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17050: 2021.01.14 - Drake20 Updates


Drake20 Update Notes

2021.01.14 - Drake20 Updates

 

Arizona Update 2

  • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • The program has been updated to adhere to the latest AZ tax rules and regulations.
  • Tax-Exempt Package:
    • The AZ results letter will now print the payment mailing address to match the main form mailing address when there is a payment.
    • Arizona does not have a payment voucher for the 99T.

California Update 4

  • Individual Package:
    • An update ensures lines 33-35 of Form 593, Real Estate Withholding Statement, are generated even when the "No exemptions apply" check box is marked on CA screen 593.
    • An EF Message is now generated to prevent reject "F540/2EZ-1010" when an invalid CA county has been entered on federal screen 1 or CA screen ADDR.
    • An update prevents reject "F5402EZ-770" when the amount on line 30, "Payments after Individual Shared Responsibility Penalty," of Form 540 2EZ, Resident Income Tax Return, is less than the amount on line 33, "Tax due."
    • "El Dorado" has been added to the "CA County" list on CA screen ADDR.
    • CA screen 3568, along with its helps, have been updated based on the latest published information received from the state.
    • An update prevents the following parse error for Single Member LLC returns (Form 568):
    • "The 'returnVersion' attribute is invalid - The value '2020v4.0' is invalid according to its datatype 'String' - The Enumeration constraint failed."
    • Direct debit information is now preserved on the filing instructions and client results letter for Single Member LLC returns (Form 568) when EF Messages are present.
  • Partnership Package:
    • An update prevents reject "F565-069" regarding deployed military exemptions.
  • Multiple Packages:
    • The following forms have been approved and are now available for printing:
      • Form 100S, California S Corporation Franchise or Income Tax Return
      • Form 199, California Exempt Organization Annual Information Return
      • Form 541, California Fiduciary Income Tax Return
      • Form 3514, California Earned Income Tax Credit
      • Form 3521, Low-Income Housing Credit
      • Form 3534, Tax Information Authorization
      • Form 3539, Payment for Automatic Extension for Corporations and Exempt Organizations
      • Form 3554, New Employment Credit
      • Form 3568, Alternative Identifying Information for the Dependent Exemption Credit
      • Form 3805Q, Net Operating Loss (NOL) Computation and NOL and Disaster Loss Limitations - Corporations
      • Form 3805Z, Enterprise Zone Deduction and Credit Summary
      • Form 3808, Manufacturing Enhancement Area Credit Summary
      • Form 3809, Targeted Tax Area Deduction and Credit Summary
      • Form 3840, California Like-Kind Exchanges
      • Form 3885A, Depreciation and Amortization Adjustments
      • Form 5870A, Tax on Accumulation Distribution of Trusts
      • Schedule C (100S), S Corporation Tax Credits
      • Schedule D (540), California Capital Gain or Loss Adjustment
      • Schedule H (100), Dividend Income Deduction
      • Schedule H (100S), S Corporation Dividend Income Deduction
      • Schedule K-1 (541), Beneficiary's Share of Income, Deductions, Credits, etc.
      • Schedule K-1 (568), Member's Share of Income, Deductions, Credits, etc.
      • Schedule P (540), Alternative Minimum Tax and Credit Limitations - Residents
      • Schedule R, Apportionment and Allocation of Income
      • Schedule W-2, Wage and Tax Statement

706 Update 1

  • General program update.

1041 Update

  • The final year of an estate or trust, Form 1041, will now show excess deductions, if any, on lines 11a and 11b of the beneficiary's Schedule K-1, based on deductions used in calculating the estates or trust adjusted gross income. Prior to this update, all excess deductions were showing on line 11b.

Florida Update 1

  • Corporation and S Corporation Packages:
    • The program has been updated to the most recent FL e-file specifications.

1040 Update 9     

  • The client bill will no longer show a charge for all pages of Form 1040-SR when "Show forms, number of forms, and charges per form" has been selected from the "Billing statement format" drop list in Setup > Options > Billing tab, or “5 - Charge per form” has been selected from the “Billing option” drop list on federal screen BILL.

Illinois Update 3

  • Individual Package:
    • Line 29, "Previous payments, refunds, or credit carryforward..." on Step 8, "Payments and Refundable Credit," of IL screen X now calculates as intended.
  • Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • All number-specific fields on Schedule 80/20, Related-Party Expenses, are now limited to positive numbers. Fields that compute negative numbers will default to blank.
  • Corporation and Fiduciary Packages:
    • Negative amounts entered on IL screen 99B are now registered by the program as "0" (zero). Any negative amount entered now generates Return Note 26, stating that all negative entries will default to blank on their respective Schedule 1299-B lines.

