Knowledge Base

18379: 2024.01.13 - Drake23 Updates

Drake Tax Update Notes

2024.01.13 - Drake23 Updates

Federal Program Update 4

  • General program update.

1041 Program Update 4

  • The check box "Do NOT update client to next year" has been added to screen MISC.

1040 Program Update 5

  • Gain from Form 8621 is now included on Schedule D (AMT), preventing incorrect data from flowing to line 2k, "Disposition of property (difference between AMT and regular tax gain or loss)," of Form 6251.

Illinois Update 2

  • Individual Package:
    • The Property Tax Credit and Education Expense Credit are no longer calculated on IL Schedule ICR when the total income is $250,000 (Single) or $500,000 (Married Filing Jointly).

General Program Update 4

  • General program update.

1120 Program Update 4

  • 2018 net operating losses (NOLs) entered on screen LOSS are now correctly included in the post-2017 portion of the NOL limitation calculated on the NOL Limitations Worksheet (WK_NOLLM).

1120S Program Update 5

  • General program update.

990 Program Update 4

  • An update resolves reject "F4720-035."

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