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1041 Fiduciary 24-5.7F
tip
- Get the latest on open issues by reviewing Alerts and notices.
- Review the status of federal forms.
- Find the availability of the state releases in the Home screen, in Forms Availability.
- New York: There is an informational diagnostic to alert preparers to a possible rollover issue with prior year estimates paid in the current year. Verify that the amount rolled over from prior year estimates paid in the current year doesn’t include a 2022 overpayment from the 2023 return. Use this query for 2023 1041 to identify potentially affected returns.For the 2024 return, go to Organizer, select. In the Estimated Tax section, enter the correct amount for theStatesNew York PaymentsPrior Year Estimates Paidin the current year.
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.
note
E-file for Form 5471 is not 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