17059: 2021.01.19 - Drake20 Updates

Federal Update 3

• Individual Package:
  • The NOL Carryover/Carryback Worksheet (Wks NOL) is now available, and the watermark has been removed.
• Fiduciary Package:
  • The NOL Carryover/Carryback Worksheet (Wks NOL) and the NOL carryover worksheet (Wks NOLCF) are now available, and the watermarks have been removed.

Colorado Update 2

• Individual Package:
  • EF Message 0162 has been added to alert the preparer of the upcoming implementation of Form 104TN, Colorado Earned Income Credit for ITIN Filers for resident and part-year resident CO taxpayers. Preparers now have the opportunity to delay filing returns they deem eligible for this credit until direction for implementation is provided by the CO Department of Revenue. A check box has been added to CO screen 1 to suppress this message and allow those returns with ITINs that do not qualify for this new CO EITC to be e-filed.

Connecticut Update 2

• Partnership and S Corporation Packages
  • Form CT-1065/CT-1120SI, Connecticut Pass-Through Entity Tax Return, has been approved for e-file by the CT Department of Revenue.

1041 Update 5

• A program update activates California depreciation for vehicles placed in service in tax year 2018.

1040 Update 11

• A program update enables California state depreciation for vehicles placed in service in tax year 2018.
• The taxpayer's direct deposit information will now be displayed on the Transaction Summary for returns with Refundo bank products.
• An update prevents parse errors from occurring when a bank product is chosen for a state return but not for the federal return [RefundDisbursementCdSubmit]

Illinois Update 4

• Individual Package:
  • Filing instructions for Form IL-1040-V, Payment Voucher for Individual Income Tax, along with the client results letter, will now generate the phrase "Your return will not be e-filed" when Form IL-8948, Electronic Filing Opt-Out Declaration, is generated with the return.
• Corporation and Fiduciary Packages:
  • Line 6, "Percent of ownership attributable to partners or shareholders," has been removed on IL screen 477.
• Fiduciary Package:
  • Return Notes 22, 29, 30, and 31 have been added for Schedule CR (Form 1041), Credit for Tax Paid to Other States.

Maine Update 6

• Corporation Package:
  • Form 1120ME, Maine Corporate Income Tax Return, has been approved for e-filing.
  • An update prevents a parse error from occurring when the apportionment is 0.000000 on line 1, "Total sales," of Schedule A, Apportionment of Tax, column (C), "Apportionment Factor," on page 5 of Form 1120ME, Corporate Income Tax Return.

Michigan Update 1

• Corporation Package:
  • The Calculation Results screen has been updated to reflect that Michigan is not eligible for e-file when any EF Message is present.
• Individual Package:
  • A deduction on Line 26, "Dividend/interest/capital gains deduction for taxpayers 75 years and older...," of Schedule 1, Additions and Subtractions, will no longer be allowed when taking the "Tier 3 Michigan Standard Deduction" on line 24 unless it is indicated that the taxpayer is an unremarried surviving spouse of someone born before 1946 and at least age 65 at the time of death. This will also prevent a parse error on the element 'DeductionBasedOnYearOfBirth'.
  • Form MI-1040CR-7, Home Heating Credit Claim, has been updated for tax year 2020 and is available to be filed. The rate on line 47, "Home Heating Credit," for Form MI-1040CR-7, Home Heating Credit Claim, has been increased to 85 percent.

1065 Update 4

• A program update activates California depreciation for vehicles placed in service in tax year 2018.

Ohio Update 4

• S Corporation, Partnership and Fiduciary Packages:
  • Forms IT 1041, Fiduciary Income Tax Return, and IT 4708, Pass-Through Entity Composite Income Tax Return, have been approved and can now be e-filed. 

General Program Update 10

• General program update.

1120 Update 5

• A program update activates California depreciation for vehicles placed in service in tax year 2018.

1120S Update 4

• A program update activates California depreciation for vehicles placed in service in tax year 2018.
• The address will now flow, as expected, from screen 1 to Form 8832, Entity Classification Election, when no address is directly entered on screen 8832.

990 Update 5

• A program update activates California depreciation for vehicles placed in service in tax year 2018.