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Release notes

1040 Individual 24-3.4F

note
  • Get the latest on open issues by reviewing Alerts and notices.
  • Find availability of state releases in the Home screen,
    Forms Availability
    .
  • Find
    Data imports and exports
     files added on this release and other import files on the main product page.

Pending releases

Release date: 02/28/2025
We created a new
Federal and State Estimated Tax and Extension Payment Report
 for the current year. You can find it in Organizer and select
General Information, Return and Print Options, Basic Options
.
We updated the
Employee SSN
 field so that it only populates if the ownership is selected as either
Taxpayer
 or
Spouse
.
Form 4136
 will require the FTC computation statement attached as a PDF to e-file. See the IRS instructions for additional information.
Federal forms not available:
  • Form 1045
  • Form 3468
  • Form 6765
  • Form 7207
  • Form 7210
  • Form 7213
  • Form 7217
  • Form 8582-CR
  • Form 8835
  • SRJD
Form 3800
 is released with the following limitations.
  • The columns for
    applied against tax
     and
    carryover to next year
     won’t populate. Override as needed.
  • For facility credits are not taken into account any transfer or EPE registration numbers. This will be updated on a future release to pull in on a facility by facility basis instead of a summary basis
  • Part VI won’t e-file at this time. A binary attachment is required until the IRS updates their schema. This information was found on the IRS Known Issues and Solutions website.
  • Credit utilization is not released yet, it will be available on a future release
  • Calculation carryover revision: For 2025 we are pulling in prior year suspended losses into parts IV and VI from Form 8582-CR. The carryover schedules will only be used for non-passive carryovers. If your carryover schedules include passive numbers from the prior year that are covered by Form 8582-CR prior year-suspended losses, you will need to make an adjustment so the amount is not double counted.
  • There is a hyperlink on top of pages 3-9 that will take you to workpapers where you can override for parts V and VI.
    • If there is a single row on the grid, the credit won’t print on parts V and VI (instead it goes directly to parts III or IV)
    • If you add a line be sure to include the Line Number since it's the line number field that determines if data transfers to parts V and VI or straight to parts III and IV.
State forms currently under development:
  • California LLC
  • Iowa Schedule CC
  • Montana, Credit for Income Taxes Paid to Another State or Country and the Annualized Income Installment Method
  • Nebraska Forms CDN, 1040XN, Form NOL, and 3800N
  • Oklahoma, Forms 511-EIC, 500-A, 500-B, 561, and 561-NR
  • Oregon Counties, Form PIT-V and Filing instructions for OR-TM, Metro SHS and MultCo Preschool
Connecticut
: Added the Pension and Annuity Worksheet for CT 1040 and CT 1040NR/PY.
Ohio Columbus
: E-file is now available for returns that only contain W-2's.
Georgia
: The state hasn’t released Form 500-X for e-filing. It will be available in a future release.
Pennsylvania
: Rev-414(I) Estimated tax payment worksheet hasn’t been released.
Pennsylvania locality
: Berkheimer quarterly estimated tax payment vouchers haven’t been released.

Federal

We updated or addressed the following:
Schedule A
 : Resolved an issue where Line 5a detail statement print was not including cities/localities in the total.
Form 1116
 : The carryover amounts for tax years 2022 and 2023 for passive income are incorrect on the Foreign Tax Credit Carryover to Next Year worksheet.
Form 4562
: Corrected an issue where MACRS assets placed in service in the current year did not print the convention on page 1, Part III.
Form 5329
: We have an issue where Part IX, Tax on excess accumulation is not properly populating amounts from the Organizer resulting in an incorrect line 54 calculation.
K-1 Transfer from 1065 and 1120-S
: Updated this to transfer amounts from other GoSystem entities. It will also transfer detail information into other portfolio income, other income, and other deductions.

State

We updated or addressed the following:
  • California
    : Form 3461 subtraction adjustment to Schedule CA, line 8z.
  • Colorado
    : Updated lines 62 and 63 on the DR 104CR form.
  • Indiana
    : Updated the payments calculation on Form 8879 Part II, line 9.
  • Michigan Cities
    : Completes and makes available the common form cities - Form CF-1040 and its attachment schedules.
  • Minnesota
    : Resolved the efile issue where M1 line 7 must equal the sum of M1M line 35 and M1MB line 21.
  • Mississippi
    : Updated payment dates update.
  • New Jersey
    : Updated the NRA literal code to generate correctly for e-file.
  • Ohio
    : Resolved the issue where Ohio estimate filing instructions print when estimates are marked to suppress compute and suppress print.
  • Oregon
    : Corrected the NRA code for spouse to generate correctly in e-file.
  • Vermont
    : Fixed the due dates that fall on weekends (2nd & 3rd quarter) for IN-152.
  • West Virginia
    : Updated the tax rates on Form IT-210.

This article applies to:

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

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