Skip to main content

Legal

Recommended products

Questions? We are here to help
Contact us

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Release notes

1041 Fiduciary 24-5.7F

Pending releases

Release date: 07/11/2025
Form 5471, Information Return of US Persons with Respect to Certain Foreign Corporations is available in this release.
Form 8865
, Return of U.S. Persons With Respect to Certain Foreign Partnerships and all Schedules and Forms included under the 8865, is available for e-file with the following exceptions. Also, the sections in the 8865 are not available in the tax application yet.
  • Form 3468, Part V: Only applicable to returns ending in 2025
  • 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
Form 592-V
: The filing instructions for Form 592-V isn't available for this release.
State
  • Added Federal State Copy to the following 990T state electronic filing for California, DC, Mississippi and Montana.
  • Added 990T electronic filing for Kansas and Maryland.
  • California: The following are available for this release.
    • Form 592, Resident and Nonresident Withholding Statement
    • Form 592-B, Resident and Nonresident Withholding Tax Statement
    • Form 592-V, Payment Voucher for Resident or Nonresident Withholding

Federal

We updated or corrected the following:
Form 1041
:
  • Changed the trust accounting income computation to consider margin interest entered on Consolidated 1099.
  • Changed the trust accounting income computation to consider total state taxes without regard to the $10,000 SALT limitation.
Form 5227
:
  • Corrected the logic for 5227, Page 2, Part II line 1-3, Column C, Nontaxable Income, Accumulated NII.
  • Updated Form 5227 Schedule K-1 to compute the correct ordinary business income on line 6.

State

We updated or corrected the following:
California
:
  • Updated the e-file version number to 2024V4.3
  • Updated the See statement print for form 1041 CA 541-B Part 1 Section D, Charitable Deduction.
  • Updated the whitepaper for the CA 541-B Pg 4 balance sheet detail for other liabilities.
  • Added an option to suppress the printing of form CA541A in Organizer.
Hawaii
:
  • Added the capability to compute penalties and interest for late filing for the HI-N70NP.
  • Added the Hawaii Form N-40 Tax Computation Statement in print that is required as a binary attachment to the e-filed return.
Kansas
: the Kansas Form K-41 will calculate using the amounts from the federal Form 990-T.
Maine
: When the federal return is Form 990-T, the Maine Form 1041ME will calculate using the amounts from the federal Form 990-T. The Maine Revenue Service doesn't support e-file for this filing scenario so you'll need to paper file these returns.
Maryland
: When the federal return is Form 990-T, the Maryland Form 504 and 504NR will calculate using the amounts from the federal Form 990-T.
Michigan
:
  • When the federal return is Form 990-T, the Michigan Form MI-1041 will calculate using the amounts from the federal Form 990-T.
  • Corrected the MI-8949 computations to no longer trigger reject diagnostic 404 due to a missing total in the federal column
Nebraska
: Updated BRMs and the diagnostic is no longer generates when PTET Claimed Credit Amount on line 2 equal total owner electing part credit amount on Form 1041N Line 26.
Oregon
: Updated the logic to OR Form 41, Page 2, line 8.

This article applies to:

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

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close