17063: 2021.01.21 - Drake20 Updates

Alabama Update 3

• The following forms have been approved for printing:
  • 40NR, Individual Income Tax Return for Nonresidents only
  • BPT-V, Business Privilege Tax Payment Voucher

Arizona Update 5

• Individual Package:
  • A new AZ state code, AZHOH, has been added to the "State codes' field on federal screen 2, when dependents are over 18 and not disabled or full-time students. This code allows users to designate the qualifying person for the AZ HOH dependents. EF Message 0037 (below) and conditions for generating the message have been updated to reflect this new code.
  • "Go to the federal screen 2 and select the person who qualifies you. You can view the help in the State codes field or just enter "AZHOH" in the field to select this "Dependent Information" screen as the qualifying person for Head of Household in Arizona. This name will print to the right of the filing status marked for Head of Household on the main form."

Federal Update 4

• Filing instructions for Forms 1120 and 1120-S now display the bank's name and last four digits of the corporation's bank account number when a refund has been selected to be deposited into the corporation's bank account. Prior to this update, this information was missing from the filing instructions.

California Update 6

• Individual Package:
  • The calculation computation for line 6, "Subtract Line 5 from line 4," of worksheet CA 3849_F, Monthly Federal PTC Amount Worksheet 6, has been updated.
  • Line 3, "Did you or anyone else in your applicable household have MEC or qualify for a coverage exemption for any month in 2020," on Step 1 of worksheet CAWK3853, Individual Shared Responsibility Penalty Worksheet, will now be marked "Yes," as intended, when any member of the household on the return has either full-year coverage or a full-year exemption.
  • CA screens 3849, 3895, and HCM have been updated for clarity.
  • Line 22, "Other adjustments," of Schedules CA (Form 540), Adjustments - Residents, and CA (Form 540NR), Adjustments Nonresidents or Part-Year Residents, has been updated to include certain gifts to charity reported on line 10b, "Charitable contributions if you take the standard deduction," of federal Form 1040, U.S. Individual Income Tax Return.
  • An update prevents reject "F5402EZ-760," where returns with Form 3849, Premium Assistance Subsidy, prevent Form 540 2EZ, Resident Income Tax Return, from being included.
  • An update resolves a parse error for the element "ZIPCode" being invalid when a nine-digit ZIP code is entered on CA screen ADDR.
  • An update prevents parse errors for elements "PASReconciliation" and "PASRepayment" having invalid child elements.
  • An update prevents a parse error for element "InCountryResidence" having an invalid child element when certain invalid characters are entered in the domestic address fields on CA screen ADDR.
  • An update prevents reject "F3853-030," where exemption code "C" is used as a full-year exemption code.
• Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
  • The following forms have been approved and activated for printing:
    • Form 3531, California Competes Tax Credit
    • Form 8453, California e-file Return Authorization for Individuals

Colorado Update 3

• Individual Package:
  • The marginal tax rate on the CO TAX Comparison screen has been updated to reflect the new CO tax rate of 4.55%. Estimated tax payments for 2021 will now be calculated at the new rate of 4.55 percent.
• Partnership and S Corporation packages:
  • Form DR1366, 2020 Enterprise Zone Credit and Carryforward Schedule, Line 7, has been updated to reflect the current year tax liability. 
• Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
  • The following forms have been approved by the CO DoR: 
    • DR 0145, Colorado Tax Information Authorization or Power of Attorney
    • DR 0021X, Amended Colorado Oil and Gas Severance Tax Return

1041 Update 6

• The Schedule E - Rental Limitation on Deductions when Used for Personal Use worksheet (Wks Sch E Personal), has been updated to the latest version.
• The latest version of worksheet 3, found in the Schedule H (Form 1040) instructions, has been added to the program.

1040 Update 12

• The amount of interest owed no longer flows to the tax return when the box "Taxpayer is filing this form separately" has been marked at the top of screen 8697. 
• An additional choice, "Code F Section 743(b) positive adjustments," has been added to box 11 on screen K1P.
• An additional choice, "Code V, Section 743(b) negative adjustments," has been added to box 13 of screen K1P ("1065 K1 12-20" tab).
• The latest version of worksheet 3, found in the Schedule H (Form 1040) instructions, has been added to the software.
• "FOREIGNUS" and "APPLD FOR" are now valid entries for field "EIN" on screen 8697, Look-Back Method for Completed Long-Term Contracts.
• Form 1040-NR is now available for paper-file, and the watermark has been removed. The IRS has indicated that electronic filing will not be available for Form 1040-NR until mid-March. 
• The Charitable Contributions Carryover worksheet has been updated to the latest version.
• The amount of interest owed no longer flows to the tax return when "Select this box if filing this form separately from the tax return" has been marked at the top of screen 8866. 
• A check box added to the Recovery Rebate Credit screen (RRC) prevents the program from calculating any RRC. 
• The Schedule E - Rental Limitation on Deductions when Used for Personal Use worksheet (Wks Sch E Personal) has been updated to the latest version. 
• Pre-Ack advances will be available from TPG until midnight, February 11, 2021.
• Pre-Ack advances will be available from MetaBank until midnight, February 11, 2021.

