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Search Income Tax (ONESOURCE) Help and Support.

This article applies to:

  • Product: ONESOURCE Income Tax
  • Return type: 1120 Corporation,1065 Partnership

2025.055 release information

The following features, forms, and issues are on the release available on 5/22/2026.

1120

Closed Federal Issues:
Form 1118:
  • We updated Form 1118, Sch L print to single year reporting for Parts I and II.
Form 8865:
  • We revised Form 8865, Form 8825, line 2a computation to exclude line 2b.
Form 8978:
  • We added Form 8978, Sch A to the e-file.
Closed State Issues:
Michigan:
  • We added navigation items for Michigan Form MI-1041ES.
Missouri:
  • We corrected Form MO-7004 amount printing.
  • We corrected Form MO-NRS, line 12b in XML.
  • We corrected the Missouri Composite Individual Return by Shareholder, line 12, federal Schedule K-1 column.
New Jersey:
  • We modified New Jersey Depreciation Detail for Schedule S.
  • We updated New Jersey Form CBT-100U, Page 10, Schedule A, Surtax Lines 5 and 7.
  • We updated New Jersey Form CBT-100, Page 13, Form 500, Line 10.
Oregon:
  • We revised Oregon Form OR-OC-1 Tax Rate Charts.

1065

Closed Federal Issues:
Form 1125-A:
  • Added inventoriable costs paid detail grids to the consolidations function.
Form 5471:
  • Added CFC 8990 and a safe harbor election.
Form 8865:
  • Updated Form 8825, line 2a computation to not include line 2b.
Closed State Issues:
Arizona:
  • Updated Form 165, page 4, Schedule E to use effective ratios.
  • Added "NONE" to the print presentation for K-1 / NR forms.
Arkansas:
  • Removed guaranteed payment from Form AR1050, page 3, line 19.
  • Form AR1050, page 3, line 19 to no longer include guaranteed payments.
  • Updated Form AR1050, page 2, Part II, lines 3d and 3e.
Colorado:
  • Updated Schedule K-1, column B.
Connecticut:
  • Updated print conditions for Form CT-PET filing instructions.
Idaho:
  • Corrected print alignment for the total on Form Sch 42, Part I.
Illinois:
  • Enhanced Form IL-1065-X-V Payment Voucher.
  • Added a whitepaper print for IL-2220, page 3, line 21.
Kansas:
  • Corrected print alignment for K-120S, page 5 detail for consolidated returns.
Kentucky:
  • Re-aligned print on PTE Schedule K-1, Page 1.
  • Added the Louisville Quarterly Net Profit Deposit Form OL-3-D.
Massachusetts:
  • Updated Form 3K-1 to include nonresidents.
Nebraska:
  • Added missing credits to Sch K-1N, line 21.
Vermont:
  • Resolved an issue where Federal Overrides SA Codes showed as invalid.
  • Updated the Organizer grid for Form BI-477, Part IV, page 2, line 23, column B.
West Virginia:
  • Corrected the Line 21 calculation on Form PTE-100, Form PTE100TC.

New for this release

State TI
  • Oklahoma - State TI Cross reference has been updated to include the following missing lines:
    • Part 2, Line 2(a) – Add-back duplicated federal depreciation.
    • Part 2, Line 2(b) – Subtract Oklahoma bonus depreciation.
  • Rhode Island – State TI Forms Mapping has been updated to include the following:
    • Schedule B, line 1f – data entry field was removed.
    • Schedule B, line 1g – data entry field was added.
API
  • API POST Efile Comparison: This POST endpoint returns Efile XML field comparison between two binders. API consumers can retrieve this information by specifying the Binder Id, Compare Binder Id, Juridiction Id, Efile Type Id.

Open Issues

Excel Add-in Data Import
  • Error occurs for certain users during Registration. Go to Platform | Administration and disable the user's login, save, and then reenable the user. After this is done, try registering again from the Excel Add-in.
  • SSO Users will all need to enter their 4-digit Account Number in ALL CAPS within Settings | Income Tax and Estimated Payments tab before Registration.
  • Version 21.1.0 - 1065 4562 Maps are not validating properly. Please revert back to Version 21.0.0. This will be corrected with another build Version 21.1.1.
  • 2025 1065 4562 Fields for 50yr property will be added in a future release.

