This is the early release for tax year 2020.
NEW:
- All 2020 tax forms and instructions have been updated with IRS changes.
- All business rules and custom queries have been updated for 2020 form fields.
- All 2020 sample import files and Excel data shells have been added.
- All reports have been updated for 2020 tax form changes.
- All help files have been updated for 2020.
FORM CHANGES:
- Form 1096: New checkbox for 1099-NEC and calculation for 1099-PATR.
- Form 1098-F: New code for Box 8 - I - Payment to third party at the direction of a government or governmental entity.
- Form 1099-MISC:
- 2019 box 7 → 2020 box 9
- 2019 box 10 → 2020 box 9
- 2019 box 14 → 2020 box 10
- 2019 box 15a → 2020 box 12
- Removed box 14 and box 15b
- Form 1099-PATR:
- 2019 box 5 - Redemption of nonqualified notices and retain allocations → 2020 box 5 - Redeemed nonqualified notices
- 2019 Box 6 - Domestic production activities deduction → 2020 Box 6 - Section 199A(g) deduction
- 2019 Box 7 - Qualified payments → 2020 Box 7 - Qualified payments (Section 199A(b)(7))
- 2019 Box 8 - Investment credit → 2020 Box 8 - Section 199A(a) qual. items
- 2019 Box 9 - Work opportunity credit → 2020 Box 9 - Section 199A(a) SSTB items
- 2019 Box 10 - Patron's AMT adjustment → 2020 Box 10 - Investment credit
- 2019 Box 11 - Other credits and deductions → 2020 Box 11 - Work opportunity credit
- 2019 box 11 → 2020 box 12
- New box 13 - Specified Coop
- Form 1099-R:
- 2019 FATCA filing requirement → 2020 box 12
- 2019 Date of payment → 2020 box 13
- 2019 box 12 → 2020 box 14
- 2019 box 13 → 2020 box 15
- 2019 box 14 → 2020 box 16
- 2019 box 15 → 2020 box 17
- 2019 box 16 → 2020 box 18
- 2019 box 17 → 2020 box 19
- Form 1099-SB:
- 2019 ISSUER'S information contact name → 2020 Issuer's information contact name, street address, city or town, state or province, country, ZIP or foreign postal code and telephone no. (if different from ISSUER)
- Form 5498: New code for Box 14b - BA for reporting a repayment of a qualified birth or adoption distribution.