Iowa Update 4

• Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
  • EF Message 0159 for Individual and EF Message 0162 for Business returns were updated to reflect Iowa's has new Section 179 limit of $1,040,000.
  • A Return Note was added to inform the preparer when the limitation is met or exceeded.
  • Line 1 of Form IA 163A, Interest Expense Carryover Adjustments, is now the total of lines 1a and 1b.

Kentucky Update 2

• Individual Package:
  • Schedule P, Pension Income Exclusion, is now calculated as expected when a "Date of Retirement," "Exempt Percentage," and exclusion total for Part III are present.
  • Schedule UTC, Unemployment Tax Credit, is no longer duplicated when only one KY screen UTC is present.
  • Line 2, "Enter the total of taxable retirement income...," of Schedule P, Pension Income Exclusion, is now calculated as expected when the KY return is for a nonresident or part-year resident and the filing status is Married Filing Separately.
  • Calculations for the KY Results page have been updated to produce the expected results for KY nonresident filers.

Minnesota Update 2

• Individual Package
  • The default direct debit date for MN Individual returns will now be April 15, 2021, and the state "Requested payment date" override on federal screen PMT will now function as expected. Prior to this update, the default payment date was the current date.

Montana Update 4

• S Corporation and Partnership Packages:
  • Form PTE, Pass-Through Entity Tax Return, has been approved for e-file.
  • The appropriate "Owner Entity Type" is now marked as expected for Form PT-AGR, Pass-Through Entity Owner Tax Agreement.

1065 Update 5

• "FOREIGNUS" and "APPLD FOR" are now valid entries for field "EIN" on screen 8697, Look-Back Method for Completed Long-Term Contracts.
• The amount of interest owed no longer flows to the tax return when "Select this box if filing this form separately from the tax return" has been marked at the top of screen 8866.
• A blank page will no longer be produced between Schedule K-1 and the supplemental K-1 information page. Prior to this update, the blank page was produced when "Print Schedule K-1 Codes" was selected in Setup > Options or on screen PRNT.
• Adjustments entered on screen M2 for "Other Increases" and "Other Decreases" will now be included on the "Other increase (decrease)" line on item L of Schedule K-1. Prior to this update, adjustments entered in the "Other Increases" and "Other Decreases" fields flowed to the "Current year net income (loss)" line on item L of Schedule K-1.

North Dakota Update 2

• Corporation Package:
  • An EF Message is now produced for an invalid EIN entered on ND screen CR.
• S Corporation, Partnership, and Fiduciary Packages:
  • A Residency override in now available on ND screen K1. A selection will flow to line F of ND Schedule K-1.

Ohio Update 5

• Individual Package:
  • An update prevents reject "DRKPARSE" for element "ReturnDataState", "TraditionalSDAmounts", "FormDetail", and "TaxpayerScheduleofWages."
  • Only CCA locality tax is now generated in column 8, "Tax Due CCA," for Form CCA, City Tax Form.
  • The apportionment percentage for Generic OH City returns is now calculated as intended.
  • Preparer information is now generated at the bottom of Generic OH City Returns as intended.
• Corporation, S Corporation, Partnership, and Fiduciary Packages:
  • Printing has been adjusted to match the current version of the CCA business form.
  • EF Message 6021 is now generated if the client attempts to e-file amended RITA Form 27 and there is no entry in the "Amended Explanation" text box on OH screen RITA. 
  • NOL carryforward amounts are now displayed as intended for OH generic cities, CCA cities, Columbus, and Toledo. 
• S Corporation and Partnership Packages:
  • Form IT 1140, Pass-Through Entity and Trust Withholding Tax Return, has been approved for e-file.

General Program Update 11

• General program update.

1120 Update 6

• "FOREIGNUS" and "APPLD FOR" are now valid entries for field "EIN" on screen 8697, Look-Back Method for Completed Long-Term Contracts.
• The amount of interest owed no longer flows to the tax return when "Select this box if filing this form separately from the tax return" has been marked at the top of screen 8866.

1120S Update 5

• The amount of interest owed no longer flows to the tax return when "Select this box if filing this form separately from the tax return" has been marked at the top of screen 8866.
• A blank page will no longer be produced between Schedule K-1 and the supplemental K-1 information page. Prior to this update, the blank page was produced when "Print Schedule K-1 Codes" was selected in Setup > Options or on screen PRNT.

990 Update 6

• "FOREIGNUS" and "APPLD FOR" are now valid entries for field "EIN" on screen 8697, Look-Back Method for Completed Long-Term Contracts.