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K1x Release - 2/16/2024

Release Notes

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

Tax Year Updates

K-1 Analyzer

  • The K-3 Summary and K-1 Comparison report have been updated.
  • Input fields have been updated and PDF/XML generation is available for the following forms: 8865, 8621, 8886, 926.

K-1 Navigator

  • Input fields have been updated and PDF generation is available for the following states: AK, DE, MA, CT, IA.
  • Input fields have been updated and PDF generation is now available for Schedule K-3.
  • The GoSystem integration has been updated for Federal K-1 data.
  • The Current Year Net Income (Loss) calculation has been updated.

Legacy K-1 Navigator

  • Updated SALT matrices are available for download.
  • Import process have been updated for compatibility with the TY23 GoSystem partner information DIF file.
  • Withholding tax rates have been updated for the following states: AR, ID, KY, MO, NE, NC.
  • Composite tax rates have been updated for the following states: AZ, AR, ID, IN, IA, MO, NC.
  • Updated versions of the following forms can now be produced in TY23 projects: CA 3520-PIT, CA-588, CA-590, CO DR0107, IA Nonresident Claim for Release from Withholding, ID PTE-NROA, MA M-2848, MN AWC, MO-3NR, MS Nonresident Income Tax Agreement, MT POA, ND PWE, NJ 1080E, OR 19-AF, WV NRW-4.

990 Series Solution

2023 Form access is now available for the following states:

  • Arkansas
  • Arizona
  • Colorado
  • Indiana
  • Maryland
  • Minnesota
  • Oklahoma

As a reminder, you can find detailed statuses of forms on the Tax Year 2023 Supported Forms page at https://go.k1x.io/2023-supported-forms

 

New Features

K-1 Analyzer

  • Foreign disclosure footnote reading for 926, 5471, 8865, and 8886 is now available. Further improvements to the reading will come in the March release, including improved support for multi-line addresses. Further details on our foreign disclosure footnote reading capabilities can be found on our K-1 Reading Capabilities page.
  • A new export to Excel option for K-1s is now available. This option will export all extracted K-1 data to an Excel file, even if we don't currently display it in the UI. Watch the demo video below for more information!
  • A new report format has been added to the K-1 Line Item Summary report to display investments in columns and line items in rows. It is available by choosing Investments from the View Report By dropdown and Landscape from the Report Orientation dropdown.