1065 Partnership Income Tax Enhancements

E-file

Federal E-file

We are enabling the ERO information to rollover from TY 2020 to TY 2021.

State Jurisdictions and Forms Now Available for E-file

Ohio RITA

California

We are adding a Form 565/568 dependency statement to e-file.

New York

We are adding a carry from the federal 8879 check box to the NYC 579 check box for authorizing e-file.

Federal

Form 4797

We are adding new gains lines on Form 4797.

New Forms

We are adding the following forms:

Schedule K-2: Partners’ Distributive Share Items — International
Schedule K-3: Partner’s Share of Income, Deductions, Credits, etc.— International

Partner Bridge

We are doubling the number of special allocation codes that can be included in the Partner Bridge import and export file from 126 to 252 for Tax Year 2021.

Pass-Through Entities

We are adding an option to allow detail to be entered on line 20p §453A(c) information, similar to what is available for this line on Schedule K.

We are adding a Columnar Review to both Rental Real Estate and Pass-Through Activity Organizers to alleviate trapped data. This allows clients to troubleshoot their own trapped data issues related to Rental Real Estate and Pass-Through Entities in runtime.

Reconciliation

We are adding the ability to print a reconciliation between Schedule L and Schedule M-2.

Rental Real Estate

Schedule B

We are adding a rollover question relating to Electing Out of Centralized Partnership Regime.

We added rollover to federal Form 1065, Schedule B, line 25 Is the partnership electing out of the centralized partnership regime under section 6221(b).

Schedule K-1

We are adding check boxes to suppress 13N Ed Assistance Benefits and 13O Dependent Care Benefits from flowing to current year net income.

Section 179

We are adding new §179 limits.

Special Allocations

We are increasing the maximum number of special allocations that can be imported and exported.

Tax Defaults

We are adding new a Schedule K-3 Instructions Option in Tax Defaults.

States

Arizona

We are adding option(s) to override the K-1/K-1NR Partner Types coming from the Federal Organizer.

California

We are adding a Form 565/568 dependency statement to e-file.

We are adding a dependency statement related to the jurisdiction's preference method when reporting differences between the federal return and California Schedule L/M-1/M-2 to e-file for Forms 565/568.

We are adding rollover for Schedule K-1 Item I/J Column (a) Beginning Capital Account.

We are adding a check box to move the following from federal Schedule K/K-1 to California Schedule K/K-1 to support the 2% portfolio deductions requirement:

Federal Schedule K/K-1	California SChedule K/K-1
Code 13W	Line 13D
Code 13L	Line 13E

Colorado

We are updating the Redact Personally identifiable Information functionality on Form CO DR0108.

Illinois

We are adding options to designate where gains in the federal return flow to Schedule NB and Schedule K-1-P.

We are adding a protected group field to the Schedule NB Organizer/Other Nonbusiness Income to display the default values coming from the federal return.

We are adding Appendix C because the Illinois Schedule NLD (net loss deduction) was removed for 2020.

We are adding options to designate where gains from the federal return make their way to Schedule NB and Schedule K-1-P.

We are adding the partner name to the reject diagnostics which are partner related to assist in identifying the precise partner for TY 2021.

We are adding the Form W-2G to partnership forms.

Indiana

We are adding import-friendly group fields to prevent trapped import data on composite workpapers so that they will be protected and prevented for DK-1 import.

We are adding a new Organizer override for composite returns.

We are adding the following form:

Schedule IN-EL: Tax Computation Form for Electing Partnerships

Iowa

We are modifying the tax application for the Iowa depreciation law changes.

Kansas

We are adding the K-40V and K-40ES for K-40C filing instructions.

Kentucky

We are adding Kentucky Schedule INV to be included in Kentucky Credits.

We are modifying the tax application for the Kentucky depreciation law changes.

Maryland

We are adding the following form:

Form 511: Pass-Through Entity Election Income Tax Return

We are adding a new Estimated pass-through entity resident tax paid with form 510D Organizer field to populate the corresponding tax form field.

We are enabling Form 510, line 22 to calculate automatically.

Nebraska

We are adding the Nebraska Property Tax Incentive Act Credit Computation, Form PTC, which is used to identify parcels, parcel owners, and compute a tax credit for school property tax paid.

New Jersey

We are adding a new rule to reconcile Schedule PD, Columns J and K amounts with the partner entity code.

New York

We are working to implement the property relief impacted by the $10K cap on state and local deductions.

We are adding a carry from the federal 8879 check box to the NYC 579 check box for authorizing e-file.

We are implementing a New York tax law that helps partners with Property Relief credit impacted by the $10,000 cap on state and local deductions (TCJA).

Ohio Cities

Ohio RITA

We are adding Ohio RITA to e-file.

Oklahoma

We are adding new nonresident withholding estimates.

Oregon Cities

Portland

We are adding a worksheet to show how the calculations are being done in runtime as they were not visible before.

Tennessee

We are adding filing intructions for Form FAE 183.

Utah

We are adding a check box so that Schedule N Partner Values calculate based on the federal special allocations when in use.

RS Resources/1065_enhancements.htm/TY2021

Last Modified: 08/27/2020

Last System Build: 09/25/2022