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Release notes

1040 Individual 23-4T

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Pending releases

Release date:  3/19/2024

Federal

We added the new
Form 1040NR, Schedule P
 for transfers of foreign partnership interests.
The following forms are not available with this release:
  • Form 3468
  • Form 3800
  • Form 5884
  • Form 6765
  • Form 8586
  • Form 8611
  • Form 8824
  • Form 8826
  • Form 8835
  • Form 8844
  • Form 8846
  • Form 8865
  • Form 8881
  • Form 8882
  • Form 8904
  • Form 8906
  • Form 8910
  • Form 8936
  • Election Statements
  • SRJD
  • Form 7203
  • Partner Basis Worksheet
  • We are targeting the release of
    Form 3800
     no later than April 1. Due to significant changes, this form will have limited automatic calculations but can still be e-filed. If your internal due dates don’t align with this timeline, consider extending your 1040 return.
  • We are updating the
    K-1 Transfer
     from 1065/1120S/1041 to 1040 to reflect new K-1 fields.
  • Form 7203, Shareholder Basis
     is being updated to reflect the new Schedule K-1 Other income and Other deduction fields. This doesn't affect returns that don't contain these new Schedule K-1 fields.
  • We are still working on adding the e-file for
    Form 8949
     IRC Section 1061 adjustments.
  • We're aware when a partnership has more than one K-1 for the taxpayer, the application can't transfer multiple K-1s in 1 transfer. Currently, you have to transfer them one at a time. We’ll address this in a future release.
  • We're updating
    Form 6198
    , At risk to reflect the new Schedule K-1 Other income and Other deduction fields. This doesn't affect returns that don't contain these new Schedule K-1 fields.
  • Partnership basis worksheet
     is being updated to reflect form changes and the new Schedule K-1 Other income and Other deduction fields. We are blocking this worksheet from printing.
  • Schedule K-1 Review
     contains a note on the 1st page about a future update to reflect the new Schedule K-1 Other income and Other deduction fields. This doesn't affect returns that don't contain these new Schedule K-1 fields.
  • Schedule K-1 Reconciliation
     contains a note on the 1st page about a future update to reflect the new Schedule K-1 Other income and Other deduction fields. This doesn't affect returns that don't contain these new Schedule K-1 fields.

Iowa

Form 126 e-file schema is being updated and will be available in a future release.

Missouri

Form MO-WFTC is under development.

Montana

The estimated tax worksheet is under development.

South Carolina

1040 ES estimated tax worksheet is under development.

Ohio Cities

We are currently updating the new Akron individual return forms.

Federal

  • We updated the business rule on the
    Rent and Royalty, Activity Information
     Organizer screen to block all activity types except vacation/short-term rentals with personal use from using the option that tells the program to use the number of days in the current year to allocate mortgage interest and real estate taxes.
  • We corrected print alignment for
    1040 Schedule D, Workpapers
     based on Pub 523.
  • We unblocked the credit carryover screens from Organizer for
    Form 3800
    . These screens are for
    reference only
     in 2023.
  • We updated
    Form 4952
     and
    Form 4952AMT, line 4-d
     workpaper for capital gain/loss port Lt and St.
  • We corrected an issue for
    Form 5695
     where Page 2 and 3 were not printing if there was only information for  the taxpayer.
  • We corrected an issue for
    Form 5695
     where the amount entered for the taxpayer for cost of panelboards and most expensive door did not flow to tax form.

District of Columbia

We updated the calculation on Form D-40ES DC when the overpayment option is applied to all of next year’s estimated tax.

Iowa

We updated
Form IA126
 "Otheradjustments" to correctly generate the e-file.

Louisiana

We updated
Form 540B, line 27
 withholdings to properly carry the correct amount.

Massachusetts

We updated
Form 2210 - Diagnostic
  (MA Business Rule F1-0236) to properly trigger when applicable.

Maryland

We added redaction to the scanline on
Form 502DEP, Estimated Tax Payment Voucher
.

Michigan

We addressed an issue where the e-file reject diagnostic for rules 366 and 367 for lines 12 and 14 of
Form 4884
 were displayed in error for returns with railroad retirement tier 1 benefits.

North Dakota

We updated
Schedule ND1-TC, line 2
 to correctly generate in the e-file.

Ohio

We resolved an issue with the calculation on
Form IT-NRC, Page 1, line 20
.

Ohio School District

We resolved the issues with the calculation of the new estimate worksheet and
OUPC SD
 vouchers flow and print.
We resolved an issue on
SD100, line 21
 with the carryover of overpayment being applied after estimates paid flowing to line 27.
We updated the School District Troy CSD to the correct
tax type
 of earned income.

Oklahoma

We remove municipal bond interest on Form 511, Schedule B, line 8.
We resolved an issue on Form 511 Schedule B, line 1 statement with tax-exempt dividends from consolidated 1099 forms not being included.

Utah

We corrected Form TC-40A, Part 3 and 4 Codes.

Virginia

We updated the Deduction 111 - Charitable Mileage calculation in Organizer.

This article applies to:

  • Product: GoSystem Tax RS

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