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 1

1041 Program Update 7

Georgia Update 4

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

General Program Update 11

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

990 Program Update 7

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.