Closed Issues

Tax Accounting System
  • The following screens have been updated to handle Charts with leading or trailing spaces or extra spaces in the middle of the chart name:
    • Binder Properties
    • Chart of Adjustments
    • Schedule M-3 Line Mapping
    • Federal Adjustment Workpaper
    • Federal Chart of Accounts Cross Reference
    • Federal Tax Adjustment Cross Reference
    • Transfer from Provision
    • Partnership K-1 Mapping
State A&A All State Totals
 – corrected to include amounts transferred from Partnerships.
State TI
  • New Mexico – State TI Forms Mapping has been updated to remove former line: CIT-1, ln 08 - Deduction for foreign dividends/Subpart F inclusions derived from hybrid dividends.
  • New Hampshire - State TI adjustment entered in the organizer is now correctly populating line 11d of the combined tax return form.
  • Oklahoma – The State TI forms mapping Line cc has been corrected to reflect line 3c.

Data Query-Reporting/Odata

New for This Release:
  • Data Query Reporting –
     New report State Taxes with Member Detail.
    • Consolidation expansion also available in OData.
Open Issues:
  • e-file XML report
     – displays fields/forms with null values. Filter fields with Null values to minimize the size of the report prior to Download.
  • OData – Registration
     Error occurs for certain users during Registration. Go to Platform | Administration and disable the user's login, save, and then reenable the user. After this is done, try registering again from Excel.
  • Data Query Reporting – Permissions to Data Refresh:
     If users cannot submit after the permission is assigned, toggle it off and on.
    1. Navigate to User Administration.
    2. Select Edit for the user.
    3. Go to Data Query – Reporting - Uncheck the Data Refresh permission.
    4. Click Next until you go to the last step to save.
    5. Repeat steps 1-3.
    6. Check Data Refresh.
    7. Click Next until you go to the last step to save.
Closed Issues:
  • Data Query Reporting – default file type is TXT, this will be updated to CSV in a future release.
  • e-file XML report – missing dates.

Workpapers NG

New for This Release
  • Build number included in the Login page.
  • Options added in task pane:
    • Hide unmapped fields.
    • Remove mapped fields.
  • Identifiers Enhanced:
    • Ability to map a Global Identifier per Worksheet using Entity Number / Binder Combo to SET/GET without repeating Entity Numbers for nongroup and group fields.
    • Users can now create templates that resemble a particular Organizer screen (ex 4562).
    • Consolidated Entity Name + Binder Name identifier added to GET / SET into a group of members assigned to a consolidated binder.
    • Binder Group & Consolidated Entity – wildcard GET capability added. Use an * to GET all mapped fields for members included in a Binder Group or Consolidated Binder.
Open Issues
  • Task Pane load blank – right click and select Refresh to reload if it is showing blank.
  • SET/GET not available for:
    • Organizer/Gains and Losses/Disposition of Property/Disposition Detail/Create Dispositions of Property.
    • Organizer/Gains and Losses/Capital Gains and Losses/Columnar Gains Entry.
    • Organizer/Gains and Losses/Capital Gains and Losses/Capital Assets Sale Detail.

