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17303: 2021.07.15 - Drake20 Updates


Drake20 Update Notes

2021.07.15 - Drake20 Updates

 

Federal Program Update 32

  • General program update.

1040 Update 51

  • The percentage calculation for line 39 of Form 2555, Foreign Earned Income Exclusion, Part VII, will now be based on 366 days instead of 365 days.
  • A Return Note is now generated when a return includes a Form 8915, Qualified Disaster Retirement Plan Distributions and Repayment, and an IRA contribution. The Return Note informs the preparer that an adjusting entry to the AGI may be necessary on screen 8606 or the Roth screen to calculate the appropriate allowed contribution. Review returns that have an 8915 and an IRA contribution to ensure the maximum allowed IRA contribution was calculated correctly.
  • EF Message 4514 has been removed from the program, as an election selection is no longer required for Part II of federal Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund.

Kansas Update 18

  • Individual Package:
    • KS returns with a refund resulting from overpayment of taxes will now be calculated correctly.
    • Form K-40V, Kansas Individual Income Payment Voucher, will no longer be marked as an "Amended Return" when KS screen USE is present. 
  • Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • The field help for the "Name of person signing return" field on KS screen POA now states that this field is also for a person signing in place of an entity.

Massachusetts Update 25

  • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
    • EF Message 0344 has been removed from the program for current-year Farm and Fisheries credit received from MA Schedules K-1.

Maine Update 25

  • Fiduciary, Individual, Partnership, and S Corporation Packages:
    • An update resolves a DRKPARSE error, "'Country Cd' element is invalid," for the abbreviation for Canada on Form 1099ME, Maine Pass-through Withholding.

Wisconsin Update 26

  • Individual Package:
    • A parse error generated on element 'SchSB,' when line 44, "Partnership, limited liability company, trust or estate adjustments," of Schedule SB, Form 1 - Subtractions from Income, contains more than 10 entries, has been resolved.

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