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  • Product: ONESOURCE Trust Tax

Release notes 26.02

Release highlights

ONESOURCE Trust Tax version 26.02 includes bug fixes and introduces the following features:
  • 2021 tax year processing no longer available
  • Information Return Diagnostics feature in Review menu revised display to focus on errors
  • 990 Schedule A Section E regulatory changes

New features

2021 Tax Year Processing
Processing for tax year 2021 is no longer available.
Process
 is now unavailable from the Account Action dropdown list in the account binder and in the
Process
 subtopic in registers when you are logged in to tax year 2021.
The following graphic shows that Process is no longer available in the Account Action drop-down list when you are logged in to tax year 2021.
Download Archive Data
Action Required: Archive data for tax year 2020 will be permanently deleted after June 30, 2026. Download your data before this date.
To download Archive data or send Archive data to a SFTP site (requires licensing through your Client Success Manager), select the
Download Archive Data
 subtopic on the
Admin
 topic from the
HOME
 menu.
The user right
Can download Archive data
 will need to be set for users performing this task.
Options and Overrides
Beginning with this release the following changes were made to Options and Overrides:
  • The
    Bypass state returns for IL, KS, MD, ME, MI, NC, NM, OH, RI and WI (WI beginning with 2018 tax year)
    drop down selection for option
    Processing of state returns on grantor accounts
     in the
    Compute - States
     category was updated to
    Bypass state returns for IL, KS, MD, ME, MI, NC, NM, OH, RI and WI).
  • The
    County (Only applicable if fiduciary state above is OK and processing OK returns) (Option applicable beginning with tax year 2025)
     field was added to the
    Fiduciary Info
     category of Options & Overrides.
    note
    County should be entered when the fiduciary address is in Oklahoma.
Review Menu - Information Reporting Diagnostics
Beginning with this release, the
Information Reporting Diagnostics
 page under the
Review
 menu has been updated with the following changes for all tax years:
  • The page displays only
    Informational
     and
    Severe
     diagnostics, allowing users to focus on actionable items
  • The
    None
     button was removed
  • This applies to all
    1099, 1098, and 5498 forms
     and both payer and recipient diagnostics
note
This change is for
display only
. All valid records continue to be included in processing and filing as expected.
Account Information
Beginning with tax year 2025, the
52/53 Week Year
 checkbox was added to the
State Misc
 group box within the
State Misc and UPIA
 collapsible section on the
Account Information
 subtopic.
A 52/53-week filer is a fiscal filer with a tax year that varies from 52 to 53 weeks because their tax year ends on the same day of the week instead of the last day of the month. Currently the states of Illinois and Oklahoma have this checkbox on their state returns.
When checked, it will roll to subsequent tax years.
990
Beginning in tax year 2025, the following changes were made to
Section E. type III Functionally-Integrated Supporting Organizations
 in
Part IV, Supporting Organizations
collapsible section
in the
Schedule A
 subtopic of
Tax Review-990
 topic.
Part IV
 is accessible when
Section 509(a)(3) - Supported Organizations
 is selected in the dropdown listing for “
The organization is not a private foundation because it is
” question.
  • The description of 3. was changed from
    Parent of Supported Organizations. Answer (a) and (b) below.
    to
    Parent of Supported Organizations. Answer (a), (b), and (c) below.
  • The description of b was changed from
    Did the organization exercise a substantial degree of direction over the policies, programs, and activities of each of its supported organizations? If "Yes," describe in the Supplemental Section the role played by the organization in this regard.
    to
    Did the organization direct the policies, programs, and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.
  • c. Are the organization and its supported organization(s) part of an integrated system (for example, a hospital system)?
    was added
    with dropdown selections Required/Yes/No

Minnesota

Beginning in tax year 2025, the
Only Bonus Depreciation
 field was added to
Adjustments to federal taxable income
 category under the following collapsible sections:
  • Schedule M2NC, Federal Adjustments
    under
    Income and Deductions
    collapsible section
  • Schedule M2SBNC, Federal Adjustments
     under
    ESBT
     collapsible section

Nebraska

Beginning in tax year 2025, the
Certificate number from Form SR-3604
and the
Nebraska Pregnancy Help Act Credit for contributors
fields
were added to the
Credit
category under
Payments and Credits
grid in the
Payments and Credits
collapsible section.

Oklahoma

Beginning in tax year 2025, the following changes were made:
  • The
    Bonus Depreciation Adjustment
     category containing the
    Addition - Duplicated federal depreciation (Fiduciary share)
     and
    Subtraction - Oklahoma bonus depreciation (Fiduciary share) fields
    was added to the
    Additions and Subtractions
    grid in the
    Income and Deductions
    collapsible section.
The
Oklahoma bonus depreciation - Addition (Fiduciary Share)
 and
Oklahoma bonus depreciation - Subtraction (Fiduciary Share)
fields
were added to the
Deductions
group box in the
Nonresident Returns
collapsible section.

Pennsylvania

Beginning in tax year 2025, the
Other Credits
 grid was added to the
Payments and Credits
 collapsible section that includes these fields:
  • Credit Type – dropdown selections are shown in a subsequent graphic
  • Award Source - dropdown selections are shown in a subsequent graphic
  • Awardee ID type - dropdown selections are shown in a subsequent graphic
  • Awardee Tax ID
  • Award number
  • Award date
  • Award Claim Amount
Credit Type
Award Source
Awardee ID type
A maximum of 3 credits is allowed. An error will be displayed if more than 3 credits are added as shown in the following graphic.
You can add a maximum of 3 rows.
Since the following three credits are included in this new grid, they have been removed from the Payments and Credits grid:
  • Employment incentive payment credit
  • Jobs creation tax credit
  • Research and development tax credit

Fixes

For a list of ONESOURCE Trust Tax fixes (closed) issues, search Alerts and Notices.

Known issues

For a list of ONESOURCE Trust Tax known (open) issues, search Alerts and Notices.

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