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Release notes

1041 Fiduciary 24-4.6F

Pending releases

Release date: 05/02/2025
We added an option to exclude state overpayment applied from being included on
Form 1041, lines 8 and 11
. This option appears in Organizer under
Income
.
We added an option (and related input) to consider tax benefit when determining federal taxability of state overpayment (how much state overpayment is to be included on
Form 1041, line 8
). This option and related input appears in Organizer, when you select
Income
, then the
Income
screen. In this initial year, there is no proforma. So you will need to do manual entry of the prior year amounts. Proforma will be set up for Tax Year 2024 to Tax Year 2025 but only for returns computed on version 24.4.6F or later.
Form 8865
, Return of U.S. Persons With Respect to Certain Foreign Partnerships and all Schedules and Forms included under the 8865, is available with the following limitations:
  • Form 8865, all schedules and forms included under the 8865 aren't available for e-file for this release.
  • The following forms under the 8865 are not available within the tax application yet:
    • Form 3468, Part V: Only applicable to returns ending in 2025
    • Form 4255
    • Form 6765
    • Form 7210: IRS e-file schemas updated to allow for filing with Form 8865
    • Schedule K/K-1 Line 15 Codes S, W, and X and Line 20 Code AV (applicable to tax years ending in 2025)
Federal forms not available on this release:
  • Form 7211, Clean Electricity Production Credit
  • Form 7218, Clean Fuel Production Credi
  • Form 8933, Carbon Oxide Sequestration Credit

State

We updated or corrected the following:
Alabama
: Added extension alert to review payment date before submission.
California
:
  • Corrected an alignment issue with the CA 541-B, Schedule K-1.
  • Corrected a print alignment issue on the CA-541A, Schedule K-1.
Michigan
: Corrected Michigan reject 404 and 406 diagnostics to not trigger incorrectly when the related MI-8949 conditions do not exist.
Mississippi
:
  • Corrected state forms for 990T returns only printing when specific forms were selected.
  • Corrected 990T return 83-105 page 4 printing as page 3.
New Jersey
: Corrected the New Jersey Estimated Payment worksheet so it no longer prints under Alabama.
North Carolina
: Corrected logic for allocation of adjustments on Form D-407 page 2, Schedule A lines 4 & 5.
Vermont
: Added option to include ESBT Total Income to FIT-167, line 10.

This article applies to:

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