18394: 2024.01.25 - Drake23 Updates

Arizona Update 4

• S Corporation and Partnership Packages:
  • The PTE tax rate has been updated from 2.98% to 2.5% for Schedules K-1 regarding distributed PTE credits.

Federal Program Update 8

• General program update.

General Program Update 1

• Users are now able to successfully backup their files automatically.

1041 Program Update 7

• Form 8868 has been updated to the final version.
• Form 8911 has been approved, and the watermark has been removed.

Georgia Update 4

• Individual Package
  • GA 2D barcode specifications have been updated.

1040 Program Update 11

• EF Messages have been added to the program, preventing rejects "F5695-037" and "F5695-015-01."
• Form 1040-SS has been approved, and the watermark has been removed.
• Section 179 auto limits have been updated for depreciation.
• Form 8911 has been approved, and the watermark has been removed.

Kentucky Update 3

• S Corporation and Partnership Packages:
  • KY screen CR has been redesigned to automatically calculate distributive share income subject to income tax on Form 740-PTET-CR for each partner or shareholder selected on the screen.
• S Corporation and Partnership Packages:
  • The names and addresses of partners, shareholders, and pass-through entities are now printed in the correct locations on KY Form 740-PTET-CR.
• Individual, Corporation, S Corporation, and Partnership Packages:
  • An update prevents reject "I3-66" regarding KY Form OL-3.
• Individual Package:
  • The banner has been removed from Lexington Form 211-22.

Minnesota Update 6

• Individual Package
  • EF Message 0040 is now generated when "APT" or "UNIT" is entered in the "Apt. #" field on federal screen 1, preventing reject "0046."
  • An update prevents information on non-dependents who live with the taxpayer less than half the year from flowing to Form MN1DQC.

Mississippi Update 2

• Individual Package:
  • The maximum credit amounts for the following codes have been updated:
    • Code 34 - Qualifying Charitable Contribution Credit Approved by DOR
    • Code 35 - Qualifying Foster Care Charitable Credit Approved by DOR
  • MS Form 80-401 is now produced as expected when data has been entered on more than one MS screen CRED.
• Fiduciary Package:
  • MS Form 80-401 has been updated to the latest version.
  • MS Other Income Attachment is only produced when intended.
• Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
  • Data entered on MS screen 401 is now produced as intended on MS Form 83-401.

1065 Program Update 7

• Section 179 auto limits have been updated for depreciation.
• Form 8911 has been approved, and the watermark has been removed.

General Program Update 11

• User can now use the up/down arrows on the File Open/Create dialog.

1120 Program Update 8

• The intended payment method is now displayed on the Calculation Results window.
• An EF Message is now produced when line 29, Schedule K, of Form 1120 indicates that Form 4626 should be attached.
• Section 179 auto limits have been updated for depreciation.
• Form 8911 has been approved, and the watermark has been removed.

1120S Program Update 9

• Section 179 auto limits have been updated for depreciation.
• Form 8911 has been approved, and the watermark has been removed.

990 Program Update 7

• Form 8911 has been approved, and the watermark has been removed.

Virginia Update 4

• S Corporation and Partnership
  • The estimated payment due dates and amounts for Form 502PTET are now displayed in the Client Results letter, as expected.

Wisconsin Update 2

• Individual Package:
  • The data entered on WI screen LR1 now flows as intended to the Legal Residence (Domicile) Questionnaire (WI WK_DOM).
• S Corporation Package:
  • Print alignment has been adjusted for page 4 of WI Form 5S.
  • The amount entered on line "Amount of overpayment to apply to 2024" with "WI" selected from the "St/City" drop list on federal screen ES now flows as intended to line 21 of WI Form 5S.
• S Corporation, Partnership, and Fiduciary Packages:
  • The intended check boxes are now marked on WI Schedule AR when a selection is made on WI screen PWX.
• Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
  • Print alignment has been adjusted for Part II of WI Schedule DC.