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

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

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

1120S Program Update

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