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Release notes

1040 Individual 23-5.3F

tip

Pending releases

Release date: 6/14/2024
  • Form 3800
     is available. You can e-file this form for those not having credits from Forms 7207, 7210, 7213, and 8933. Carryover utilization will be available on a future release.
  • We're updating the
    K-1 Transfer
     from 1065/1120S/1041 to 1040 to reflect the new K-1 fields.
  • We're 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.
  • 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 only affects returns that contain these new Schedule K-1 fields.
  • We're aware that the explanatory statement for
    Form 1116
    , line 3 isn't included in the e-file when there are HTKO adjustments. We'll address this in a future release.

Iowa

We're updating the Form 126 e-file schema to include an attachment for a spouse's NOL waiver. It will be available in a future release.

Pennsylvania locals

We're working on updating Berkheimer forms to the latest version.

Tennessee

We're working on correcting the FAE 170 Filing instruction. The filing information and paragraphs are not printing correctly.

Federal

We corrected an error computing an incorrect current year
depreciation
 amount when electing a 50% prior year bonus for assets placed in service in prior years.
Form 3800
 carryover utilization is available. You need a full-recompute of your return. Tax form view can be seen in a new folder after Form 3800. Current year utilization for non-K-1 sources will need manual entries under Organizer, Credits, then Credit Carryover Utilization to connect the data with the correct carryover schedule. An informational diagnostic and a message under Manual Allocation Status will tell you where data entry is necessary. You can also print the tax form view of carryover schedules with the print options under Organizer, Credits, Credit Carryover Utilization, then Carryover Utilization by Activity. The "By Activity" option will print all carryover schedules grouped by each activity (i.e., each K-1 will list out all the credit forms applicable), and "By Form" will group by each credit form.
We added organizer input to enter amounts for
Form 1040
 Schedule 1, line 8n, Section 951(a) income.
We made the diagnostic for Form 8283 Business Rule Number F8283-007-002 temporarily unavailable.

California

We updated Schedule S, line 7 for the Pass Through Entity credit from other states.
We updated Basis Worksheet, line 3e to calculate correctly.
We updated the interest rate for underpayment after 6/30/2024 to 8%.
We updated Form 4684 to switch the line 13 and 14 display fields.

Colorado

We updated the DR 8454 ERO signature line to print an alternative signature.
We updated the print for Forms DR 1703 and DR 1366.

Maryland

We corrected an e-file issue for Form 505X.

Michigan

We updated the print for CF-1040 Page 1, lines 23 and 26.

New York

We updated the Pass-Through Entity Tax enhancement to bring it down to credit for taxes paid for Form IT-112-R.

North Dakota

We updated an ND-1 Line 30 Logic box for overpayment to generate a number for calculating.

Pennsylvania

We updated the Rental/Royalty property trigger for print.

This article applies to:

  • Product: GoSystem Tax RS

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