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Enhancements

1040 Enhancements

Federal

We are adding and updating the following:
New Forms
  • Form 7217 Partner’s Report of Property Distributed by a Partnership
1040
  • Detailed estimated paid or overpayment applied in whitepaper print for federal and states.
  • Calculations for all the non-calculating forms for federal returns.
  • 1040NR Schedule P to a dual status return.
  • Support e-file for OR-TM.
  • State Credit for Tax Paid calculation to incorporate the Pass-Through Entity Tax where necessary.
Form 1116
  • Form 1116 Tax Form View to match print preview.
Form 3800
  • Updating Form 3800 for major compliance changes
Form 6765
  • Updating Form 6765 for major compliance changes.
Schedule K-1
  • A new Pass-through entity tax (PTET) credit column under
    Organizer
    Income
    Schedule K-1
    State Information
    State Allocation of Inc
    Ded
    Withholding
     on the
    Withholding
     tab.
  • The ability to allocate Other gain/loss from Form 4797 directly Part-year/nonresident states. The new input is located under
    Organizer
    Income
    Schedule K-1
    State Information
    State Allocation of Inc
    Ded
    Withholding
     on the
    Income
     tab.
  • Add the secondary activity name to the Schedule K-1 list reports. This secondary name is provided for reference purposes and is not used on the tax return.
Schedule K-1 Review
  • Re-designed Schedule K-1 Review to use fewer pages. It still contains Current year amounts and Select totals for review. Newly added are carryovers to next year reports.

States

We are adding or updating the following:
Arizona
  • SBI-211 calculation and e-file
Hawaii
  • Hawaii Form N-362, Pass-through Entity Tax Credit.
Minnesota
  • Minnesota Schedule M1RENT, Renter's Credit
Missouri
  • E-file for Missouri- St. Louis.
Minnesota
  • Schedule M1PR-SR, Special Refund.
  • Schedule M1QPEN, Qualified Public Pension Subtraction.
New York
  • IT-654 - New York City Musical and Theatrical Production Tax Credit.
Oregon
  • E-file for Oregon county Form MET-40 and MC-40.
Pennsylvania
  • E-file for Pennsylvania local BIRT and SIT.
South Carolina
  • The ability to adjust the South Carolina income/loss used in the South Carolina Form 8582 calculation on an activity by activity basis. Navigate to
    South Carolina
    , then
    Passive Activity Limitation
     to see the new Organizer.
Wisconsin
  • Wisconsin WI-2441 Additional child and dependent care credit.

This article applies to:

  • Product: ONESOURCE Income Tax Express RS
  • Return type: 1040 Individual
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