Income Tax International

New for This Release
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 > Organizer INTL Transfer Options to block transfer to the alternate approach. (For example, if filing Schedule I by Shareholder, check the Yes/On box for the Schedule I by Shareholder option and No/Off for Schedule I.)
The International Compute > Transfer to US5471, US8865 and US8858 transfer 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 below 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 (defaults to unchecked, transfer occurs)
  • 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 schedules noted. If manual overrides are entered in Organizer, you must check the appropriate option(s) 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. Failure to check the individual boxes will result in the loss of 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.
Screen Updates to the New Look and Feel
The following screens have been updated to the new ONESOURCE Income Tax look and feel:
  • Binders
    • Foreign & FTC > Section 987 Pool Translation Options
    • Top Con > Entity Apportionment Bases
    • Top Con > Related Person Debt (2009-)
New Form 8990 for FTC Specified Parent Group for Tax Years 2025 and Later
In addition to filing the Form 8990 for each CFC member, a separate instance of the 8990 is filed for the CFC and the U.S. Shareholder that are the specified group parents when the grouping method is used for Section 163(j) (FTC Defaults > CFC Group Election checkbox). ONESOURCE Income Tax International automatically populates the Form 8990 for the CFC members and CFC specified group parents during International Compute > Transfer to US5471, US8858 and US8865.
Starting with the 2025.055 release, a new instance of the 8990 is available in an FTC top consolidation binder for the U.S. specified group parent under the following Organizer path: Informational Forms > Limitation on business interest expense > Specified Group Parent > 163(j) Interest Expense Limitation. Refer to the Subpart F > Section 163(j) Group Member Detail Report for the amounts to enter in the Organizer. We expect to automate the transfer to the U.S. specified group parent instance of the Form 8990 in a future year.
Modified Gross Income (MGI) Method for Foreign Entity Interest Expense Apportionment for Tax Years 2025 and Later
As part of the 2025.045 release, a new Use MGI during Subpart F Computations checkbox has been introduced on the FTC Defaults screen, available for tax years 2025 and forward. When this option is enabled, the system will apply updated Subpart F compute logic that incorporates a Modified Gross Income (MGI) adjustment into foreign entity interest expense apportionment calculations.
When the checkbox is selected, the system references the top consolidation's international organizational structure to calculate a gross income modifier for each foreign entity that uses the Gross Income method for interest apportionment, as designated on the Binder Properties > International tab. For any foreign entity with intercompany interest expense, this MGI adjustment will be reflected in apportionment bases 511 (Gross Income – Look-Thru Interest), 512 (Gross Income – Excess Related Person Interest), and 513 (Gross Income – ex. Passive Related Person Interest).
The MGI adjustment flows up the ownership chain on a pro-rata basis, according to ownership percentage, from lower-tier entities to their direct foreign owners. This continues up through the structure until reaching the first-tier foreign entities. It is worth noting that for divisional consolidations where intercompany transactions are processed at the division level, the MGI adjustment impacts interest expense apportionment at that level; however, the construction of the division bases 511, 512, and 513 and the attribution of legal entity results to members remains unchanged.
A new Subpart F report, Modified Gross Income for Interest Expense Apportionment, has been added. This report provides a detailed walkthrough of each entity's gross income adjustment and the amounts flowing into the direct owners' apportionment bases.
Line Number
Description
Source
1
Gross Income
E&P by Source Code after Dividend Look Through > Total Gross Income
2
Less Dividends Received from Directly Owned Lower Tier
E&P by Source Code after Dividend Look Through > All intercompany dividend income (listed by foreign entity)
3
Less Rent Received from Directly Owned Lower Tier
E&P by Source Code after Dividend Look Through > Only intercompany rental income received from lower tiers (listed by foreign entity)
4
Less Royalty Received from Directly Owned Lower Tier
E&P by Source Code after Dividend Look Through > Only intercompany royalty income received from lower tiers (listed by foreign entity)
5
Pro Rata Share of Subsidiary Gross Income
