Triva isn't available right now.
Check out the support page for our phone number and hours
2023.065 release information
tip
- Get the latest on open issues by reviewing Alerts and notices.
- Review the status of 1065 federal forms.
- Review the status of 1120 federal forms.
- Go to file downloads forDK-1workbooks and other files such asForm 1042templates and1065 Partner Special Allocation ImportandClient Code Importfiles released on this release.
- Go to the Home screen,Forms Availabilityto see the availability of state releases.
Pending releases
Release date: 6/25/2024
Domestic Income Tax
Excel Add-in data import:
Download version 19.2.0 to get updated templates. This install is optional.- 1065 Schedule K New Fields added for Income Summary, Deduction Summary, Credits, Alternative Minimum Tax, and Other. See specification sheet for new DataTag requirements.
- 1065 Schedule B New Fields added. See specification sheet for new DataTag requirements.
- 1120 5472 Line 42b added. See specification sheet for new DataTag requirements.
- 1120 4562 50 Year Property import corrected. See specification sheet for new DataTag requirements.
- 1120 Illinois Adjustments Special Depreciation import corrected. See the specification sheet for new DataTag requirements.
Data Query:
Version 19.2.0We corrected the
State TI Net Operating Loss Report
for binder year 2023, values for Tax Year Generated field fixed.Enterprise Control Panel - General Information
We added 4 new screens in for 2023 and forward.
- Signing Officer
- Firm Information
- Paid Preparer Information
- Electronic Return Originator (ERO)
We’ve also just released two new templates on this release
1065 Partner Special Allocation Import
and Client Code Import
to make your importing tasks easier. These templates work with either the data connection or the tax return import method.
note
You can download all templates and files by selecting
Data imports and exports
to open the file downloads on the product main page.Excel Add-in
We resolved the following items with this release:
- 2023 1120 Form 4562 Map 50 Year Property now map and import into the Organizer.
- 2023 1120 Form 1042 field EINofQDD now imports.
- 2023 1120 IL Adjustments Map field now imports TotalDeprClaimFed4562Ln17Ln19For80PercentofProp.
1065 Partnership
Form 7205
, Energy-Efficient Commercial Buildings Deduction is pending the release of the e-file part.We released an excel template for
Form 1042
and 1042-S
. The excel template uses the Tax Return Import method and an API call to complete the import. You can download the templates for 1120 and 1065 on the File downloads page.Arkansas
We added the calculations and e-file for Form AR1100NOL. Print is still pending.
Nebraska
Form 1065XN and schedules are pending development.
Oregon
Form OR-QUP-CAT is pending for future release.
Federal
We updated various
Federal Activities
organizer screens to increase the height of non-discrete (group) data input fields.We added a checkbox on the
Depreciation Compute and Print Options Organizer
to let all depreciation assets transfer to New York City. Also, we added a note to the state depreciation asset screen, preceding the New York entry line, to alert clients to this and the New York State similar option. Note: This option already exists on the same Organizer screen for New York State.When an entry is made on
Federal Organizer/Activity Information
, Pass-Through Entity, Pass-Through Entity Activity, K-1 Line, lines 1-15 for non-portfolio short-term capital gain (loss) and/or non-portfolio long-term capital gain (loss), the data will transfer to the lines on the Pass-Through Entity schedule, Schedule D, and on Schedules K, line 11 and K-1, line 11s. These amounts will not
transfer to Schedule K and Schedule K-1, lines 8 and 9a.Arkansas
We corrected letters and filing instructions for AR1100PET.
New Jersey
We modified letters and filing instructions to prevent Form 8453-TR Signature Form from printing incorrectly.
New Mexico
We updated RPD-41359 to include additional functions for Box 4 Credit for Entity Level Tax.
Pennsylvania
We updated the ownership type code for grantor trusts on Schedules RK1 and NRK1.
1120 Corporate
We released an excel template for
Form 1042
and 1042-S
. The excel template uses the Tax Return Import method and an API call to complete the import. You can download the templates for 1120 and 1065 on the File downloads page.Maryland
We corrected the calculation for Form 510, Schedule K-1, Section D, line 1.
We corrected the calculation for Form 510, line 19 so that it matches Form 500UP, line 13.
Nebraska
We added print for the 1120N-ES, C and S Corp selections.
International
The following items are new on this release:
Form 5471, 8858 and 8865 Organizer Options to Turn Off Transfers from International Computes
note
Prior to executing the transfer to forms, it is essential to determine your filing approach for Form 5471 Schedules I and P. Specifically, you must decide whether to file by Shareholder or Summary. To configure this setting, navigate to the Enterprise Control Panel and access the Organizer INTL Transfer Options. Within this module, select the preferred filing approach by enabling or disabling the corresponding options. For instance, if you intend to file Schedule I by Shareholder, ensure the "Yes/On" box is checked for this option, and conversely, select "No/Off" for the Summary approach. This step is crucial to ensure accurate and compliant filing.
