18477: 2024.03.14 - Drake23 Updates

Alabama Update 11

• S Corporation Package:
  • EF Message 0157 is no longer produced when there is a Section 280F(b)(2) recapture amount present on line 5, "Other income," of federal Form 1120-S.
• Partnership Package:
  • An update prevents AL reject "SL-AL65-001" when a negative amount is produced on any of the following lines in column b or d of AL Form 65:
    • 2b, "Less allowance for bad debts"
    • 9b, "Less accumulated depreciation"
    • 12b, "Less accumulated amortization"

Federal Program Update 24

• General program update.

California Update 12

• S-Corporation Package:
  • An update prevents reject "R0000-065" when "Generate an extension" has been selected on CA screen EXT and data is present on federal screens ES and PMT.
• Corporation and Tax-Exempt Packages:
  • An update prevents reject "DRKPARSE" on element "NotApplicable" when CA Form 199 is present in the return without a "CA Corporation number" and "4 - Initial Return" is selected from the "No CA number" drop list on CA screen 100.

1041 Program Update 23

• A Return Note now assists with entering Investment Credit codes on screen 4562.

1040 Program Update 29

• The Accrued Market Discount will now be displayed on Schedule B as interest income, as expected.
• A Return Note now assists with entering Investment Credit codes on screen 4562.

Iowa Update 31

• Individual Package:
  • Forms IA 2440 and IA 125 can now be e-filed.
  • The amount produced on line 5 of Form IA 2440 now flows as intended to line 19, "Other adjustments," Schedule 1, page 4, of Form IA 11040.

Illinois Update 14

• S Corporation and Partnership Packages:
  • An EF Message is now produced when data is entered on the "Schedule B Col E worksheet - K1-P" tab of IL screen ILK1, preventing reject "IL1120B-310-4."
  • Estimated vouchers are no longer produced for IL entities that do not elect to file and pay PTE tax.
  • An update resolves reject "IL2220-900-5" when the entity does not elect to pay PTE tax but completes Form IL-2220.
• Fiduciary Package:
  • EF Message 0199 is now produced when attempting to claim pass-through entity credits without a Schedule K-1, preventing rejects "IL1041-11270-1" and "ILSCHD-3310-1."
  • Estimated 2023 IL payments entered on federal screen ES now flow as intended to line 55b of Form IL-1041.
  • An update prevents reject "ILSCHCR-4900-1."
• Corporation, S Corporation, Partnership, and Fiduciary Packages:
  • Hyphens can no longer be entered on line 11, "FEIN," of IL screen NLD, preventing reject "IL1120NLD-1400-1."

Louisiana Update 9

• S Corporation Package:
  • The "City" is now produced as intended on Form LA8453-C.
• Fiduciary Package:
  • EF Message 157 is now produced when "A - Decedent's Estate" is selected from the "Type of entity" drop list on LA screen 1, preventing reject "DRKPARSE" on element "Description."

Minnesota Update 15

• Individual Package:
  • An update prevents reject "DRKPARSE" on element "HistoricCredit" regarding MN Schedule KF.

Missouri Update 10

• Individual Package:
  • Negative values are no longer displayed on line 3 of Form MO-PTS.
  • The Social Security tax limit for the spouse has been updated on line 3, Part 2, of Form MO-A.

Mississippi Update 7

• Corporation Package:
  • Lines 8, "Federal special depreciation allowance," and line 15, "Additional depreciation due to a difference...," on MS Form 84-122 have been updated to the latest version.
  • Line 6, "Federal special depreciation allowance," and line 13, "Additional depreciation due to a difference...," on MS Form 83-122 have been updated to the latest version.
• Corporation, S Corporation, and Partnership Packages:
  • An update prevents MS reject 0102.

1065 Program Update 23

• The ability to automatically adjust tax-basis reporting for capital accounts has been added to screen M2.
• A Return Note now assists with entering Investment Credit codes on screen 4562.

1120 Program Update 24

• A Return Note now assists with entering Investment Credit codes on screen 4562.

1120S Program Update

• A Return Note now assists with entering Investment Credit codes on screen 4562.

South Carolina Update 13

• Partnership Package:
  • EF Message 0086 is now produced when a foreign address is entered on federal screen 1, requiring the "foreign province code" to be selected on SC screen 1, preventing reject "0005."

990 Program Update 23

• A Return Note now assists with entering Investment Credit codes on screen 4562.