CCH® ProSystem fx® Planning: v2020.02000 Release Notes
- Article Type:
- Documentation
- Last Modified:
- 11/05/2022
Objectives
CCH ProSystem fx Planning: v2020.02000 Release Notes
Environment
- CCH ProSystem fx Planning
- v2020.02000
Details
Click the attached PDF to view the full release notes for CCH ProSystem fx Planning: Release v2020.02000.
New in this Release
H.R. 1865, Further Consolidated Appropriations Act of 2020
- Extension of tuition and fees deduction
- Extension of deduction for mortgage insurance premiums
- Extension of nonbusiness energy property credit
- Medical expense floor lowered to 7.5% of AGI
- Standard deduction can be increased by qualified disaster related to a personal casualty loss
- Election to use prior year earned income to calculateĀ earned income credit and refundable child credit amount
Qualified business income passthrough information fields added
- Qualified Business income - Override
- Publicly Traded Partnerships for QBID?
- Section 199 A PTP Income - Override
- Rental Income or Loss
- Royalty Income or Loss
- Section 1231 Gain or Loss
- Charitable Contributions
- Other Income
- Other Deductions
- QBI Received from Cooperative
- W-2 Wages Received from Cooperative
Net Operating adjustment field
- Calculation modified to be before AGI, previously it was after AGI
Nonresident States Added
- Idaho
- Utah
- All applicable nonresident states are available now
2020 Updates
State Tax Rate Schedule Update
- Iowa 2020 tax rate schedule
- Maine 2020 tax rate schedule
- Massachusetts 2020 tax rate
- Missouri 2020 tax rate schedule
- North Dakota 2020 tax rate schedule
- Utah 2020 tax rate schedule
State Standard Deduction and Exemption Updates
- Iowa 2020 standard deduction amounts
- Utah 2020 exemption
Additional Information
N/A
Solution Id | 000226179/000107319 |
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