The
International Compute > Transfer
to US5471, US8865 and US8858
function sends details directly to the main pages of Forms 5471, 8865, and 8858 Organizer (as opposed to the less visible screens used for the Income Statement and Balance Sheet) for various schedules. By default, the checkboxes for these transfers are not marked, allowing for the transfer to take place:- Form 5471 Schedule E
- Form 5471 Schedule E-1
- Form 5471 Schedule G
- Form 5471 Schedule H
- Form 5471 Schedule I (defaults to checked, no transfer)
- Form 5471 Schedule I by Shareholder
- Form 5471 Schedule I-1
- Form 5471 Schedule J
- Form 5471 Schedule M
- Form 5471 Schedule P (defaults to checked, no transfer)
- Form 5471 Schedule P by Shareholder
- Form 5471 Schedule Q
- Form 5471 Schedule R
- Form 5471/Form 8990 (defaults to checked for tax year 2022; defaults to unchecked for tax year 2023 and later)
- Form 8858 Schedule H (959(b) Dividends and Return of Capital)
- Form 8858 Schedule J
- Form 8865 Schedule K-2, Part II, Sections 1 and 2
- Form 8865 Schedule K-2, Part III, Section 1
- Form 8865 Schedule K-2, Part III, Section 4, Line 1
- Form 8865 Schedule K-2, Part V
Prior to importing new data, the International Compute will clear out all prior information from the specified schedules. To preserve manual adjustments made in Organizer, you should choose the relevant option(s) within the
INTL Transfer Options
section under the Foreign Corporation (5471), Foreign Partnership (8865)
, and FDE
and FB (8858)
categories. Neglecting to select the individual options will cause any changes made in Organizer to be lost, even if the fields are locked, the next time you run the International Compute > Transfer to US5471, US8865, US8858
for that project.New Entity Role Field Available in the Form 8975 Schedule A Workpaper Imports for Tax Year 2023
You can now import the new Entity Role to both individual and top-level consolidated Form 8975 Schedule A Workpapers. Import data on the
Additional Entities
tab in Consolidated Form 8975 Schedule A Workpaper
from the main consolidation binder screen. Use Reference ID
, Form 8975 IDs,
Entity Role
, and Number of Employees
for batch importing into individual binders’ Schedule A workpaper. The Entity Role field is optional for tax years 2023 and beyond with acceptable values being CBC801, CBC802, and CBC803. If there's no data during an import with a mapped Entity Role, the existing workpaper data remains unchanged.Transfer to US8975 Available in Tax Year 2023 Binders
Starting with the 2023 tax year, you can move to
Form 8975
directly from the International Compute screen within a top consolidation entity binder. From the 2022 tax year onward, we added a new checkbox for Form 8975 Schedule A
in the Top Consolidation binder (navigate through Organizer ). Selecting this box means that selecting International Compute > Transfer to US8975
will not make changes to the Country-by-Country
section in the Organizer.New Section 163(j) Reports to Identify Form 8990 Line 13 Adjustment by U.S. Shareholder for CFC Specified Deemed Inclusions
Starting from the tax year 2023 onward, there are two new reports designed to assist a U.S. Shareholder in determining the adjustments they need to report on
Line 13 - Other Additions
of their Form 8990 to account for the effects of Controlled Foreign Corporation (CFC) excess taxable income on certain deemed inclusions. These reports are titled Section 163(j) U.S. Shareholder’s Addition to Tentative Taxable Income and Section 163(j) Consolidated U.S. Shareholder’s Addition to Tentative Taxable Income, and can be located within the directory.The
Section 163(j) U.S. Shareholder’s Addition to Tentative Taxable Income Report
is created per U.S. Shareholder, detailing the calculation steps. It draws data from both the Section 163(j) Group Member Detail and Foreign Income Inclusion reports, showing every foreign entity with a deemed inclusion in separate columns. The aggregate addition for Specified Deemed Inclusions in the Total column is to be recorded as an adjustment on line 13 of the US entity's Form 8990.Section 163(j) U.S. Shareholder’s Addition to Tentative Taxable Income Report
REPORT ROW | POPULATION |
|---|---|
163(j) Information | N/A |
Group Member / Stand-Alone | Section 163(j) Groupings Report | Final Specified Parent / Stand-alone Column |
