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Release notes

1041 Fiduciary 24-5F

Pending releases

Release date: 05/23/2025
We added the following forms and new features:
  • Added
    Form 926 e-file
     to 990-T returns in the 1041 application.
  • Added an option to suppress
    Schedule I
     on the 990-T calculation.
  • Added
    Form 7211 Clean Electricity Production Credit
    .
  • Updated the
    ESBT return process instruction
    .
  • Added an informational diagnostic which generates when the fiduciary address you've entered exceeds 35 characters in length.
  • Revised the presentation of dividends on the detail statement. Total dividends will now appear under 1 column rather than be separated into 2 columns. For dividends entered in the
    Consolidated 1099 Organizer
     screen where a total amount was entered with no corresponding Qualified amount, the detail statement will indicate NONE for the Qualified amount.
  • Added an option to exclude
    QBI adjustment
    .
  • Updated the 1041 federal schema with mapping changes to
    Form 8582 Part VIII
     totals.
  • Updated the line reference on the
    Consolidated 1099 Organizer
     screen.
  • Added the
    Form 4255 Credit Recapture
     for filing under the Form 8865.
  • Added the
    Form 6765 Research Credit
     for filing under the Form 8865.
  • Added the
    Form 7210 Clean Hydrogen Production
    for filing under the Form 8865.
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
    • 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

Federal

We updated or corrected the following:
  • Updated the Penalty and Interest workpaper so the interest is compounded correctly.
  • Updated the diagnostic for Business Rule R0000-223 to be an alert diagnostic rather than a reject diagnostic.
  • Revised the former fiduciary address statement such that former fiduciary address and former fiduciary city/state zip now appears as 2 lines. This prevents potential truncation of data.

State

We updated or corrected the following:
California
: Updated California passive loss limitation when the active activity with prior year passive loss and the box to keep the loss as passive is checked.
Georgia
: Added calculated fields for interest and penalty for Georgia Form 600T Page 2 Schedule 2.
Illinois
: Updated IL Schedule K-1-T Page 2 line 39a amount to match with IL-1041 Page 2 line 17a amount.

This article applies to:

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