18185: 2023.06.02 - Drake22 Updates

Arkansas Update 31

• S Corporation and Partnership Packages: 
  • An update prevents reject "DRKPARSE" on element "OwnershipDetails."
  • The scanline has been updated for Form AR1155-PET.

1041 Program Update 28

• Return Note 870 is now produced when foreign qualified dividends or foreign capital gain distributions are entered on screen DIV, informing the preparer that a foreign tax adjustment may be required for line 1a of Form 1116.

1040 Program Update 38

• An EF Message is now produced when a negative amount is entered on line 11, "Excess Social Security and Tier-1 RRTA Tax withheld," of screen 5, preventing reject "S3-F1040-144."
• Return Note 870 is now produced when foreign qualified dividends or foreign capital gain distributions are entered on screen DIV, informing the preparer that a foreign tax adjustment may be required for line 1a of Form 1116.
• The intended prior-period Foreign Tax Credit AMT amounts are now produced on the Carryover Worksheet (Wks_CARRY) when "1116 NOT required" is selected on screen DIV.
• The expected tax method is now displayed on line 6, "Tax," of Form 1040-X when Schedule J is present in the return. 
• An EF Message is now produced when a negative amount entered on line 4a, 4b, 5a, or 5b of screen 3 results in a negative retirement distribution on line 8, "Other income from Schedule 1," of Form 1040, preventing reject "IND-288." 
• An update prevents reject "S8812-F1040-003-03." 
• The interest rate for the third quarter of 2023 has been added to the Interest and Penalty Calculation worksheet ("Wks Penalty" in View/Print mode).
• Amounts entered on line 9, "Crop insurance proceeds," of screen 99M with "4835" selected from the "For" drop list now flow as intended to the appropriate Form 4835 when there is more than one Form 4835 present in the return.

New York Update 26

• Corporation Package:
  • The intended amount is now produced on line 7, "REAP Credit," of Form NYC-2 when line 12, "Net Tax after credits," is negative.