1120 Corporate 23-6.4F

Pending releases

Release date: 8/23/2024
We updated the
K-1 Transfer
program to allow for the transfer of K-1 information from accounts residing under the same firm account. If the locator is under a different firm account, you need to move it to the target’s firm account. You also need to open and close all source returns once after this release to enable the transfer. The returns don’t need to be calculated, they just need to be opened and closed once to facilitate the transfer.

Federal

We updated
Form 1120-L
, Page 3, Schedule F print.
We updated
Form 7205
e-file so validation errors don’t generate when they aren’t needed.
We updated the
Form 8990
, line 6 calculation to include the line 25 deduction.

State

Alabama:
We updated the default for the Alabama Railroad Modernization Act of 2019 credit to
Blank
instead of
Yes
.
Georgia:
  • We corrected Georgia 600, Page 8, Schedule 12 topcon print.
  • We corrected Form 600, Page 1, Schedule 1, line 8 overlap print.
Indiana:
  • We updated Indiana Schedule IT-20PIC so that the amount fields are available for data entry.
  • We corrected the computation for Indiana IT-20, Page 1, line 11.
Iowa:
We updated Iowa Page 2, line 1 detail statement print to include NOL.
Maine:
We corrected the print for Maine Form 1040C-ME, Page 4.
Massachusetts:
We updated Massachusetts Form 63D-ELT Total amount of Entity-level Tax Paid so that it automatically calculates.
Minnesota:
  • We corrected the computation for Minnesota M4I, Page 2, line 4.
  • We corrected the computation for Minnesota M4T, line 11.
Montana:
We updated the computation for Montana Schedule K-1, Part 5, line 3a so that withholding tax is not calculated when it does not apply.
New Jersey:
  • We updated the computation for New Jersey Form 329, Page 3, lines 34 and 36 so that amounts automatically populate.
  • We corrected the print for New Jersey CBT-100U, P27, Schedule 500-PA, Line 1b.
Virginia:
We updated the print for Virginia Form 500, Page 1, Question C FEIN.
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