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18428: 2024.02.14 - Drake23 Updates


Drake Tax Update Notes

2024.02.14 - Drake23 Updates

 

Alabama Update 4

  • S Corporation and Partnership Packages:
    • Forms 20S, 65, PTE-C, and EPT have been approved for e-file and are now available.

Colorado Update 2

  • Individual Package:
    • Individual CO returns can now be e-filed without a federal return.
    • The expected amount is now calculated on line 4, "Federal Deduction addback," of CO Form DR 0104.
    • Decimals with a place value of ten thousandths are now supported on line 6, "PY or NR apportionment percentage," of CO screen AMT.
    • EF Message 1330 has been added to the program, preventing reject "DRKPARSE" on element "StrategicCapCrdtExpire2022."
    • Per the CO DOR, contributions to both a qualified state tuition program and ABLE program for the same beneficiary during the tax year are now limited per-beneficiary to $20,700 ($31,000 for Married Filing Jointly returns).
    • The expected amount is now calculated on line 16, "Total refundable credits," of CO Form DR 0104CR.
    • EF Message 0009 has been removed from the program, allowing estimated payments to be e-filed. 
    • Line references have been updated for EF Message 0134. 
    • The expected amount is now calculated on line 34, "State Sales Tax Refund," of CO Form DR 0104 for full-year residents.
    • Line 13 of federal Form 8812 now flows to line 4, "Federal credit limitation," of CO Form DR 0104CN as expected.
    • Federal adjusted gross income thresholds have been updated for CO Form DR 0104CN.
  • Corporation and S Corporation Packages:
    • The following forms have been updated to the latest version:
      • DR 0106CR
      • DR 0106K
      • DR 0112CR
      • DR 0112X
  • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • Additional Return Notes have been added to the program.
General Program Update 2
  • General program updates.

Iowa Update 12

  • Individual Package:
    • An update prevents reject "DRKPARSE" on element "OtherAdjustments" regarding Form IA 126.
    • An update prevents reject "DRKPARSE" on element "CityNm" when numbers are entered in the "City" field on IA screen 5.
    • The Educator Expense Limits have been updated to $200 a person.
    • An update prevents reject "DRKPARSE" on element "ZipCD" when filing Form IA 1040.
    • EF Message 0042 is now produced when a negative amount is present on line 15, "Health Insurance Deduction," page 4, of Form IA 1040.
  • Corporation Package:
    • The intended "tax period end date" is now produced on Form IA 101.
    • The watermarks have been removed from IA Tax Payment Voucher (IA TPV).
    • The intended penalty is now calculated on Form IA 2220 when the tax due is greater than $1,000.
  • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • An update prevents reject "DRKPARSE" on element "PassThrough" when filing Form IA 128.
    • An update prevents reject "DRKPARSE" on element "PassThrough" when filing Form IA 128.
    • An update prevents reject "DRKPARSE" on element "PassThrough" when filing Form IA 128.
  • S Corporation, Partnership, and Fiduciary Packages:
    • Form IA PTE-C specifications have been updated per recent IA guidelines.
  • S Corporation and Partnership Packages:
    • Page 9 of IA Form 1065 has been added to the program.
    • "Schedule C - Payments" has been added to page 6 of Form IA 1065.
    • Former screen C has been updated to name Screen E for 2023.

Michigan Update 12

  • Individual Package
    • The intended amount is now calculated on line 19, "Total retirement pension benefits subtraction," Section D, of MI Form 4884 when all the following conditions are met:
      • Married Filing Separately filing status
      • Taxpayer or surviving spouse is under the age of 67 years old and was born between January 2,1956, through December 31,1958.
      • Taxpayer or surviving spouse did not receive SSA exempt employment,
    • The intended deduction is now produced on MI Form 4884 when the following occurs:
      • "Received qualified retirement benefits earned from service...," is selected on MI screen 1.
      • Spouse is not deceased.
      • Taxpayer or spouse was born after January 2, 1962.

General Program Update

  • General program updates.

Virginia Update 6

  • Individual Package:
    • Estimated payments now flow to line 10, "Enter the amount of any timely payment made...," on VA Form 760C.
    • An EF Message is now produced when the spouse information is missing on Form VA760ADJ, preventing reject "DRKPARSE" on element "Spouse."
  • S Corporation and Partnership Packages:
    • Various help and cosmetic updates have been made to enhance Form 502PTET.

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