17858: 2022.10.13 - Drake21 Updates

California Update 37

• S Corporation Package:
  
  • Amounts from line 10, "Other income (loss)," with codes F, G, or H on federal Schedule K-1, Shareholder's Share of Income, Deductions, Credits, etc., will now flow as intended to line 10b, "Other income (loss)," column B, of CA Schedule K-1 (100S), Shareholder's Share of Income, Deductions, Credits, etc.

1040 Program Update 59

• General program update.
  

Kentucky Update 35

• Individual Package:
  
  • KY Form 8863-K, Kentucky Education Tuition Tax Credit, will now be calculated as intended when federal Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits), has Nonrefundable Education Credits present in the return.

New Jersey Update 21

• Corporation Package:
  
  • The amount on line 4c, "Gross Global Intangible Low-Taxed Income," on Part I, Schedule A, of NJ Form CBT-100, New Jersey Corporation Business Tax Return, no longer flows to line 4a, "Dividends."
  • The following lines have been added to NJ screen A; data entered in these fields flows to the respective location on Part II, Schedule A, of NJ Form CBT-100, New Jersey Corporation Business Tax Return:
    • Line 14a, "IRC 250(a) deduction allowed federally for GILTI if income is included in taxable income"
    • Line 14b, "IRC 250(a) deduction allowed federally for FDII if income is included in taxable income"