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16766: 2020.05.28 - Drake19 Updates


Drake19 Update Notes

2020.05.28 - Drake19 Updates

 

Arkansas Update 27

  • Individual Package:
    • An update prevents the following parse error element 'SchAR3903'.
  • Partnership Package:
    • An EF Message will now be generated when the signing partner has been selected and information completed on screen K1, and override entries have been made on the PIN screen, preventing a reject per business rule PIT2019-0093.

Federal Update 34

  • When business interest expense is entered on screen 8825, and the "Electing out of Business Interest Expense Limit" check box is selected on screen 8990, the interest expense will no longer flow to the main form (1120S or 1065). Prior to this update, if there was business interest expense entered only on screen 8825, and the "Electing out of Business Interest Expense Limit" check box was selected on screen 8990, the interest was being printed on the main form and the deduction was being doubled. The interest expense will now flow only to Form 8825.
  • The filing instructions for Form 8868, Extension of Time to file an Exempt Organization Return, will now display the due date as 7/15/2020. 

1041 Update 38

  • General program updates.

1040 Update 53

  • EF Message 6240 has been updated to prevent reject F9465-027: "Form 9465, Line 11a 'PaymentDueAmt' can not be less than Line 10 'CalculatedMonthlyPymtAmt'. If the payment due amount is less than Line 10, calculated monthly payment amount, complete and mail Form 9465 with Form 433-F to the mailing address provided on www.irs.gov." 
  • Prior-year disallowed business interest expense flowing to line 2 of Form 8990, Limitation on Business Interest Expense, will no longer be duplicated on line 1 of Form 8990 as current-year business interest expense.

Montana Update 34

  • Individual Package:
    • When the sum of line 8, "This is your conservation credit," from multiple Forms ENRG-C, Energy Conservation Installation Credit, is greater than $500 for either the taxpayer or spouse, then the total allowable amount on line 6, "Energy conservation installation credit," of the Nonrefundable Credits Schedule, will be limited to the lesser of the sum of line 8 of all Form ENRG-C, or $500.
    • When the spouse has a Medicare premium deduction, the taxpayer's Itemized Deductions, line 1, "Medical and dental expenses," will not be understated by the amount of the spouse's Medicare premium.

1065 Update 39

  • General program update.

Nebraska Update 24

  • All Packages:
    • NE screen PPR was updated so that when the tax year is not the current year, but the next year, the "Tax Year" override field on NE screen PPR is available and the depreciation will be adjusted on the Personal Property Return.

1120 Update 35

  • Prior-year disallowed business interest expense flowing to line 2 of Form 8990, Limitation on Business Interest Expense, will no longer be duplicated on line 1 of Form 8990 as current-year business interest expense. 

1120S Program Update 37

  • General program update.

Utah Update 18

  • Individual Package:
    • Paper-filing instructions will now be printed as expected when the return is marked "Amended." 
  • All Packages:
    • The second-quarter payment due date has been updated to July 15, 2020. Prior to the update, the due date was set to June 15.

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