How do I generate Massachusetts Form 63D-ELT and M-63D-EXT in an 1120S return using worksheet view in CCH® ProSystem fx® Tax or CCH Axcess™ Tax?
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- Problem Resolution
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This is the new return type for the pass-through entity tax election - the main form for which is the 63D-ELT. The extension form is the M-63D-EXT. Neither of these forms have been added to the software with releases 2021-2.7 /2021.02070 and prior.
- CCH Axcess Tax
- CCH ProSystem fx Tax
- Electronic Filing
- Form 63D-ELT
- Form M-63D-EXT
Electronic filing is required for both the 63D-ELT (main form) and M-63D-EXT (extension), and payment is required with the filing of the extension at the time the extension is filed.
- Available with release 2021.02071 (2021-2.7.1), available February 27th, 2022.
- Direct debit is available for the M-63D-EXT.
- Go to Federal Worksheets > Extensions > Extensions > Section 2 - State/City Extension (click detail), then go to the MA Worksheets > Other > Section 7 - Passthrough Entity Members' Information line 5 - Tentative tax - override.
- In Line 1 - State, select MA.
- In Line 3 - Special Code, input either of the following:
- 1 - This will generate both MA 355-7004 and Form M-63D-EXT.
- 4 - This will generate Form M-63D-EXT.
- Go to Massachusetts Worksheets > Other > Section 7 - Passthrough Entity Members' Information.
- In Line 5 - Tentative Tax - override, input an applicable amount.
- Calculate the return.
- During e-file export of Extensions, the 63D-EXT will have it's own row titled "Massachusetts Pass-Through Entity Extension."
- Electronic filing is required for both the 63D-ELT (main form) and M-63D-EXT (extension), and payment is required with the filing of the extension at the time the extension is filed.
- The regulations set forth in TIR 16-10 apply here as well - the extension is automatic if 80% of the tax has been paid by the original due date. If a payment is needed to extend, the payment is required with the filing of the extension at the time the extension is filed. You will not be able to export a zero balance due M-63D-EXT as it would result in a rejection.
The following information is as of February 28, 2022 for partnership system and may CHANGE with 1120S system:
- Projected for release 2021.03010 (2021-3.1), available March 20th, 2022. However this may change due to mid-week releases.
- Go to Massachusetts > Other worksheet.
- Expand Section 8 - Entity Level Tax.
- Select the checkbox Pass-though entity has elected to pay tax at the entity level.
- Calculate the return