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16005: 2019.01.10 - Drake18 Federal Updates


Drake18 Update Notes

2019.01.10 - Drake18 Federal Updates

 

990 Update 1

  • A printing issue with Schedule H of Form 990 was resolved.

1065 Update 3

  • EF Message 014 was updated to include "Section 179 Deduction":
    • QBI ADJUSTMENT REQUIRED: This return contains at least one of the following items that require a QBI adjustment: 
      • Section 481 adjustment 
      • Section 1231 (Loss) 
      • Section 751(b) gain (loss) 
      • Specially allocated ordinary gain (loss) 
      • Section 179 deduction 
  • The adjustment will be available in the program in early January. The return should not be filed until all QBI adjustments are reported.

1120 Update 1

  • Form 1120-W, Corporation Estimated Tax, has been updated. The watermark was removed and the form can now be printed and filed.
  • Cincinnati, as an IRS service center, will no longer be printed on Schedule K-1, Part I, line C.

1120S Update 2

  • EF Message 014 was updated to include "Section 179 Deduction":
    • QBI ADJUSTMENT REQUIRED: This return contains at least one of the following items that require a QBI adjustment: 
      • Section 481 adjustment 
      • Section 1231 (Loss) 
      • Section 751(b) gain (loss) 
      • Specially allocated ordinary gain (loss) 
      • Section 179 deduction 
  • The adjustment will be available in the program in early January. The return should not be filed until all QBI adjustments are reported.
  • Cincinnati, as an IRS service center, will no longer be printed on Schedule K-1, Part I, line C.

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