Why is there a Passthrough input column titled "Pre Cares Federal" in 1040 and 1041 returns following release 2019-4.2 of CCH Axcess™ Tax and 2019.04020 of CCH® ProSystem fx® Tax?

  • Article Type:
  • QA
  • Last Modified:
  • 09/08/2020

Question

Why is there a Passthrough input column titled "Pre Cares Federal" in 1040 and 1041 returns following release 2019-4.2 of CCH Axcess™ Tax and 2019.04020 of CCH® ProSystem fx® Tax?

Environment

CCH® ProSystem fx® Tax
CCH Axcess™ Tax
2019.04020
2019-4.2

Answer

The following is taken from the August 20th CCH Software News email distributed to customers registered to receive them via a CCH Software News Profile.
2019 Tax Updates
All Systems - The following states decoupled from the CARES Act:
  • Colorado
  • Iowa
  • Kentucky
  • Maine
  • Minnesota
  • New York
  • North Carolina
Pre-CARES federal calculations will be available for states to use the pre-CARES amounts, including new pre-CARES passthrough input capability. Iowa, North Carolina, Maine, Minnesota, and New York Individual, and all applicable Fiduciary states, will automatically use the pre-CARES calculations. Iowa, North Carolina, Maine, Minnesota, and New York (Partnership) Business states also will automatically use the pre-CARES calculations. All states have state-level overrides, if needed. All current year carryover calculations will be available for roll forward from 2019 to 2020. A new pre-CARES carryover report is available in Individual returns. Automatic pre-CARES calculations for Colorado and Kentucky Individual returns and applicable Business returns, a Fiduciary pre-CARES carryover report, Business-Business import/export for pre-CARES passthrough data, and pre-CARES carryover input fields will be available with the next release.

2018 Tax Updates

All Systems - The following states decoupled from the CARES Act:
  • Colorado
  • Iowa
  • Kentucky
  • Maine
  • Minnesota
  • New York
  • North Carolina
Pre-CARES federal calculations will be available for states to use pre-CARES amounts. Iowa, North Carolina, and Maine Individual and all applicable Fiduciary states will automatically use the pre-CARES calculations. Maine and Minnesota Business states will automatically use the pre-CARES calculations. All states have state-level overrides, if needed. Automatic pre-CARES calculations for Colorado, Kentucky, Minnesota, and New York Individual returns and Business states Colorado, Kentucky, New York Partnership, tax year 2018 pre-CARES carryover calculations, and pre-CARES passthrough input will be available with the next release.

Additional Information

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