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Release notes

1120 Corporate 23-4.5F

tip

Pending releases

Release date: 4/26/2024
We released an excel template for
Form 1042
 and
1042-S
.  The excel template uses the Tax Return Import method and an API call to complete the import.
note
You'll need a license for Data Connection to use that feature to import. Contact a sales representative for activation.
You can download the templates for 1120 and 1065 on the File downloads page.
1040 and 1041 filers can use either the 1120 or 1065 tax application to e-file the forms as long as you have an EIN number. The IRS doesn't support SSNs in those schemas for the withholding agent.

Federal

We updated
Form 1120
, Page 4, line 5b so that the statement prints on line 5b instead of line 5a.
We updated the
Form 1120
 charitable contribution carryover % limitation for years 2020 and 2021.
We updated the label for the 1st column header to 7, not 1, in the
Form 1042
 organizer.
We updated the
Form 3800
 e-file so rejections don't generate for 1120 returns with credit amounts reported on the 11 Part III lines used for 1120S returns.
We updated the print for
Form 3800
 detail data related to Part IV, line 4e, columns (f) and (g).
We corrected the
Form 4562
 calculation for first-year IRC section 174 assets for 52-week and 53-week returns.

Arkansas

We updated AR1099PT so that nonresident member information for trust type doesn't also present S corp type.

Delaware

We added the print for CIT-HIC, Page 1, Info Address, state.

Indiana

We corrected the Indiana paper filing instructions print.
We corrected the IT-20, Page 1, line 4 state adjustments modifications computation.
We updated the e-file so that a validation error referencing SchM4A only generates when needed.
We updated the computation for Schedule K-1, page 1, line 11.
We updated the print for Schedule PTET.

Iowa

We updated the Schedule K-1, Page 1, PTET checkbox functionality.

Kansas City, MO

We updated RD-108B, Shareholder residency, so that it transfers from the federal return.

Michigan

We updated the tax forms display and print for MI-1040H, lines 10-12.

Minnesota

We updated the e-file so that a validation error referencing DetailedExplanation only generates when needed.
We corrected the computation for M4T, Page 1, line 18.
We updated the computation for M4T, line 14, so that an adjustment only generates when needed.
We corrected the print for M4T, Page 2, line 24.
We updated the computation for SCH KS-S/H Inc, Page 3, line 49 for no tax due returns.

Missouri

We corrected the MO-1120V scanline check digit calculation.

North Carolina

We added the NC-K-1 Supplemental Schedule to the K-1 package.

Tennessee

We corrected the computation for Form FAE 170, Page 2, Schedule F2, line 2 for 5X sales factor.

Texas

We updated Form 05-158 and Form 05-169 so that the new ‘No Tax Due Scenario’ doesn't take precedence when selecting the passive entity checkbox.
We corrected the print for the Form 05-169 final return.

Virginia

We updated the 502PTET, page 2, Section 1, line 1 computation.

This article applies to:

  • Product: GoSystem Tax RS

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