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Release notes

1041 Fiduciary 23-3.5F

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Pending releases

Release date: 3/8/2024
The following forms are not available with this release:
  • Form 8865
    , Return of U.S. Persons With Respect to Certain Foreign Partnerships and all Schedules and Forms included under the 8865; we hope to release this sometime in May, and advise extending returns with Form 8865 on them.
  • Form 3468
    , Investment Credit; we hope to release this sometime in May, and advise extending returns with Form 3468 in them.
  • Form 3800
    , General Business Credit; we hope to release this sometime in May, and advise extending returns with Form 3800 in them.
  • Form 5884
    , Work Opportunity Credit
  • Form 6765
    , Credit for Increasing Research Activities
  • Form 8586
    , Low-Income Housing Credit

Rhode Island

The current final instruction of Schedule K-1, dated as 01/04/2024, will get an update soon. We’ll update our application accordingly. For now, we are blocking Rhode Island Schedule K-1 from printing.

Federal

Form 8858
, Information Return of U.S. Persons with Respect to Foreign Disregarded Entities and Foreign Branches is now available in the tax application. E-file for the 8858 is not available for this release, but will be in a future release. We made a change to include prior year state overpayment in the Form 1041, line 8 (other income) detail statement.
We have added
NOL carryover schedules
.
Form 990-T
, Exempt Organization Business Income Tax Return, is available for this release, but
990-T e-file
 will not be available until 23-3.7T.
We updated
Federal Schedule E
 with new other income and other deduction fields from pass-through entity K-1s.
We updated the NOL amount on
Form 1041
, Page 1, line 15b and Organizer screen.
We updated
1041 electronic filing
 to generate the filer foreign address correctly.

California

We updated the e-file for Form 3804-CR so that it no longer generates a validation error when there is no PTE tax credit information on Part I, but a carryover amount is being reported on Part II.

Illinois and Illinois NR

We deactivated the obsolete IL business rules.

Indiana

We updated the application for Indiana so validation errors no longer exist for the e-file return stamp.

Iowa

We corrected Form IA PTE-C filing instructions to print only when Form IA PTE-C is being generated.

Kansas

We corrected the calculation on line 21 on Kansas Form K-41.

Louisiana

We corrected Form IT-541 2D barcode scan values to print blank if the form value is zero.
We updated Form R-10606, Supplemental Worksheet for Credit for Taxes Paid.
We corrected Form IT-541, Page 3 preparer ID number to not be truncated in form view.

Michigan

We corrected the invalid trigger issue with Michigan reject diagnostic 125 which states that the tax on line 13 must equal the taxable income on line 12 multiplied by 4.05%. Previously it was triggering when the taxable income on line 12 was negative.
We corrected the invalid trigger issue with Michigan reject diagnostic 136 which states that MI-1041 line 17 must be zero when MI-1041 line 16 is greater than MI-1041 line 13. Previously it was triggering when a return had no income (such as a final return).
We have corrected the invalid trigger issue with Michigan reject diagnostic 135 which states that if MI-1041, line 17 income tax must equal MI-1041 line 13 minus line 16 is invalid if line 16 is greater than line 13.
We have corrected the invalid trigger issue reject diagnostic 102 that states that if there is an amount on MI-1041, line 9 the ESBT worksheet must be attached as a binary attachment. That diagnostic will no longer trigger if that line is blank.

Nebraska

We added new PTET credit schedule for Nebraska and updated calculation to transfer to Form 1041N, line 26 and Schedule K-1N, line 19 year 2023.

New York

New York Form IT-182 is now available, but only for paper filing.

North Carolina

We added an e-file reject diagnostic for times when Form NC D-407, line 6 does not equal Form NC D-407, Schedule B, line 5 due to override.

Utah

We have corrected Form TC-41C to suppress.

Vermont

We corrected Form FIT-K-1VT-F, line 1 to print correctly when there is a loss.
We corrected Form FIT-161, Page 2, line 18 yellow whitepaper details to generate Late Penalty Fee if less than 60 days.

Virginia

We addressed the print option for paid preparer signature on VA Form 770, Page 2 and Form VA-8879F, Part III.
We updated the Virginia Addition Modification to include ESBT income to other additions computation on Form 770, Page 2, Schedule 3.
We updated the Virginia diagnostic 770-555 computation.

Wisconsin

We corrected Form 2 Name Change to only be checked if name of estate or trust has changed.
We corrected the form PW-1 Transmittal letter to print only when triggered.

Minnesota

We updated Form EST, line 20 to calculate correctly.

This article applies to:

  • Product: GoSystem Tax RS

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