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Release notes

1041 Fiduciary 24-3F

Pending releases

Release date: 1/31/2025
  • We implemented word wrapping for beneficiary footnotes.
  • We introduced the HTKO functionality for
    Form 1116
    .
  • We provided an option to print the
    Penalties and Interest workpaper
    .
  • We added text to the bottom of
    Form 990-T Page 2
    , displaying the interest amount penalty amount, as requested.
Federal forms not available:
  • Form 172, Net Operating Losses
  • Form 3468, Investment Credit
  • Form 3800, General Business Credit
  • Form 4255, Certain Credit Recapture Excessive Payments and Penalties
  • Form 5884, Work Opportunity Credit
  • Form 6765, Credit for Increasing Research Activities
  • Form 7207, Advanced Manufacturing Production Credit
  • Form 7210, Clean Hydrogen Production Credit
  • Form 7211, Clean Electricity Production Credit
  • Form 7213, Nuclear Power Production Credit
  • Form 7218, Clean Fuel Production Credit
  • Form 8582-CR, Passive Activity Credit Limitations
  • Form 8586, Low-Income Housing Credit
  • Form 8835, Renewable Electricity Production Credit
  • Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships (including all Schedules and Forms under 8865)
  • Form 8933, Carbon Oxide Sequestration Credit
District of Columbia:
 For Federal 990-T entities, we added the Unincorporated Business Franchise Tax Return (Form D-30).
Georgia:
 For Federal 990-T entities, we added the Exempt Organization Unrelated Business Income Tax Return (Form 600-T).
Idaho:
 Incorporated K-1 Received - Tax paid by the affected business entity into the Form 66, line 26 computation, and disabled the diagnostic.
Iowa:
 Included group details for Form 101, Line 12 Other Adjustment.
Massachusetts:
 For Federal 990-T entities, we added the Exempt Trust and Unincorporated Association Income Tax Return (Form M-990T-62).
Mississippi:
 For Federal 990-T entities, we added the Corporate Income and Franchise Tax Return (Form 83-105).
Montana:
  • Rewrote Form EST-I, Interest on Underpayment of Estimated Tax by Individuals, Estates, and Trusts, due to law changes.
  • For Federal 990-T entities, added the Corporate Income Tax Return (Form CIT).
Nebraska:
 Enabled e-filing.
Ohio cities:
 Added the underpayment penalty to Ohio MNPT due to the e-file requirement for 1041 Ohio Cities.
Oklahoma:
 For Federal 990-T entities, we added the Return of Organization Exempt from Income Tax Return (Form 512-E).
Rhode Island:
 added the new form, RI Schedule PTE, to the 1041 application.
West Virginia:
 Updated the Motor Vehicle credit to a group to comply with schema changes.
Wisconsin:
 For Federal 990-T entities, we added the Exempt Organization Business Franchise or Income Tax Return (Form 4T).

State

We updated or corrected the following:
  • Computation of beneficiary QBI distribution to report correct amounts.
  • Iowa
    Page 8, line 19A logic to include line 18.
  • Oklahoma
    Form OW-8-ESC FEIN and Quarter fields alignment on tax forms.
  • Virginia
    Business Rule 770-370 e-file triggers.

This article applies to:

  • Product: GoSystem Tax RS
  • Return type: 1041 Fiduciary
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