TurboTax 2011 Update Notes (Business)

Release 17 (R17) – April 25, 2012

These issues were fixed:

• Interview loop when disposing of rental real estate or farm casualty assets (Corporations, S Corporations, Partnerships)
• Form 3800 carryover credits not flowing to Carryover Worksheet (Estates & Trusts)
• Radio button selections on "Describe This Asset" screen not being maintained through interview (S Corporations, Partnerships)
• IRS Rejection Code F1065-056 when Forms 8609-A and 8586 are included in return (Partnerships)
• IRS Rejection Code F5884B-001 when Form 5884-B, Lines 9 and 10 are blank due to Pass-Through Credit (Partnerships)

In addition, R17 incorporates all items from previous releases, listed below.

Release 16 was a TurboTax Online-only release. No business software update was released.

Release 15b (R15b) – April 14, 2012

R15b resolves a printing issue caused by conflicts between TurboTax and recently-released Windows updates. More info

Release 15a (R15a) – April 3, 2012

These issues were fixed:

• First page of Form 6765 fails to print with tax return
• Installment Sale interview loop (S Corporations, Partnerships)
• Program crash with error code 18843892136 (S Corporation)
• Program crash with error code 18418147217 (Partnerships)
• Depreciation issue (all return types) and balance sheet requirement on Good News! screen (Partnerships)

Program enhancements in this release include:

• Adding Guaranteed Payment and Partner Distribution options to business profile (S Corporation, Partnerships)
• Adding Dispose of Business Assets option when business profile is Rental Real Estate or Farm (S Corporation, Partnerships)
• Allowing negative adjustments to interest/dividend income (Estates & Trusts)
• Checking for Health Insurance Premium Credit if insurance premiums are deducted (Corporation, S Corporation, Partnerships)

Release 15 (R15) – March 21, 2012

This issue was fixed: Tax Payment Screen Incorrectly Displays EFTPS (Corporations). More info

Release 14 (R14) – March 14, 2012

These issues were fixed:

• "Get Organized" screen for balance sheets appears multiple times in interview (Corporation)
• Blank "Estimated Tax" screen (Estates & Trusts)
• Credits (Liabilities) imported from QuickBooks are showing up as negative numbers on the Balance Sheet (Partnerships)
• Program crashes after clicking "Continue" on "Qualified Disaster Area" screen (Partnerships)
• Program crashes after entering shareholder name or Social Security number (S Corporations)

Release 13 (R13) – March 7, 2012

These issues were fixed:

• "Client Billing Options: Form description-87 has too many characters" error and General Business Credit Carryover Worksheet calculation issue (S Corporation, Corporation)
• "TEFF is being indexed [501] outside of its defined range" error and Credit Forms Detail For Reporting Purposes fails to print(Partnerships)
• (Enhancement) Improvements to the Balance Sheet interview

There was no Release 12 in TurboTax Business 2011.

Release 11 (R11) – February 23, 2012

Final versions of these forms were released:

• Form 5884, Work Opportunity Credit (Corporations, Partnerships)
• Form 8850, Certification Request for Work Credits (Corporations, Partnerships)

With this release, all 2011 federal forms supported in the TurboTax Business product are now final.

Release 10 (R10) – February 17, 2012

Final versions of these forms were released:

• Form 3800, General Business Credit (Corporations, Estates & Trusts)
• Form 5884, Work Opportunity Credit (S Corporations)
• Form 8850, Certification Request for Work Credits (S Corporations)
• Form 8910, Alternative Motor Vehicle Credit - Hybrids (Corporations)

Release 9 (R9) – February 8, 2012

Final versions of these forms and schedules were released:

• Form 1041, Income Tax Return for Estates and Trusts
• Form 1041-ES, Estimated Payment Vouchers
• Form 1116, Foreign Tax Credit (Estates & Trusts)
• Form 1120-W, Estimated Tax for Corporations
• Form 3468, Investment Credit (Corporations, Partnerships)
• Form 6765, Credit for Increasing Research Activities (Corporations, S Corporations, Partnerships)
• Form 6781, Section 1256 Contracts and Straddles (Corporations S Corporations, Partnerships)
• Form 8801, Credit for Prior Year Minimum Tax (Estates & Trusts)
• Schedule D, Capital Gains and Losses (Estates & Trusts)
• Schedule I, Alternative Minimum Tax (Estates & Trusts)
• Schedule J, Accumulation Distribution for a Complex Trust
• Schedule K-1, Beneficiary's Share of Income, Deductions, Credits (Estates & Trusts)
• Schedule K-1 Entry Worksheet for Estates/Trusts (Estates & Trusts)
• Schedule UTP, Uncertain Tax Position Statement (Corporations)

Release 8b (R8b) – February 3, 2012

Final versions of these forms and schedules were released for S Corporation returns:

• Form 1120S, Income Tax Return for an S Corporation
• Form 3468, Investment Credit
• Schedule K-1, Shareholder's Share of Income, Credits, Deductions

Release 8a (R8a) – January 30, 2012

R8a fixes an intermittent crash issue when opening TurboTax for Business.

