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18512: 2024.04.05 - Drake23 Updates


Drake Tax Update Notes

2024.04.05 - Drake23 Updates

 

Alabama Update 14

  • S Corporation and Partnership Packages:
    • Line 19 of Form 20S, and line 20 of Form 65, "Other deductions," will include the "Energy efficient commercial buildings deduction" from federal Forms 1120-S or 1065.
  • S Corporation Package:
    • Line 1 of Schedule A, on page 2 of Form 20S, will now include any amounts paid that are considered pass-through entity tax payments that are also deducted on the federal return.
  • Partnership Package:
    • EF Message 0116 now prevents a filing error for element "WithdrawalsDistributions." Line 8, "Withdrawals and distributions" on AL Schedule K-1 cannot be a negative amount for electronic filing.

Arkansas Update 14

  • Individual Package:
    • The amount entered on line 5, "Interest income," of federal screen K1P is no longer produced as negative amount on line 19, "Rents, royalties, partnerships, estates..." page 2, of Form AR1000F.
    • Amounts entered on federal screen 99N with "1040 Line 8 Other Income" selected from the "For" drop list now flows as intended to line 8, "Other," on Form AR-OI.
    • Line 8 Other Additions to Income (AROTHER) is now produced when the amount is present on line 8, "Other," on Form AR-OI.
  • S Corporation and Partnership Packages:
    • The intended date is now produced on the scanline at the bottom of Form AR1100ESPET.

General State Programming Update 17

  • Iowa:
    • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
      • The mailing address for IA tax payment vouchers has been updated on the Client Results letter.

Federal Program Update 30

  • Amounts are no longer required on Section 1 of Schedule E (Form 5471) when there are no taxes paid or accrued directly by the foreign corporation. EF Message 4533 has been updated to reflect this change.
  • An update resolves reject "DRKPARSE" on element "CountryCd."

California Update 16

  • Individual Package:
    • An underpayment penalty is no longer produced on Part II of CA Form 5805 for returns with a prior-year tax below $500.
    • An updated prevents reject "DRKPARSE" on element "FilerStatus" when filing CA Form 540-2EZ with a Qualifying Surviving Spouse or Registered Domestic Partners filing status.
  • Corporation Package:
    • EF Message 2931 has been updated.
  • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • Installment sales entered on federal screen 6252 with "Noncapital asset" selected is no longer included on line 10, "Ordinary gains and losses not included on line 11," Part II of CA Schedule D-1.
    • An update prevents reject "DRKPARSE" on element "SalePriceFailedExchngOrBootAmt" being invalid when negative amounts are entered on "Part VI - Computation" of CA screen 593.

Colorado Update 14

  • Individual Package:
    • Improved the accuracy of when EF Message 0189 for the 1099-NEC will fire.
    • Changes made to CO WK_ID have been reverted.
    • Corrected a typo in the software when attaching a PDF of Form 1099-SSA.
    • The TABOR credit will calculate as expected when either the federal return or the CO return has been accepted.
    • Improved the accuracy of when EF Message 0187 for the Wildlife Mitigation Expense Credit will fire.

Delaware Update 9

  • Individual Package:
    • The nine-digit ZIP code is now displayed on Form PIT-EXT.

1041 Program Update 30

  • Form 8868 is now available for e-file.

1040 Program Update 36

  • EF Message 1014 is now produced when "S" is selected from the "TSJ" drop list on screen 8332 for non-Married Filing Jointly returns.
  • The taxable adoption benefit amount on page 2 of Form 8839 is now produced as intended on line 1f, "Employer-provided adoption benefits...," of Form 1040 when there is interest income on the return.
  • "Form 56" PDF attachments are no longer duplicated on the "EF PDF Attachments" window in View/Print mode.
  • Data from line 5c, "State and local personal property taxes," of Schedule A (Form 1040) is now included on line 3a, "Certain itemized deductions or standard deductions," of Form 1116 when itemizing deductions.
  • The amount of "Foreign Tax credit" is no longer doubled on the Carryover Worksheet (WK_CARRY) when "Elect to claim FTC without filing Form 1116 when possible" is selected at Setup > Options > "Calculation & View/Print" tab.

