You can now hide the columns By Account TRC and TCC in the
Working Trial Balance
(WTB). In
WTB
,
Settings Options
, there are 2 new optional columns:
TRC (By Account View)
TCC (By Account View)
By default, these options are selected. The TRC and/or TCC columns will display, export, and print with the WTB - By Account view. If these options are not selected, TRC and/or TCC columns won’t display, export, or print with the WTB - By Account view. These option selections will be saved for you.
Data Query-Reporting/Odata
We added new reports when you select
Tax Return
Partnership
Federal
. Then select one of the following:
Schedule M-3
Schedule M-3 w/member detail
General information with member detail
The XML e-file refreshes overnight, not manually.
E-File|New Diagnostics Tab
A new tab has been added to the e-file screen labeled
Diagnostic
. This tab is available for 2024 and forward and shows a list of all returns that have an e-file created for them. It also shows you the following information:
Validation Errors:
Displays with a link to the Diagnostic screen in Organizer.
Number of PDFs:
Displays the number of PDF attachments for the jurisdictions.
Created Date:
Displays the e-file created date in Organizer.
Export Option:
Exports the data displayed in the grid into .xlsx file format.
Settings Option
: Settings option hides and unhide the columns on the grid.
We updated or addressed the following:
We resolved an issue where Data Hub imports done from inside the
Binder Balances
screen couldn’t be successfully completed when the Data Hub Collection has both Beginning and Ending Balances in the Aggregation Logic.
We resolved an issue where Data Hub imports done from inside the
Batch Process
screen couldn’t be successfully completed when the Data Hub Collection has both Beginning and Ending Balances in the Aggregation Logic.
All Charts of Adjustments now open from the Adjustment chart dropdown.
The issue where creating new State A&A Forms Cross Reference charts by copying from the default chart is now resolved.
1065 partnership
We updated or addressed the following:
Federal
Form 1042
: Added a temporary timestamp override to the form.
Schedule F
: Added aa smaller print font.
State
We updated or addressed the following:
Alabama:
Updated alternative signature print when ERO is not the paid preparer.
Arkansas:
Added AR1099PT e-file suppression.
Colorado:
Modified K-1 SALT checkbox logic.
Maryland:
Added Form 511 Page 2 line 17 overpayment calculation.
Updated Form 510D dates to 2025.
Massachusetts:
Updated alternative signature print when ERO is not the paid preparer.
Michigan Cities:
Lengthened K-1 package print bookmarks to 70 characters.
Missouri:
Added Form 5889 and PTE-BD.
Corrected Kansas City extension direct debit e-file schema.
New Jersey:
Added NJ-CBT estimated payment information to the e-file browser screen.
New Mexico:
Masked SSN/EIN on Schedule PTE-D.
North Carolina:
Corrected NC429B-PTE organizer fields for date paid.
Ohio:
Added IT K-1 line 9 film and theater credit to the e-file.
Pennsylvania:
Corrected PA-65 Page 2 Section VII line 7 statement print.
South Carolina:
Added estimated payment detail to the e-file browser screen.
1120 corporate
We updated or addressed the following:
Colorado
:
Corrected the print for Colorado Form DR 1370 when it's turned on in Organizer.
Updated the computation for Colorado Form 112, Page 2, line 16a so there is a blank when no NOLs are entered before 2018.
District of Columbia
: We corrected print for District of Columbia Form D20 Combined Schedules where more than 2 entities are in the consolidation.
Kentucky Cities
: Corrected Louisville Rule 13 047: Taxable income (OL-3, line 9) is not equal to Federal Form 1120, line 30 or Federal Form 1120S, line 22 so it triggers.
Maine
:
Updated the field entity for Maine Form 1120EXT-ME Extension Voucher Corporation Name, Address, and Print.
Updated Maine Form Schedule 3P, lines 15 and 17.
Minnesota
:
Corrected Minnesota M4T, line 16.
Updated the rule for Minnesota M4-0410-1: M4, line 1 must equal the sum of all M4T, line 27.
Montana
: Updated for Montana CIT, Page 13, Print 2023.
Nebraska
:
Corrected Nebraska 2220N reject Code F2220N-0001, so it's valid.
Corrected the computation for Nebraska NOL Worksheet, NOL Carryforward so it totals properly.
North Carolina
: Updated North Carolina Form CD-429 PTE Est, line 10.