Lower tier entities' Modified Gross Income for Interest Expense Apportionment Reports > Gross Income to be included by Direct Owners (Translated to Owner's Functional Currency) (listed by lower tier foreign entity)
6
Modified Gross Income for Interest Expense Apportionment
Formula: line 1 – line 2 – line 3 – line 4 + line 5
Apportionment Audit Trail Details:
7
Amounts Specifically Allocated to Passive, Subpart F Source Codes
E&P by Source Code after Dividend Look Through Report > Expense account amounts directly allocated to passive, subpart F source codes
8
Apportioned Amounts Considered Specifically Allocated to Passive Subpart F Source Codes (1-54, 8000, 101-154)
E&P by Source Code after Dividend Look Through Report > Expense accounts using bases noted with amounts apportioned to passive, subpart F source codes
9
Base 511 - Gross Income (Look-Thru Interest)
Formula: Passive, subpart F source code amounts on line 6 – line 7 – line 8
10
Base 512 - Gross Income (Excess Related Person Interest)
Formula: Amounts on line 6 that are not passive, subpart F source codes
11
Base 513 - Gross Income (ex. Passive Rel Person Interest)
Formula: Amounts on line 9 - interest expense apportioned on base 511 + amounts on line 10
I/C Interest Expense and Interest Expense Apportionment:
12
Intercompany Interest Expense (Base 511, 512/513)
E&P by Source Code after Dividend Look Through > Intercompany interest expense account apportionment (account type 5170)
13
Interest Expense
E&P by Source Code after Dividend Look Through > 3rd party interest expense account apportionment (account type 5160) (listed by international summary account)
14
Total Gross Income Less Interest Expense Apportionment
Formula: line 6 – line 12 – line 13
15
De Minimis Movement
If the entity is deminimis, reverse the amounts on line 14 in subpart F source codes. Enter the sum of the amounts * -1 in source code 21.
16
High Tax Exception Movement
If the subpart F source code is high tax, reverse the amount on line 14. Enter the sum of the amounts * -1 in source code 21.
17
Less Subpart F and Full Inclusion Source Codes
Reverse the amount on line 14 for any remaining subpart F source codes (after deminimis/high tax movement and considering the impact of full inclusion)
18
Gross Income to be included by Direct Owners
Formula: (line 14 + line 15 + line 16 + line 17) * foreign entity ownership percentage (listed by direct owner)
19
Gross Income to be included by Direct Owners (Translated to Owner's Functional Currency)
Formula: Amounts on line 18 * lower tier entity's weighted average functional currency to US$ rate / direct owner's weighted average functional currency to US$ rate (listed by direct owner)
IMPORTANT!
  • ONESOURCE Income Tax International requires that dividends are paid to entities that are direct owners of the foreign entities on the top consolidation > Binder Properties > International Members tab – even if the direct owner is recorded with 0% ownership. The importance of adhering to this requirement is heightened when using the MGI method.
  • At this time, Look Through calculations must be run successfully for the Modified Gross Income Method to work as expected. By-passing Look Through will not yield Modified Gross Income amounts.
  • If an entity in the ownership chain has chosen the Asset Method or the Gross Income – Absolute Value Method for Interest Apportionment, the chain of including the Pro Rata Share of Subsidiary Gross Income will be broken at that entity.
Open Issues
At this time there are no open issues to document.
Closed Issues
Foreign Entity Interest Expense Apportioned on Assets may Change during Subpart F Computes
If the amounts in the Interest Apportionment Information screen consists of only passive, subpart F source codes, bases 412 and 413 may not be calculated during Subpart F computes. As a result, interest expense exceeding the amount apportioned on base 411 (gross income in passive, subpart F source codes) may be dropped from the E&P by Source Code after Dividend Look Through Report, changing current year earnings.
Return of Capital Amounts Reported on Form 5471 Schedule R are Duplicated when the Recipient is a Division
If a foreign entity makes a dividend payment to a division that includes return of capital, the amount is reported twice on the payor's Form 5471 Schedule R. This issue has been addressed for tax years 2025 and later.
Subpart F Compute Error spSFCA110_Form5471_Schedule_H_By_Basket -- Line#351 Primary Key violation
If the tax adjustment chart of a foreign entity has adjustments with different selections for the Debit TRC/TCC and Credit TRC/TCC fields in the Tax Return Presentation > Earnings & Profits Adjustments section of the Tax Adjustment screen, Subpart F calculations may abort with the error spSFCA110_Form5471_Schedule_H_By_Basket -- Line#351 Primary Key violation. If you previously made changes to standardize these selections, you may revert to the original settings after the 2025.055 (5/22/26) release.

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