2020 ProSeries/North Carolina Readme
Release 2020.840
Contents
Items addressed in this release
Items addressed in previous releases
What's new for ProSeries/North Carolina
Forms
Additional information
Electronic filing
Items addressed in this release
- You can file amended returns electronically with this version of ProSeries/North Carolina.
Items addressed in previous releases
- Multiple Firms - There was an issue where the usage of multiple firms was
causing an erroneous error message to trigger when e-filing.
- Form D-400 Schedule S: new entry fields added to enter bonus
depreciation addback and other adjustments for Schedule K-1s.
- Corrected error checking on Veteran information.
- General Error Messages - An error message was added to prevent the
filing of returns with an RRB-1099-R and the newly added Form 8915-E
until we can fully update the calculations in the program.
- Form D-400 Schedule S, Line 5: new entry field added to enter state,
local or foreign income tax deducted by certain S-corporations,
partnerships, and estates and trusts under section 164.
- Form D-400 Schedule PN-1: new entry fields added to enter other addition
and deduction adjustments for Schedule K-1s.
- Computation of North Carolina Taxable Income for Part-Year Residents
and Nonresidents: new entry fields added to enter other addition
and deduction adjustments for Schedule K-1s.
- The charitable contribution amount on NC Standard/Itemized Deduction
worksheet is limited to 60% of AGI.
- Form D-400, Line 7, Additions to Federal Adjusted Gross Income, adds
back the amount of unemployment compensation excluded from federal
adjusted gross income.
- North Carolina Department of Revenue extends individual filing and
payment to May 17.
- Error checking, general enhancements. Error checks updated.
- Retirement Distributions with Form 8915 - Calculation of
retirement exclusion amount(s), when a distribution is taken due to disaster
or COVID-related event and a 8915 is filed, has been updated.
- Schedule S, Part B, lines 23 and 24: smart worksheets added for
Schedule K-1 related adjustments that are specifically identified to
years 2015 through 2019.
- All forms, schedules, and worksheets were updated and finalized in previous
releases.
What's new for ProSeries/North Carolina
The following items are new for tax year 2020:
- Form D-400 Schedule A - North Carolina Itemized Deductions. If
you choose to itemize North Carolina deductions, this schedule must be
attached to Form D-400.
- Form D-400 Schedule PN-1 - If not a full-year resident of North
Carolina, this schedule is used to report North Carolina additions and
deductions that relate to gross income not specifically listed on Form
D-400, Schedule PN.
- Adjustments to Federal Adjusted Gross Income (AGI): Additions -
North Carolina did not follow all of the provisions of the federal
Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). To
the extent these provisions result in items of income that are not
included in federal AGI but are taxable to North Carolina, complete
Form D-400, Schedule S, Part A.
- Adjustments to Federal Adjusted Gross Income (AGI): Extra Credit
Grant Deduction - The North Carolina General Assembly enacted
legislation that provided a payment of $335 to individuals who were
eligible to receive a grant under the Extra Credit Grant program. If
you included the payment in the computation of federal AGI, you may
deduct the payment from North Carolina taxable income. Complete Form
D-400, Schedule S, Part B.
- Charitable Deduction Limits Worksheet - North Carolina does not
allow an individual to deduct qualified contributions of up to 100% of
federal adjusted gross income (AGI). This worksheet calculates the
deduction allowed for the year.
- Underpayment of Estimated Tax Interest - Because pf the
COVID-19 pandemic, the North Carolina Department of Revenue Secretary
will waive the accrual of interest between April 15, 2020, and July 15,
2020 on estimated tax payments due during the COVID period.
Forms
North Carolina returns can be filed in this release.
The North Carolina Department of Revenue has approved for filing all forms and schedules included in ProSeries/North Carolina.
Additional information
Check all returns
The North Carolina Department of Revenue scans computer-generated forms to
quickly process the income tax returns they receive. To meet the requirements
for producing computer-generated forms, ProSeries is required to limit the width
of the tax information printed on forms that are scanned. In certain cases, data
you entered may be truncated. After completing a tax return, review the
information that prints (for example, mailing address information), make any
necessary changes, and reprint the return before mailing it.
Electronic Filing
General information for electronic filing:
You can file returns electronically with this version of ProSeries/North Carolina.
For a list of forms that can be e-filed, go to the What's New for North
Carolina.
End of ReadMe file for ProSeries/North Carolina