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Release notes

1041 Fiduciary 24-4F

Pending releases

Release date: 3/21/2025
New York
: There is an informational diagnostic to alert preparers to a possible rollover issue with prior year estimates paid in the current year. Verify that the amount rolled over from prior year estimates paid in the current year does not include a 2022 overpayment from the 2023 return. Use this query for 2023 1041 to identify potentially affected returns
For the 2024 return, go to Organizer, select
States
New York Payments
. In the Estimated Tax section, enter the correct amount for the
Prior Year Estimates Paid
 in the current year.
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:
  • 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 8835, Renewable Electricity Production Credit
  • Form 8933, Carbon Oxide Sequestration Credit
Form 3800
 is released with the following limitations. E-file is available for Form 3800 if Part VI is not used in a return.
  • The columns for applied against tax and carryover to next year won’t populate. Override as needed.
  • Facility credits are not taking into account any transfer or EPE registration numbers. This will be updated on a future release to pull in on a facility by facility basis instead of a summary basis.
  • Part VI won’t e-file at this time. A binary attachment is required until the IRS updates their schema. This information was found on the IRS Known Issues and Solutions website.
  • Credit utilization is not released yet. It will be available on a future release.
  • Calculation carryover revision: 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'll 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.

Federal

We updated or corrected the following:
  • Suppressed the print of foreign tax credit details on the tax information letter when foreign tax is totally retained to the trust.
  • Updated the wording to use the new Organizer screen to activate the 990-T states.
  • Updated the income/deduction whitepaper to print market discount correctly.
  • Updated Form 3800 and the Carryover Schedule.
  • Updated the print so the description for the purchase interest related to United States Government interest in the statement prints correctly.
  • Turned off the reject diagnostic for Form 172 NOL since the IRS will begin to accepting Form 172 e-file on 3/ 23/2025.
  • Removed interest on Late Payment Penalty on Penalties and Interest workpaper.
  • Updated the late interest penalty to compute based off 365 days for 2025.
  • Updated the grantor letter to print margin interest expense.

State

We updated or corrected the following:
California
: Added the data dictionary import fields for CA990T to Form CA 109 Organizer and Tax form fields.
Colorado
: Form 105, line 22 now uses the CO value from common state for tax withholding.
District of Columbia
: Corrected the D-41E signature authorization form not printing for grantor trusts.
Illinois
:
  • Populates Form IL-990-T Page 2 Step 7 date and check box correctly.
  • Calculates Form IL-990-T Page 1 Step 4 line 12 correctly.
  • Updated business rule IL1041-300-2 related to attach Schedule ILD.
Kansas
: Updated the interest percentage for late payment.
Louisiana
: Electronic filing now includes tax period dates in the e-file for calendar year returns.
Maryland
: Added a reject diagnostic related to MD return tax year and beginning day.
Massachusetts
: Corrected an issue causing the electronic filing reasonable cause worksheet to not print for Form 2G accounts.
Montana
: Updated 1041 Montana Form CIT Page 3 lines 7 and 10 to populate the correct data.
Nebraska
:
  • Updated print for Fiduciary and Paid Preparer information section on 1041 Nebraska Form 1041N for grantor type return.
  • Updated print for Nebraska form 12N, and the beginning and ending year is now printed correctly on the top of the form.
  • Added NE Schedule PTET for print and e-file.
  • Updated print for Nebraska Form 1041 grantor type return and Fiduciary and Paid Preparer information section are now printed correctly.
New Jersey
: Corrected market discount not being used in the computation of the distribution deduction.
New Mexico
: Corrected the calculation in FID-1 line 13.
New York
: Updated the late payment interest rate calculation per the 2025 interest rates from the New York state website to 9.5% for 2025, from 10.5% for 2024.
North Carolina
:
  • Added Data Dictionary information.
  • Corrected Form NC-PE, line 38c computation.
Pennsylvania
: Updated 5227 Return Schedule K-1 beneficiary SSN/EIN e-filing.
Utah
:
  • Updated TC-41A Parts 1-2 to flow to TC-41.
  • Updated TC-41A print totals.
Vermont
: Corrected the mailing address referencing Vermont FIT-160 for letters and filing instructions.
Wisconsin
: Corrected the spelling of "Wisconsin" on the state e-file filing instructions.

This article applies to:

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