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TurboTax 2012 Update Notes (Business)

What's in the current TurboTax Business federal program update?

Release 17 (R17) – April 26, 2013

R17 fixes the issue Startup Costs Doubled After Editing.

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

Previous Update Releases

Release 16 (R16) – April 3, 2013

R16 added recently-released IRS information about late-payment penalties and corrected several minor program issues.

Release 15c (R15c) – March 29, 2013

R15c corrected an issue introduced in the previous release (R15) that resulted in some customers being unable to edit income and expenses.

Release 15 (R15) – March 20, 2013

R15 removes the requirement for a Profit & Loss entry for prior-year QuickBooks customers as well as the Residential Real Estate Profit & Loss entry.

Release 14 (R14) – March 13, 2013

R14 fixes these issues:

  • E-filing error review, typos (Partner)
  • Qualified Domestic Trust exemption issues (Est/Trust)
  • (Enhancement) Added Michigan filing diagnostic (all)

Release 13 (R13) – March 6, 2013

R13 fixes this issue:

  • Schedule D, Line 12 Miscalculation (Est/Trust) - More info

Release 12 (R12) is exclusive to the personal (Form 1040/1040A/1040EZ) version of TurboTax and does not apply to TurboTax Business.

Release 11 (R11) – February 20, 2013

Final versions of Form 1041-ES, Estimated Payment Vouchers for Estates & Trust returns were released. With this release, all IRS forms and schedules are now final.

Release 10 (R10) – February 13, 2013

These program issues were fixed:

  • Unable To Enter Disposal Of An Intangible Asset - More info

Release 9 (R9) – February 6, 2013

Final versions of these forms and schedules were released:

  • Form 1116, Foreign Tax Credit (Est/Trust)
  • Form 1116 AMT, Foreign Tax Credit for AMT (Est/Trust)
  • Form 2210, Underpayment of Estimated Tax (Est/Trust)
  • Form 3800, General Business Credit (Corp, Est/Trust)
  • Form 4136, Credit for Federal Tax Paid on Fuels (Corp, S Corp, Est/Trust)
  • Form 5884, Work Opportunity Credit (Corp, S Corp, Partner)
  • Form 6478, Credit for Alcohol Used as Fuel (Corp, S Corp, Partner, Est/Trust)
  • Form 6765, Credit for Increasing Research (Corp, S Corp, Partner)
  • Form 8827, Credit For Prior Year Minimum Tax (Corp)
  • Form 8910, Alternative Motor Vehicle Credit - Hybrids (Corp, S Corp, Partner)
  • Schedule AI, Annualized Income Installment Method (Est/Trust)
  • Schedule C, Profit or Loss from Business (Est/Trust)
  • Schedule D, Capital Gains and Losses (Est/Trust)
  • Schedule E, Supplemental Income and Loss (Est/Trust)
  • Schedule J, Accumulation Distribution for a Complex Trust (Est/Trust)

Release 8 (R8) – January 24, 2013

Final versions of these forms and schedules were released:

  • Form 1041, U.S. Income Tax Return for Estates and Trusts
  • Form 1065, Return of Partnership Income
  • Form 1120, U.S. Corporation Income Tax Return
  • Form 1120S Income Tax Return for an S Corporation
  • Form 3468, Investment Credit (Partner)
  • Form 4562, Depreciation and Amortization (Partner, Est/Trust)
  • Form 8949, Sales and Other Dispositions of Capital Assets (Corp, S Corp, Partner)
  • Schedule D, Capital Gains and Losses (Corp, S Corp, Partner)
  • Schedule K-1, Beneficiary's Share of Income, Deductions, Credits (Est/Trust)

Release 7 (R7) – January 16, 2013

Final versions of these forms and schedules were released:

  • Form 1041-T, Allocation of Estimated Tax to Beneficiaries (Est/Trust)
  • Form 1120-H, US Income Tax Return for Homeowners Associations (Corp)
  • Form 1120-W, Estimated Tax for Corporations (Corp)
  • Form 1125-A, Cost of Goods Sold (Corp, S Corp, Partner)
  • Form 1125-E, Compensation of Officers (Corp)
  • Form 2220, Underpayment of Estimated Tax (Corp, S Corp)
  • Form 3468, Investment Credit (Corp, S Corp, Partner)
  • Form 4562, Depreciation and Amortization (Corp, S Corp, Partner)
  • Form 4626, Alternative Minimum Tax - Corporations (Corp)
  • Form 4797, Sales of Business Property (Corp, S Corp, Partner, Est/Trust)
  • Form 4952, Investment Interest Expense Deduction (Est/Trust)
  • Form 6781, Section 1256 Contracts and Straddles (Corp, S Corp, Partner)
  • Form 8453, Declaration for an IRS e-file Return (Corp)
  • Form 8453-S, Declaration for an IRS e-file Return (S Corp)
  • Form 8453-PE, Partnership Declaration for an IRS e-file Return (Partner)
  • Form 8801, Credit for Prior Year Minimum Tax (Est/Trust)
  • Form 8835, Renewable Electricity Production Credit (Corp, S Corp, Partner)
  • Form 8846, Credit for Employer Taxes Paid on Certain Employee Tips (Corp, S Corp, Partner)
  • Form 8916A, Supplemental Attachment to Schedule M-3 (Corp, S Corp, Partner)
  • Form 8941, Credit for Small Employer Health Insurance Premium (Corp, S Corp, Partner, Est/Trust)
  • Schedule C, Additional Information for Schedule M-3 Filers (Partner)
  • Schedule D-1, Continuation Sheet for Sch D (1041) (Est/Trust)
  • Schedule F, Profit or Loss from Farming (S Corp, Partner)
  • Schedule K-1, Shareholder's Share of Income, Credits, Deductions, etc. (S Corp, Partner)
  • Schedule M-3, Net Income (Loss) Reconciliation (Corp, S Corp, Partner)
  • Schedule N, Foreign Operations of US Corporations (Corp, S Corp)
  • Schedule O, Consent Plan & Apportionment Schedule for a Controlled Group (Corp)
  • Schedule PH, U.S. Personal Holding Company (PHC) Tax (Corp)
  • Schedule UTP, Uncertain Tax Position Statement (Corp)

Releases 2–6a are exclusive to the personal (Form 1040/1040A/1040EZ) versions of TurboTax and do not apply to TurboTax Business.

Release 1 (R1) – This is the original "manufacturer's release" of TurboTax Business software which became available on November 12, 2012. It is not an update.

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