Release 8 (R8) – January 24, 2012

Final versions of these forms and schedules were released

• Form 1041-T, Allocation of Estimated Tax to Beneficiaries (Estates & Trusts)
• Form 1065, Return of Partnership Income
• Form 1120, Corporation Income Tax Return
• Form 1120-H, Income Tax Return for Homeowners Associations (Corporations)
• Form 1125-A, Cost of Goods Sold (Corporations, S Corporations, Partnerships)
• Form 1125-E, Compensation of Officers (Corporations)
• Form 2210, Underpayment of Estimated Tax (Estates & Trusts)
• Form 2210, Penalty Statement (Estates & Trusts)
• Form 2220, Underpayment of Estimated Tax (Corporations, S Corporations)
• Form 4136, Credit for Federal Tax Paid on Fuels (Corporations, S Corporations, Estates & Trusts)
• Form 4626, Alternative Minimum Tax (Corporations)
• Form 4797, Sales of Business Property
• Form 5884, New Hire Retention Credit (Corporations, S Corporations, Partnerships)
• Form 5884-B, New Hire Retention Credit (Corporations, Partnerships)
• Form 8582, Passive Activity Loss Limitations (Estates & Trusts)
• Form 8586, Low-Income Housing Credit (Corporations, S Corporations, Partnerships)
• Form 8827, Credit For Prior Year Minimum Tax (Corporations)
• Form 8916A, Supplemental Attachment to Schedule M-3 (Corporations, Partnerships)
• Form 8941, Credit for Small Employer Health Insurance Premium (Corporations, S Corporations, Partnerships)
• Schedule C, Profit or Loss from Business (Estates & Trusts)
• Schedule D, Capital Gains and Losses (Corporations, S Corporations, Partnerships)
• Schedule E, Farm Rental Income and Expenses Worksheet (Estates & Trusts)
• Schedule K-1 Entry Worksheet for S Corp (Estates & Trusts)
• Schedule K-1 Entry Worksheet for Partnerships (Corporations, S Corporations, Estates & Trusts)
• Schedule K-1, Partner's Share of Income, Credits, Deductions, etc. (Partnerships)
• Schedule O, Consent Plan and Apportionment Schedule for a Controlled Group (Corporations)
• Schedule M-3 (Form 1120), Net Income (Loss) Reconciliation for Corpd with > $10M Total Assets (Corporations)
• Schedule N, Foreign Operations of U.S. Corporations (Corporations, S Corporations)
• Schedule PH, U.S. Personal Holding Company (PHC) Tax (Corporations)

Release 7 (R7) – January 18, 2012

R7 introduced minor fixes and enhancements to TurboTax Business. No new forms were released.

There was no Release 6 in TurboTax Business 2011.

Release 5 (R5) – January 10, 2012

Several issues were fixed in this release, including:

• PRD.INI or PERWIN.INI error upon launch. More info
• Problem Reporter crashing in certain instances 
• Incorrect wording on Print and Save Center screen

Release 4 (R4) – December 15, 2011

Final versions of these forms and schedules were released:

• Form 1125-A, Cost of Goods Sold (S Corporation)
• Form 2220, Underpayment of Estimated Tax (S Corporation)
• Form 2220 Sch A, Adjusted Seasonal and Annualized Income Installment Methods (S Corporation)
• Form 4562, Depreciation and Amortization
• Form 4684, Casualties and Thefts
• Form 4952, Investment Interest Expense Deduction (Estate/Trust)
• Form 6478, Credit for Alcohol Used as Fuel
• Form 8308, Sale or Exchange of Partnership Interest (Partnership)
• Form 8453, U.S. Corporation Income Tax Declaration for an IRS E-File Return (Corporation)
• Form 8453-PE, Partnership Declaration for an IRS e-file Return (Partnership)
• Form 8453-S, Declaration for an IRS e-file Return (S Corporation)
• Form 8835, Renewable Electricity Production Credit (Corporation, S Corporation, Partnership)
• Form 8846, Credit for Employer Taxes Paid on Certain Employee Tips (Corporation, S Corporation, Partnership)
• Form 8916A, Supplemental Attachment to Schedule M-3 (S Corporation)
• Schedule C, Additional Information for Schedule M-3 Filers (Partnership)
• Schedule D, Gains/Losses/Built-In Gains (S Corporation)
• Schedule D-1, Continuation Sheet for Sch D (Partnership)
• Schedule F, Profit or Loss from Farming (S Corporation, Partnership, Estate/Trust)
• Schedule M-3 (S Corporation, Partnership)

There was no Release 2 or Release 3 in TurboTax Business 2011.

Release 1a (R1a) – November 30, 2011

R1a is a bug fix that corrected a Forms Mode crash issue. More info

No forms were included in this release.

Release 1 (R1) – This is the original "manufacturer's release" of TurboTax Business software which became available on November 10, 2011. It is not an update.