USA Tax year export
The following describes the enhancements included in the December 2021 update.
Tax packages
Updated the following tax packages to support the 2021 tax year:
- CCH ProSystem fx® Tax
- CCH Axcess™ Tax
- GoSystem Tax®
- Lacerte® Tax
- UltraTax® CS
Tax export codes
Updated the following US 2021 tax export codes:
CCH Prosystem fx® Tax, CCH Axcess™ Tax
Tax Entity | Code | Description | Change |
---|---|---|---|
Corporation | 26.EF | Meals & Entertainment (100% Allow) | New code |
M107B | PPP Loans, EIDL, Oth COVID Grants | New code | |
S Corporation | 19.V | Meals & Entertainment (100% Allow) | New code |
K16B.B | PPP Loans, EIDL, Oth COVID Grants | New code | |
Partnership | 20.EF | Meals & Entertainment (100% Allow) | New code |
K18B.B | PPP Loans, EIDL, Oth COVID Grants | New code |
GoSystem Tax®
Tax Entity | Code | Description | Change |
---|---|---|---|
Partnership | K21L1 | Foreign taxes paid | New code and line change |
K21L2 | Foreign taxes accrued | New code and line change | |
K16L1 | Foreign taxes paid | Convert to K21L1 | |
K16L2 | Foreign taxes accrued | Convert to K21L2 | |
K04 | Guaranteed payments to partners - Services | Description updated | |
K04B | Guaranteed payments to partners - Capital | New code |
UltraTax® CS
Tax Entity | Code | Description | Change |
---|---|---|---|
Corporation | 26.EF | Meals & Entertainment (100% Allow) | New code |
1125A05.G | Meals fully deductible | New code | |
RENT02 | Meals fully deductible | New code | |
RENT03 | Meals subject to 50% limit | New code | |
F32C.A | Meals & Entertainment (100% Allow) | New code | |
430H | Meals fully deductible | New code | |
S Corporation | 19.V | Meals & Entertainment (100% Allow) | New code |
K14B | Gross income from all sources | Delete | |
K14C | Gross income sourced at shareholder level | Delete | |
K14G | Deduction-Shareholder - Interest expense | Delete | |
K14H | Deduction-Shareholder - Other | Delete | |
K14J | Deduction-Corporate - Listed category | Delete | |
1125A05.I | Meals fully deductible | New code | |
RENT02 | Meals fully deductible | New code | |
RENT03 | Meals subject to 50% limit | New code | |
F32C.A | Meals fully deductible | New code | |
430H | Meals fully deductible | New code | |
Partnership | 20.EF | Meals & Entertainment (100% Allow) | New code |
K21L1 | Foreign taxes paid | New code and line change | |
K21L2 | Foreign taxes accrued | New code and line change | |
K16L1 | Foreign taxes paid | Convert to K21L1 | |
K16L2 | Foreign taxes accrued | Convert to K21L2 | |
RENT02 | Meals fully deductible | New code | |
F32C.A | Meals fully deductible | New code | |
M3330C.A | Nondeductible expense subject to 2% P | Delete | |
M3330A.A | Nondeductible expense subject to 2% | Delete | |
M3330B.A | Nondeductible expense subject to 2% T | Delete | |
M104.I | Nondeductible expense subject to 2% | Delete |
Lacerte® Tax
Tax Entity | Code | Description | Change |
---|---|---|---|
Corporation | 26.EF | Meals & Entertainment (100% Allow) | New code |
S Corporation | 19.V | Meals & Entertainment (100% Allow) | New code |
K14B | Gross income from all sources | Delete | |
K14C | Gross income sourced at shareholder level | Delete | |
K14D | Foreign income sourced at corporate level - Passive | Delete | |
K14E | Foreign income sourced at corporate level - Listed category | Delete | |
K14F | Foreign income sourced at corporate level - General limitation | Delete | |
K14G | Deduction-Shareholder - Interest expense | Delete | |
K14H | Deduction-Shareholder - Interest expense | Delete | |
K14I | Deduction-Shareholder - Other | Delete | |
K14J | Deduction-Corporate - Passive | Delete | |
K14K | Deduction-Corporate - Listed category | Delete | |
K14N | Deduction-Corporate - General limitation | Delete | |
Partnership | 20.EF | Meals & Entertainment (100% Allow) | New code |
K21L1 | Foreign taxes paid | New code and line change | |
K21L2 | Foreign taxes accrued | New code and line change | |
K16L2 | Foreign taxes accrued | Convert to K21L2 | |
K16B | Gross income from all sources | Delete | |
K16C | Gross income sourced at partner level | Delete | |
K16D | Foreign gross income sourced at partner level - Passive | Delete | |
K16E | Foreign gross income sourced at partner level - Listed category | Delete | |
K16F | Foreign gross income sourced at partner level - General limitation | Delete | |
K16G | Deduction allocation and apportionment at partner level - Initial expense | Delete | |
K16H | Deduction allocation and apportionment at partner level - Other | Delete | |
K16I | Deduction allocation at partner level to foreign service income - Passive | Delete | |
K16J | Deduction allocation at partner level to foreign service income - Listed category | Delete | |
K16K | Deduction allocation at partner level to foreign service income - General limitation | Delete | |
K16M | Reduction in tax available for credit and gross income all sources | Delete |