2019.01.11 - Drake18 Federal Updates
General Update 1
1040 Update 4
- The “Per Item” fee set in Setup > Pricing for Form 8867 in the 1040 package will now be included on the client’s bill when due diligence requirements have been completed for Head of Household filers. Prior to this update, the client’s bill did not include this “Per Item” fee for due diligence requirements for Head of Household filers.
- Impairment-related work expenses from two Forms 2106 will now be displayed correctly on line 16 of Schedule A.
- Form W-7, Application for IRS Individual Taxpayer Identification Number, has been updated to match the latest instructions released by the IRS.
- The watermark has been removed and the form can be printed and filed.
- Distributions from S corporations in excess of the shareholder’s basis will now flow to Form 8949. Prior to this update, manual data entry was required.
- Schedule A is now produced when the spouse is claimed as a dependent by another taxpayer and the total for the itemized deductions is greater than the standard deduction.
- If a taxpayer who files a Schedule C lived in two homes during the tax year, and claims office-in-home expenses for both homes, and uses Form 8829 for one home and the simplified method (SH_8829) for the other home, that return can now be e-filed.
1120 Update 2
- Corporation (1120) package can now be e-filed.
1120S Update 3
- S Corporation (1120S) package can now be e-filed.
1065 Update 4
- An update prevents parse error,“’ZIPCd' element is invalid,” on Schedule B of Form 1065.
- An amount entered on screen 7004 for "Amount paid with extension" will no longer be added to the calculation for Form 7004, line 7, "Total Payments."
- Form 8804, Annual Return for Partnership Withholding Tax, is now available in the 1065 package.