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Release notes

1041 Fiduciary 24-6.3F

tip
  • Get the latest on open issues by reviewing Alerts and notices.
  • 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
    States
    New York Payments
    . In the Estimated Tax section, enter the correct amount for the
    Prior Year Estimates Paid
     in the current year.

Pending releases

Release date: 08/15/2025
We added Form 8933, Carbon Oxide Sequestration Credit.
Form 2220, Updated the IRA due date to 4/15 and added Workpapers to show penalty computation for each Quarter to be consistent with other 990T forms.
Federal forms not available on this release:
  • Form 7211, Clean Electricity Production Credit
  • Form 7218, Clean Fuel Production Credit
Electronic filing
 for Form 1042, 1042-S and Schedule Q is not available for 2024.

Federal

We updated or corrected the following:
  • Corrected an issue that sometimes causes the basis subtotal to not print on the
    Form 4562
     detail statement. This is only a cosmetic issue.
  • Corrected the computation of other adjustment on beneficiary Statement A.

State

We updated or corrected the following:
California:
 Corrected the ESBT calculation for other portfolio income.
Indiana:
 Added data dictionary for Indiana Schedule NOL-MOD.
Ohio:
 Corrected the Ohio IT-RTCE printing for estates but not trusts.
Viginia:
Updated the interest and penalty option to accommodate Business Rule 770-220.

This article applies to:

  • PRODUCT: ONESOURCE Income Tax Express RS
  • Return type: 1041 Fiduciary

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