Specified Parent | Section 163(j) Groupings Report | Final Specified Parent / Stand-alone Column |
Safe Harbor Elected | Stand Alone Entity / CFC whose Specified Parent is a CFC : Section 163(j) Group Member Detail Report | SAFE HARBOR ELECTION | Safe Harbor Elected (Yes/No) CFC whose Specified Parent is the U.S. Specified Parent : CFC's Section 163(j) Business Interest Expense Workpaper | Safe Harbor Tab. (Yes/No) |
Last Subpart F Calculation | Section 163(j) Group Member Detail Report | Last Subpart F Calculation |
Excess Taxable Income Ratio | N/A |
Applicable CFC's Excess Taxable Income | Section 163(j) Group Member Detail Report | Excess Taxable Income |
Applicable CFC's Adjusted Taxable Income | Section 163(j) Group Member Detail Report | Adjusted Taxable Income (Line No. 22) |
ETI/ATI Ratio | Calculation : Applicable CFC's Excess TI / Applicable CFC's Adjusted TI - round to 9. If less than 0%, 0%, if greater than 100%, 100% |
Ownership % | Agrees to the Subpart F Deemed Distribution Report | Subpart F % (US Shareholder Overrides in the CFC Overrides screen will be included) |
U.S. Shareholder ETI/ATI Ratio | Calculation : ETI/ATI Ratio x Ownership %, rounded to 9 |
Specified Deemed Inclusions | N/A |
GILTI Amount | Income Inclusion Report | Total Column for GILTI Inclusions |
Subpart F Amount | Income Inclusion Report | Total Column for Subpart F Inclusions |
Total Specified Deemed Inclusions | Calculation : Sum of GILTI Amount and Subpart F Amount |
Total Addition related to Specified Deemed Inclusions | Calculation : If Safe Harbor is elected, 0. If Safe Harbor not elected, U.S. Shareholder ETI/ATI Ratio * Total Specified Deemed Inclusions |
The the Total Addition related to Specified Deemed Inclusions on the prior report by U.S. Shareholder (columns) and CFC (rows).
Section 163(j) Consolidated U.S. Shareholder’s Addition to Tentative Taxable Income Report
presentsREPORT ITEM | POPULATION |
|---|---|
Columns: U.S. Shareholder | U.S. Shareholders appear as columns provided that: - The entity is an affiliated member of the consolidated group AND - The entity has an Addition to Tentative Taxable Income per the Section 1463(j) U.S. Shareholder's Addition to Tentative Taxable Income report. |
Rows: Controlled Foreign Corporations | CFC appear as columns if it has an Addition to Tentative Taxable Income per the Section 163(j) U.S. Shareholder's Addition to Tentative Taxable Income report for at least one affiliated U.S. Shareholder. |
Amounts | Amounts for each CFC/U.S. Shareholder agree to Section 163(j) U.S. Shareholder's Addition to Tentative Taxable Income | Total Addition related to Specified Deemed Inclusions. |
Total (Row) | Sum of all Additions for a specific U.S. Shareholder. Should agree to the Total Column of the U.S. Shareholder's Section 163(j) U.S. Shareholder's Addition to Tentative Taxable Income | Total Addition related to Specified Deemed Inclusions. |
Total (Column) | Sum of all Additions related to a specific CFC. |
Section 163(j) Safe Harbor Election Import for Tax Years 2023 and Later
Version 2023.055 introduced a new
Safe Harbor Election
tab in the Section 163(j) Business Interest Expense workpaper in a tax year 2023 foreign entity binder. In the current release, a new Section 163(j) Safe Harbor Election
import is available from Batch > Batch Process
. All fields must be mapped in the template. A zero will remove an existing value while a blank will leave the existing value in place.Column | Data Validation |
|---|---|
Entity Number | Required
|
Safe Harbor Election | Required
|
Section 951(a)(1)(A) Amount | Required
|
Section 951(A)(a) Amount | Required
|
Section 250 Deduction Amount | Required
|
Section 245A Deduction Amount | Required
|
New ONESOURCE API Features for International Users
The 2023.065 release includes the new APIs to support the retrieval and update of the following information for tax years 2018 and later: (Navigation:
- GET /v1/binders/{binderId}/international-source-codes
- GET /v1/binders/{binderId}/international-apportionment-base-codes
- GET /v1/binders/{binderId}/international-activity-countries
- GET /v1/binders/{binderId}/international-sourcing-account-types
- GET /v1/binders/{binderId}/international-income-sourcings
- POST /v1/binders/{binderId}/international-income-sourcings
- POST /v1/binders/{binderId}/international-income-sourcings-resets