been approved. The watermark has been removed.
    
  • Printing alignment has been adjusted for the "State" and "ZIP code" lines on Form PTE-WH, Kentucky Nonresident Income Tax Withholding on Distributive Share Income.
  • EF Message 0194 is now generated when an override amount is entered on line 25, "Depreciation adjustment," of KY screen 3, instructing the preparer to attach KY Form 4562-K as .PDF document.

Maine Update 7

• Individual Package:
  
  • EF Message 0053 has been removed from the the program as it is no longer relevant to the Maine Educational Opportunity Tax Credit. Line 4, "Pension income deduction," of Schedule 1S (Form 1040ME),
    
  • Income Subtractions, is now marked only when there is a non-zero amount present on line 6, "Total eligible military retirement pay included in your federal adjusted gross income," of the Pension Income Deduction Worksheet.
    
• Corporation, Fiduciary and Individual Packages:
  
  • HTIC High Technology Credit is obsolete.
    
  • Maine Schedule A Carryforward of Certain Credits (ME_ATT07) has been updated to remove the High Technology Credit and ensure that other carry forward credits will appear as expected.

Missouri Update 12

• Individual Package:
  
  • The following lines have been adjusted on Part 2 of Form MO-A, Individual Income Tax Adjustments:
    
    • Lines 2 and 3: The Social Security Tax limit has been increased to $8,853.
      
    • Lines 4 and 5: The Railroad Retirement Tax limit has been increased to $14,057.,
      
    • Lines 4S and 4Y, "Other income," of Form MO-CR, Credit for Income Taxes Paid to Other States or Political Subdivisions, now include the correct amount of other state unemployment.
      

1065 Program Update 12

• Form 3468, Computation of Investment Credit, is now available for filing. The watermark has been removed.
  

North Carolina Update 4

• Individual Package:
  
  • Form D-400, Individual Income Tax Return, has been approved by the NC DoR and activated for e-file.
    

Nebraska Update 7

• Individual Package:
  
  • The amount from line 12b, "Charitable Contributions," of federal Form 1040 no longer flow to line 2 of NE Schedule III, Computation of Nebraska Tax.
    
  • Text has been updated on NE screen 458, Homestead Exemption Application, to match the latest version of Form NE Schedule I - Nebraska Adjustments to Income.
    
• Individual, Corporation, S Corporation, and Partnership Packages:
  
  • EF Message 0290 has been updated for Form PTC, Property Tax Incentive Act Credit Computation, for Cluster County.
    

General Program Update 12

• The taxpayer's bank account number will now be masked, when requested, on the client and preparer copies of federal Forms 1040 and 1040-NR. "Other Deduction" amounts entered in the Trial Balance Import spreadsheet will now be imported to the "Other Deductions" field on screen DED, as expected.
  

1120 Program Update 10

• Form 3468, Computation of Investment Credit, is now available for filing. The watermark has been removed.
  

1120S Program Update 11

• Form 3468, Computation of Investment Credit, is now available for filing. The watermark has been removed.
  

Virginia Update 4

• Fiduciary Package:
  • Form 770, Virginia Fiduciary Income Tax Return, has been updated to the latest version and activated for printing and may now be e-filed.
    
• Corporation Package:
  
  • The intended amount will now be produced on line 3h, "Income Apportioned to Virginia," Section B, of Schedule 500 A, Corporation Allocation and Apportionment of Income, when a loss is reported on line 1, columns A, "Total," and B, "Virginia."