2018 Lacerte Tax Update is available for download on 7/3/2019 (Version 39.0703). This update includes the following items;
NY E-file Reject R1130 Amount of Overpayment Applied to Estimates is Overstated
When applying the overpayment amount to estimated tax payments, and code 6 has been selected in Screen 7.1, 2019 Estimates (1040 ES) in the field Apply overpayment to 2019 (Ctrl +T or dollar amount) (code 113 for state), the amount applied is more than the amount available, causing the following e-file reject.
Error Code: R1130
Intuit Solution Message: This electronic filing reject is the result of a defect in the tax program. The issue will be corrected in a future release. (ATC-214640)
Intuit Problem Message: Overpayment is not equal to available refund amount plus estimated tax amount.
NY Form IT-201 Line 59 Not Reduced as Expected
When entering Sales or Use Tax on New York Form IT-201 using Screen 54.099, the field for Tax paid to other jurisdiction provides the following information in the F1 help:
Reduction of the total sales and use tax due on the item..
When viewing line 59 and the worksheets, the amount is reported on the worksheet but it does not seem to reduce the amount on line 59 of Form IT-201 as expected.
NY Form IT-196 Line 41 Worksheet Not Matching Schedule A
When viewing New York Form IT-196, page 3, line 41 worksheet, line 4 states; amount from Federal Schedule A.
The amount reported here does not match the amount reported on the Federal Schedule A.
MN Page 3, Line 26 State Income Tax Includes All Types
Lacerte is including all taxes being deducted on line 11 of the Federal Form 1041 without regard to the type of taxes reported. The Minnesota instructions (line 26) indicates the following;
State Income Tax Enter the amount of state income tax deducted on the federal return. State income tax deductions are not allowed on the Minnesota return. [M.S. 290.0131, subd. 3]
The Form 1041 does break down the type of taxes that are being added together on the line into different categories. The program is not taking these categories into consideration.
NJ Form NJ-1041 Fiscal Year Dates Truncated
When entering fiscal year dates, the beginning dates are truncated and the ending dates appear to be misaligned on the New Jersey Form 1041.
NY Form IT-204 Line 117C Jump-to-Input Misdirected
When viewing New York Form IT-204, pate 7, line 117C the jump-to-input (JTI) takes you to the wrong detail screen. You're taken to Screen 5 where the input landing does not affect this line of the return.
The correct input resides on Screen 23 for passthroughs, since the question asked 'is if the partnership is a partner in another passthrough', and not 'is this partnership owned by another entity'.
NY Form IT-204 Line 99 Excess Business Interest Expense Not Showing on NY Statements
The Form 8990 Excess Business Interest Expense shows on line 13d of the Federal Schedule K statement with a description. However, the New York Form IT-204, line 99 statement and the New York Form IT-204 IP, line 13 statement do not show this description.