1040 Individual 24-4.2T

Pending releases

For 2025 we are pulling in prior year suspended losses into Parts IV and VI from Form 8582-CR. The carryover schedules will only be used for non-passive carryovers. If your carryover schedules include passive numbers from the prior year that are covered by Form 8582-CR prior year-suspended losses, you will need to make an adjustment so the amount is not doubled.
There is a hyperlink on top of pages 3-9 that will take you to workpapers where you can override for parts V and VI.
If there is a single row on the grid, the credit won’t print on parts V and VI (instead it goes directly to parts III or IV)
If you add a line be sure to include the Line Number since it's the line number field that determines if data transfers to parts V and VI or straight to parts III and IV.

California LLC, functions to e-file multiple 568 LLC extension and estimated returns
Montana, Credit for Income Taxes Paid to Another State or Country and the Annualized Income Installment Method
Oregon Counties, Form PIT-V and Filing instructions for OR-TM, Metro SHS and MultCo Preschool

Form MI-1040D, Part 4 is not populating when Michigan has capital loss carryforward balance, but federal has not.
On Form 5472, the Savings account checkbox for direct debit option is not populating.

Federal

State

Multiple Form 568 LLC e-file is available. Follow these steps to create the e-file:
Activate 568 LLC in Organizer by selecting
States
California
568 LLC
LLC Schedules
.
We automatically carry activity name from federal Schedule C, E and F.
Enter
X
next to
Activity name
to generate 568 LLC for the activity. Each 568 LLC activity will have an Organizer folder that has multiple tabs for entering data. The folder name will be the activity name.
Enable e-file by selecting
States
California
568 LLC
CA LLC for Sch C (E, F)
Activity name
General Information
.
Select
Efile Enable
.
Enter the Change Bank Information by going to
States
California
568 LLC
LLC Banking Information
.
Enter
X
to authorize direct debit.
Enter the direct debit date and amount to debit.
Create the e-file by selecting
E-file
, then
Enable/Create
spreadsheet. Make sure
CA LLC
is populated in column A.
Select
Create Return E-files
.
View the e-file status by selecting
E-file
, then
Enable/Create
spreadsheet and select
CA LLC
in Column B to view e-file status for each activity.
Schedule CA, Page 6, line 21 should include deduction related to portfolio income (subject to 2% floor).
Updated the print alignment on Schedule W-2, Box 14 Amount.

Updated the print for M8582 Part VI so the K-1 Name properly displays.
Updated Schedule B, line 6 state tax exempt interest to flow properly.