K1x Release - 04/29/2024

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

Tax Year Updates

990 Series Solution

• The Massachusetts Form PC now includes an "E-File Mandate" watermark for Tax Years 2022 and 2023. Additionally, the user interface (UI) has been updated to include E-File Mandate information along with a URL for further details on this directive.
• The Vermont CO-411 now includes a "Do Not Mail" watermark to the PDF printout of the form when Status on the "Review & File Forms" screen is either "Submitted" or "Accepted"
• Added 2023 client-specific instructional documents to the "Resources" section, accessible exclusively to the designated client

K-1 Navigator

• Input fields have been updated and PDF generation is available for the following states: MT, WI, NC (Supplemental Schedule).

K-1 Analyzer

• Selected new lines have been incorporated into the CCH integration for return type 990.

New Features

K-1 Navigator

• K-1 Analyzer investment data can now be uploaded into Scenario Builder for entities which issue and also receive K-1s. With this release, K-3 data transfer is now available in addition to Federal and state K-1 data (previously released). For more information, see this article.
• K-1 Navigator now automatically selects the correct MN K-1 form for each investor based on their entity type. This functionality will be extended to all states with multiple K-1 forms in future releases.

K-1 Analyzer

• State modifications are now included in the State Income Summary report.

Resolved Issues

990 Series Solution

• Updated to latest schema version for Federal Form 990-T Form 4136 for Tax Year 2022
• Removed inaccurate support information (email and phone number) from environments where it was previously displayed
• Corrected Tax Rate table calculations for the states of AR and LA for Tax Years 2022 and 2023
• Corrected an issue where the Form 990 Signature Block and Title were not reflecting on the PDF for Tax Year 2023
• Corrected an issue on the Illinois IL-990-T where the checkboxes in Step 1 were incorrectly mapping to the PDF for Tax Year 2023
• Corrected an issue that was causing CA filings to get rejected for Tax Year 2023
• Corrected an issue that was causing package printing generation to fail for ND and NM
• Corrected an issue where the state rollover button was disabled for some users who should be able to perform rollover
• Corrected an issue where a Fair Share calculation was incorrect for a specific client

K-1 Analyzer

• Multiple issues with Form 5471 have been resolved including: commas missing from numeric values on the PDF, data in Part 1 Section 1 mapping to the incorrect column, and Schedule Q totals not mapping to the PDF.

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