Release Notes for 6-in-1 Version 2014-053

6-in-1 Estate Administration Software, v2014-053 February 22, 2014

We’re delighted to announce first release of 6-in-1 Estate Administration Software for 2014.

e-file statistics (through 10/20/2014):

1041
Accepted: 2,018 (118 firms)
Rejected: 34 (beny EIN missing digits; beny zip code wrong length; K-1 count override; decedent and grantor trust both checked; foreign beny needs “. ” in state field; Grantor Trust with unnecessary supporting statements – call for resolution).

PA-41
Accepted: 733 (63 firms)
Rejected: 4

08/22/2014 (6:30 pm): Version 2014-234 now available for download.

Primary additions:

1) CT-706/709 and CT-706 NT (and related extensions forms) for 2014

2) New “Out-of-Balance” reports: access from green “OOB” button at the top of the main Transact screen, or the larger green button toward the bottom right of the screen. These screens should allow you to pinpoint potential out-of-balance transactions (or transactions missing bank names) almost instantly.

Click on a line in the report (to highlight in yellow), then click on Sched in left column (with gray shading) to navigate to details for that transaction.

Also, click on Prev/Next buttons (or press Ctrl-Up or Ctrl-Down) to navigate to other records in that found set.

e-file statistics (through 07/07/2014):

1041
Accepted: 1,799 (116 firms)
Rejected: 31 (beny EIN missing digits; beny zip code wrong length; K-1 count override; decedent and grantor trust both checked; foreign beny needs “. ” in state field; Grantor Trust with unnecessary supporting statements – call for resolution).

PA-41
Accepted: 719 (63 firms)
Rejected: 4

02/27/2014 (12:25 am): Version 2014-058 is now available for immediate download. Please refer to e-mail for details.

02/26/2014 (8:15 am): Version 2014-057 is now available for immediate download.

02/25/2014 (5:00 pm): Version 2014-056 is now available for immediate download. It resolves the several issues on Schedule D and Form 8949 (new this year for estates and trusts) that were reported during the past 48 hours.

It also restores continuation Schedule D-1 for capital gains being shown (as aggregate numbers) on Lines 1a and 8a of Schedule D. Although the IRS announced that Schedule D-1 will no longer be used in 2013 and later, that schedule is still useful (as an observant user pointed out) as a non-filing report that can be used to reconcile against the original data.

Also, we received permission yesterday to share an outstanding article by John Goldsbury of U.S. Trust entitled “Dealing with the 23.8% tax on trust capital gains: 21 ways (and counting) to have a trust’s capital gain taxed to the beneficiary”. This could be helpful as you consider making distributions on or before 3/6/2014 in order to shift capital gains from the fiduciary’s 23.8% maximum rate to lower rates on beneficiary K-1s for 2013 purposes. You may download this article from the above list of download files, right below “Visual Tax Table”.

02/22/2014 (12:30 pm): The 2013 fiduciary income tax update (1041 plus 12 states) is now available for immediate download.