2022.08.05 - Drake21 Updates

Connecticut Update 18

• Individual Package:
  • Data entered for line 2, "Taxable interest income," in the "Part Year" column on CT screen AWSI will now flow as intended to line 2 of Schedule CT-SI, Nonresident or Part-Year Resident Schedule of Income From Connecticut Sources.
• S Corporation and Partnership Packages:
  • Data entered for line 5b, "Interest," on Part I, Schedule A of CT screen 1 will now flow as intended to line 5b, Part 1, Schedule A of Form CT-1065/CT-1120SI, Connecticut Pass-Through Entity Tax Return. Prior to this update, amounts entered on line 5b flowed to line 5c.
    

1120 Program Update 36

• The intended amount is now used for line 16, "Net operating loss deduction," on the Contribution Limit/Carryover Worksheet ("Wks Contribution" in View/Print mode). Prior to this update, line 16 was calculated using an NOL deduction of 80% instead of either 80% or 100% (depending on the year of the deduction). Returns with an amount on line 16 should be reviewed for accuracy.
  

990 Program Update 31

• Applicable information related to Form 4720 is now generated on Form 8879-TE, IRS e-File Signature Authorization for a Tax Exempt Entity, when "4720" is selected on screen EF.