Form 5471, 8858 and 8865 Organizer Options to Turn Off Transfers from International Computes
important
After rolling your foreign entity binders to the new tax year and before running transfer to the forms, determine if you plan to file Form 5471 Schedules I & P by Shareholder, or Summary and use Enterprise Control Panel, then Organizer INTL Transfer Options to block transfer to the alternate approach. (For example, if filing Schedule I by Summary, check the Yes/On field for the Schedule I by Shareholder option and No/Off for Schedule I).
The
International Compute > Transfer to US5471, US8865, and US8858
transfers information directly to the face of Form 5471, 8865 and 8858 Organizer pages (rather than hidden screens as is the case for the Income Statement and Balance Sheet) for the following schedules – unless otherwise stated, the transfer checkboxes following default to unchecked, permitting transfer:
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
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
Before transferring new results, the International Compute will delete all existing information in the noted schedules. If you enter manual overrides in Organizer, you'll need to check the appropriate on the
INTL Transfer Options
pages within the Foreign Corporation (5471), Foreign Partnership (8865) and FDE and FB (8858) navigation tree to prevent additional transfers to the schedule from International Computes. If you don't check the individual fields, you'll lose any Organizer overrides (even if the Organizer field is locked) when you next run the
International Compute \ Transfer to US5471, US8865, US8858
for the binder.
Transfer to US1118, US8975, US8992, and US8993 available in tax year 2024 Binders
You can now transfer Form 1118, 8985, 8992 and 8993 information from the
International Computes
screen in a 2024 tax year top consolidation binder. The 2024.045 release enables transfer for the following schedules:
Form 1118
Schedule A: Income or (Loss) Before Adjustments
Schedule B Part I: Foreign Taxes Paid, Accrued, and Deemed Paid
Schedule C: Tax Deemed Paid with Respect to Section 951(a)(1) Inclusions
Schedule D: Tax Deemed Paid with Respect to Section 951A Income
Schedule E, Part I: Tax Deemed Paid with Respect to Previously Taxed E&P (PTEP)
Schedule G: Reductions of Taxes Paid, Accrued, or Deemed Paid
Schedule H: Apportionment of Certain Deductions
Schedule I: Reduction of Foreign Oil and Gas Taxes
Schedule J: Adjustments to Separate Limitation Income (Loss), Categories for Determining Numerators of Limitation Fractions, Year End Recharacterization Balances, and Overall Foreign and Domestic Loss Account Balances
Schedule A: Tax Jurisdiction and Constituent Entity Information
Form 8992
Schedule B: Calculation of Global Intangible Low-Taxed Income (GILTI) for Members of a U.S. Consolidated Group Who Are U.S. Shareholders of a CFC
Form 8993: Section 250 Deduction for Foreign-Derived Intangible Income (FDII) and Global Intangible Low-Taxed Income (GILTI)
Transfer to US5471 Schedule Q Available in Tax Year 2024 Binders
For tax year 2024, Schedule Q now lets data entry in line 4 (Residual Income Group) Column XV (Loss Allocation). When there are loss allocation amounts related to high tax excluded Subpart F income, ONESOURCE reports the information as follows:
The 952(c)(1)(A) limitation is reported in column XV (Loss Allocation) by Subpart F Income Group/Tested Unit.
For a high tax group, the loss allocation stays in column XV and is reported in the Residual Income/Total line.
note
This is a change from prior years when the portion of the loss allocation that was high tax was included in column VII (Other Expenses).
With these changes in place, we enabled transfer to Form 5471 Schedule Q from the
International Computes
screen in a 2024 tax year top consolidation and foreign entity binder.
We updated or addressed the following:
When filing
Form 5471 Schedule I by Shareholder
, International Computes now transfer values to line 1h if that's the only line with Subpart F income (such as when all Subpart F income is generated because of Subpart F recapture).
Account types 4810 (Withholding Tax on Rent), 4820 (Withholding Tax on Royalties) and 4830 (Withholding Tax on Interest) are now included in the calculation of the blended rate for the
Section 951A GILTI High Tax Exception Report
to translate the Foreign Income Taxes Paid (FC) to U.S. Dollars. The translation rate should be a blended rate calculated based on the Current Year Taxes Paid or Accrued.
When a foreign entity has a tax year end that differs from the top consolidation (such as for a short period), the E&P by Source Code - After Look Thru, E&P by Source Code – After Dividend Look Thru, E&P by Basket – After Dividend Look Thru and E&P Pools Detail Report now shows the top consolidation binder’s year end in the foreign entity’s year end.
For tax year 2019 and later, the
Previously Taxed Income (Post-86) data entry report
now displays the specific tax year to which the previously taxed E&P relates.