17850: 2022.10.03 - Drake21 Updates

Arkansas Update 35

• Individual Package:
  • EF Messages 117 and 118 will no longer be generated when there is an account number and an amount on line 9, "AR 529 College Investing Plan (Gift Plan or iShares 529 Plan)," on AR Form AR1000-CO, Arkansas Individual Income Tax Check-Off Contributions.

Maryland Update 32

• S Corporation Package:
  
  • The extension due dates for the MD510 Filing Instructions have been updated as follows:
    • Six-month extension for a pass-through entity - October 18, 2022
    • Seven-month extension for an S corporation - November 15, 2022,
• Individual Package:
  • The field "MD502X ONLY - Refundable Earned Income Credit as originally reported or previously adjusted" has been added to MD screen 1. Data entered in this field will flow to column A, line 17, on MD Form 502X, Amended Tax Return.

1065 Program Update 46

• The "K3, Part XIII" tab of screen K1 now functions as expected.
  

1120 Program Update 38

• The intended amount of prior-year contribution carryovers (entered on federal screen LOSS) allowed for the current-year contribution deduction is now generated on the Contribution Limitation/Carryover Worksheet ("Wks Contribution" in View/Print mode). Prior to this update, in certain situations, an incorrect Schedule M-1 adjustment was calculated on the worksheet; this amount was correct in the 1120 return but may have caused an issue with Schedule M-1 reconciliation and carryforward amounts updated to the following year. Affected returns should be recalculated.
• The intended amount of current-year section 170(d)(2)(B) adjustments is now displayed on "Attachment NOL." Prior to this update, in certain situations, this amount was incorrect on the attachment but correct on 1120 returns. Affected returns should be recalculated.
• The Contribution Disaster Worksheet ("Wks Contrib Disaster") has been updated for clarity.
  

990 Program Update 34

• An update resolves reject "DRKPARSE" on element "referenceDocID" when filing amended Form 990-PF returns. Preparers should recalculate and retransmit affected returns.