CCH® ProSystem fx® Planning: v2021.01000 Release Notes
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CCH ProSystem fx Planning: v2021.01000 Release Notes
- CCH ProSystem fx Planning
Click the attached PDF to view the complete CCH ProSystem fx Planning Release Notes v2021.01000.
New in this Release
- Multiple qualified business income entries can be associated to one passthrough entity.
- State Net operating loss entries. For applicable states these entries are used to determine state specific NOL deduction allowed.
- State setup option to not conform with Federal NOL CARES Act provisions.
- Option to report one third of taxable retirement distribution in accordance with the CARES Act.
- Federal inflation adjustments
- Tax rate schedule
- Standard deduction
- Exemption amounts
- Capital gain zero and 15 percent endpoints
- Earned income credit amounts
- AMT exemption amounts
- Adoption credit limits
- AGI limits for IRA contributions
- AGI limits for retirement contributions credit
- Excess loss limitation thresholds
- Qualified business income thresholds
- Pension plan limits
State Tax Rate Schedule Update
- Iowa 2021 tax rate schedule
- Maine 2021 tax rate schedule
- Oregon 2021 tax rate schedule
State Standard Deduction and Exemption Updates
- Iowa 2021 standard deduction amounts
- Kentucky 2021 standard deduction
- Oregon 2021 standard deduction and exemption amounts