Louisiana Update 3

  • Individual Package:
    • e-Filing for LA Individual extensions is now available.
    • A parse error on the element 'CreditCode' has been resolved.
    • The following forms have been updated and are available for printing:
      • Form 540CEW, Louisiana COVID-19 Educational Expense Deduction Worksheet
      • Form 540X, Resident Amended Information Sheet
      • Form 540BX, Nonresident Amended Information Sheet
      • R-210R, Underpayment of Individual Income Tax Penalty Computation for Resident Filers
      • R-210NR, Underpayment of Individual Income Tax Penalty Computation for nonresident filers.
      • The following forms are obsolete and have been removed:
      • R-3400, Certification of Donation or Contribution of Property of a Sophisticated and Technological Nature.
      • R-1089, Owner of Accessible and Barrier-Free Home Tax Credit for Individuals

Maine Update 4

  • Corporation Package:
    • An update prevents the following parse error: "The element 'TotSales' has incomplete content. List of possible elements expected: 'ApportFactor.'"

Missouri Update 1

  • Individual Package:
    • Kansas City
      • Fixes an issue preventing EF Selection for KC returns.

North Carolina Update 1

  • Individual Package:
    • The following forms have been approved and can now be for printed:
      • Form D-400, Individual Income Tax Return
      • Form D-422, Underpayment of Estimated Tax by Individuals
      • Form D-422A, Annualized Income Installment Worksheet,
      • An update prevents a parse error on element "ExcessNetOpLoss" on Form D-400 Sch S, Supplemental Schedule.
  • Corporation, S Corporation, and Partnership Packages:
    • The following forms have been approved for e-file:
      • CD-405, C Corporation Tax Return
      • CD-401S, S Corporation Tax Return
      • D-403, Partnership Income Tax Return,
  • S Corporation Package:
    • "City," "State," and "Zip Code" now generate as intended for Parts 1, "Information about the Corporation," and 2, "Information about the Shareholder," of Form NC K-1 (CD-401S), Shareholder's Share of N.C. Income, Adjustments, and Credits.
  • Partnership Package:
    • Data entry flow now functions as intended for lines 2a, "Addition for bonus depreciation," and 2b, "Other additions from income (loss)," of Form NC K-1 (D-403), Partner's Share of N.C. Income, Adjustments, and Credits.

North Carolina Update 2

  • Corporation, S Corporation, and Partnership Packages:
    • NC e-file specifications have been updated to the most recent version.

North Dakota Update 1

  • Individual Package:
    • ND screen PSC no longer allows negative numbers. Negative numbers previously entered will now generate an EF Message.
    • The 2D barcode has been approved for Schedule WTH, Income Tax Withheld.
    • The 2D barcode has been approved for Form ND-1, Individual Income Tax Return, and is now available for printing.
    • ND amended returns can no longer be e-filed as per the ND DoR. As such: The selection "ND AMD" has been removed from the "Select the
      states/cities to e-file" drop list on federal screen EF.
    • An EF Message is now generated if the preparer attempts to e-file an amended ND return.
  • Partnership Package:
    • The following lines now allow negative numbers on Form 58, Partnership Income Tax Return:
      • Line 1, "Income tax withheld from nonresident partners" (page 1)
      • Line 1, "Inventories," column 2, "North Dakota" (page 2)
  • Corporation Package:
    • The following lines on Form 40, Corporation Income Tax Return, will now always agree:
      • Line 5, "Apportionment Factor" (page 1)
      • Line 14, "Apportionment factor" (page 3)

Ohio Update 2

  • Individual Package:
    • A general program update facilitates e-file of Ohio RITA Form 37 returns.

General Update 7

  • Page 4 of Form 1040-SR will no longer appear on the client bill.
  • A statement to elect to decertify as a Qualified Opportunity Fund has been added to Setup > Pricing, item number 1959, in the 1120, 1120S, and 1065 packages.
  • The Schedule H worksheet, Credit for Sick and Family Leave Wages due to COVID-19, has been added to Setup > Pricing, item number 141, for the 1040 and 1041 packages.

Pennsylvania Update 3

  • Individual Package:
    • PA Local -
      • The Earned Income Tax Rate for Nanitoke PA has been updated from 2% to 2.25%.
  • S Corporation and Partnership Packages:
    • The following forms have been approved for paper-file:
      • PA8879N - e-File signature authorization for PA40NRC
      • PA8453N - Tax Declaration for state e-File return (PA40NRC)
      • Form PA20S65, PA S-Corp and Partnership Informational return, can now be e-filed.

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