Iowa Update 40

  • Individual Package:
    • Form IA130 is now produced when intended.
  • Individual and Fiduciary Packages:
    • The intended amount is now calculated on line 19 of Form IA 130 when line 17 is limited 100%.
  • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • Two decimals are now displayed on the intended IA forms.

Iowa Update 41

  • Individual Package:
    • A pop-up window is no longer produced when "No" is selected on line 1, "Is the capital gain from a C corporation," Part III, of IA screen 100H > "Page 3" link.
    • "0" (zero) is now produced on line 9, "If the adoption for this child was finalizes," and line 16, "Iowa Adoption Tax Credit," of Form IA177 when no amounts are present on those lines, preventing reject "DRKPARSE" on element "FormIA177."
  • S Corporation and Partnership Packages:
    • An update prevents reject "DRKPARSE" on element "Partner."

Illinois Update 18

  • Individual Package:
    • EF Message 1034 has been removed from the program.
  • Corporation, S Corporation, and Partnership Packages:
    • EF Message 0058 is now produced when intended.
  • S Corporation, Partnership, and Fiduciary Packages:
    • EF Message 0348 is now produced when "PT" is selected from the "Type" drop list on federal screen ES in the Fiduciary package.
    • IL Estimated Payment Vouchers are now produced when data is present on federal screen ES.
    • Overpayment amounts entered on federal screen ES now flow as intended to the following:
      • Line 55a, "Credits from previous overpayments," of Form IL-1041 (Fiduciary package)
      • Line 65, "Credits from previous overpayments," of Form IL-1065 (Partnership package)
      • Line 65a, "Credits from previous overpayments," of IL Form IL-1120-ST (S Corporation package)

Kansas Update 11

  • Fiduciary Package:
    • Amounts for nonresident beneficiaries that overflow to the KS41ATT3 worksheet will now be calculated as expected.

Maine Update 21

  • Individual Package:
    • ME Return Note 43 is now produced when an amount is entered on line 1, "Ordinary income or loss," of federal screen K1P and the Student Loan Repayment Tax Credit Worksheet (ME Student Loan Repayment) is present in the return.
    • The expected amount is now produced on line 1, "Enter the amount of your earned income...," of the Student Loan Repayment Tax Credit Worksheet (ME Student Loan Repayment) when a data is entered on federal screen K1P.

Missouri Update 12

  • Individual Package:
    • "0" (zero) is now allowed as an override amount on line 2, "Taxable Social Security benefits," of MO screen A3.

1065 Program Update 29

  • Returns with Form 8082 can now be filed when "BBA AAR" is selected on screen 8082, preventing reject "F1065-088."

General Program Update 35

  • General program update.

1120 Program Update 30

  • Schedule H of Form 1118 in the Corporation package is now available for paper-filing.

1120S Program Update 31

  • General program update.

990 Program Update 29

  • General program update.

Virginia Update 15

  • Individual, Corporation, S Corporation, and Partnership Packages:
    • Limits to the Land Preservation Tax Credit and Conservation Tillage and Precision Agriculture Equipment Tax Credit have been updated for the current year.

Vermont Update 12

  • Individual Package:
    • VT Worksheet IN-152 is now produced when a penalty is calculated.
  • Corporation Package:
    • The following minimum tax rates have been updated for line 13 of VT Form CO-411:
      • If VT gross receipts are $1,000,001 - $5,000,000, the minimum tax is now $2,000.
      • If VT gross receipts are $5,000,001 - $300,000,000, the minimum tax is now $6,000.
  • S Corporation and Partnership Packages:
    • Federal data no longer automatically flows to lines 10A and 11A of VT Schedule BI-477. These amounts must be entered on VT screen 477.

Washington Update 8

  • Individual Package:
    • The investment Income limit for the year will be verified and the credit, Return Notes, and EF Messages will be generated, as intended.
    • The e-file program has been updated so that the check box for qualifying students on page 3 of the Working Families Tax Credit Application match the selections made on the federal screen 2, "Dependents."

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