1040 Individual 25-5.5F
The following information is a summary of the new forms, features, and resolved issues on this release.
Open
- Form 4562: New depreciation calculations for 50 year MACRS and ADS are not yet completed
- Form 4562: Support for Section 174 changes as part of the 2025 OBBBA legislation are still under development
- Form 8821: Print for this form is still under development
- Form 8824: The new elements added for e-file are under development.
- Form 1040-SS: Letters and Filing Instructions and E-file of this form are still under development.
- CA - Form 3541 is still under development.
- TN - Binary Attachments are currently under development.
Federal
We updated or addressed the following:
- Schedule E - We resolved an issue that caused Schedule E other expenses and total other business expenses calculateed incorrectly.
- Form 3520 - We have updated the calculation on line 49 to match group alignment in corresponding 4970.
- Form 8938 - We have updated the calculation on Part IV Line 19 to only include 8865's that have checkbox selected in Foreign Pship organizer.
- Form 8962: We have updated where advanced premium tax credit received is not flowing correctly to Form 8962 line 12-23 in the payback situation.
- Form NOL CARRYOVER workpaper carryover calculation - We resolved an issue where the NOL limiting value from Schedule 1 Line 8a does not calculate if the carryover value line 8 on the workpaper is less.
- Form 8027: We have updated the print for Line 6.
State
We updated or addressed the following:
- CA - We have solved the issue where the Sch D-1 (AMT), Line 2, Col g - Sec 1231 Loss from Pass-through K-1 being doubled.
- NE - We have updated the Form 2210N Line 2 to include the PTET credit calculation from the 1040N Line 39.
- New York IT-398: We have solved an issue where assets taking Section 179 but not Bonus is flowing to IT-398 line 1.
- OR County - We have updated the print for Form SP page 1 tax year.
- OR County - We have updated the filing instruction for the PIT-V tax program indicator.
