K1x Release 02/05/2025

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Hello! Please review the following changes that have been introduced as part of this K1x release. 

990-Series Solutions

• Improved precision for rounding for Form 990 and Schedule J.
• Enhanced e-file notification. 990 Tracker e-file tracking emails for extensions now clearly specify whether extension was filed for a 990 or 990-T.
• Enhanced year-over-year tracking of hours in 990 Part VII and Schedule J. 990 Tracker now carries over hours for organizations previously included in a group return under Master Compensation, even if they are no longer part of the group.
• 2023 Alabama - Line 20c, Current year's composite payments electing pass-through entity credits reflects the total amount as entered on Schedule CP-B line 3 (total). Previously, data was pulled from multiple sources, potentially causing inaccuracies.
• 2023 Schedule H - Part III, line 3 - Update ensures that previously missing text now appears on the printed PDF.

As a reminder, you can find detailed statuses of forms on the Tax Year 2024 Supported Forms page at https://go.k1x.io/2024-supported-forms

Circular 230 Disclosure

To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this software (including any reports or downloads) is not intended or written to be used and cannot be used for the purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) supporting, promoting, marketing or recommending to another party any transaction or matter addressed herein. This software is for informational purposes only and should not be regarded as tax advice. Please consult your tax advisor or attorney for guidance on your individual tax situation.

Related to

• CTRAC

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