What's new - Caseware Taxflow Winter 2025 Release (v2.240.0)
Here's a list of what's new in the Caseware Taxflow Winter 2025 release.
New features and enhancements
Tax year 2024 updates
Caseware Taxflow now includes the latest 2024 tax exports and tax codes compatible with the following tax vendors:
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CCH ProSystem fx® Tax
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CCH Axcess™ Tax
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Lacerte© Tax
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GoSystem® Tax
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UltraTax CS
Updated the following US 2023 tax export codes:
CCH ProSystem fx® Tax, CCH Axcess™ Tax
Tax entity: S Corporation
| 2024 Code | Description | Change |
|---|---|---|
| K12C | Investment Interest Expense | Changed from K12B |
| K12D2 | Section 59(e)(2) expenditures | Changed from K12C2 |
| K12EH | Portfolio Deductions-Royalty | Changed from K12DH |
| K12EH.A | Portfolio Deductions-Royalty(Ovrd) | Changed from K12DH.A |
| K12EK | Other Portfolio Deductions | Changed from K12DK |
| K12EK.A | Other Portfolio Deductions(Ovrd) | Changed from K12DK.A |
| K12ER | Other Deductions | Changed from K12DR |
| K12ER.A | Meals and Entertainment | Changed from K12DR.A |
| K12ER.B | Form 4684 - ST Inc Prod Loss | Changed from K12DR.B |
| K12ER.C | Health Insurance | Changed from K12DR.C |
| K12ER.D | Life Insurance | Changed from K12DR.D |
| K12ER.E | Depletion | Changed from K12DR.E |
| K12ER.G | Other Deductions (Override) | Changed from K12DR.G |
GoSystem Tax®
Tax entity: S Corporation
| 2024 Code | Description | Change |
|---|---|---|
| K10E.M | Subpart F Income | New Code |
| K10E.N | Section 951(a)(1)(B) inclusions | New Code |
| K10I | G/L disp oil/gas/geothermal/oth mineral prop | New Code |
| K10J | Recoveries of tax benefit items | New Code |
| K10K | Gambling gains and losses | New Code |
| K10M | Gain Sec. 1045 rollover (stock purchased) | New Code |
| K10N | Gain Sec. 1045 rollover (no stock purchased) | New Code |
| K10O | Gain sale/exch QSB stock Sec. 1202 exclusion | New Code |
| K10S | Non-portfolio capital gain (loss) | New Code |
| K12BD | Non-Cash Charitable Contrib (50%) | Changed from K12AD |
| K12BE | Non-Cash Charitable Contrib (30%) | Changed from K12AE |
| K12BF | Non-Cash Charitable Contrib (20%) | Changed from K12AF |
| K12BH | Sch K: Contributions (100%) | Changed from K12AH |
| K12C | Investment Interest Expense | Changed from K12B |
| K12D2 | Section 59(e)(2) expenditures | Changed from K12C2 |
| K12EK | Other Portfolio Deductions | Changed from K12DK |
| K12EK.B | Sch K: Other Portfolio Deductions | Changed from K12DK.B |
| K12ER | Other Deductions | Changed from K12DR |
| K12ER.A | Meals and Entertainment | Changed from K12DR.A |
| K12ER.B | Form 4684 - ST Inc Prod Loss | Changed from K12DR.B |
| K12ER.C | Health Insurance | Changed from K12DR.C |
| K12ER.D | Life Insurance | Changed from K12DR.D |
| K12ER.E | Depletion | Changed from K12DR.E |
| K12ER.H | Sch K: Preproductive period expenses | Changed from K12DR.H |
| K12ER.I | Sch K: Rental real estate commercial revitalizati | Changed from K12DR.I |
| K12ER.J | Sch K: Reforestation expense deduction | Changed from K12DR.J |
| K12EW | Soil and water conservation | New Code |
| K12EX | Film, television, & theatrical prod exp | New Code |
| K12EY | Expenditures for removal of barriers | New Code |
| K12EZ | Itemized deductions | New Code |
| K12EAA | Contributions to capital construction fund | New Code |
| K12EAB | Penalty on early withdrawal of savings | New Code |
| K12EAC | Interest exp allocated debt-financed distrib | New Code |
Tax entity: Partnership
| 2024 Code | Description | Change |
|---|---|---|
| K11I | G/L disp oil/gas/geothermal/oth mineral prop | New Code |
| K11J | Recoveries of tax benefit items | New Code |
| K11K | Gambling gains and losses | New Code |
| K11L | Income/gain or loss distrib under Sec. 751(b) | New Code |
| K11M | Gain Sec. 1045 rollover (stock purchased) | New Code |
| K11N | Gain Sec. 1045 rollover (no stock purchased) | New Code |
| K11O | Gain sale/exch QSB stock Sec. 1202 exclusion | New Code |
| K11P | Gain/loss disp farm recap prop & oth Sec. 1252 | New Code |
| K11Q | G/L Fannie Mae/Freddie Mac qualif pref stock | New Code |
| K11S | Non-portfolio capital gain (loss) | New Code |
| K13EW | Soil and water conservation | New Code |
| K13EX | Film, television, & theatrical prod exp | New Code |
| K13EY | Expenditures for removal of barriers | New Code |
| K13EZ | Itemized deductions | New Code |
| K13EAA | Contributions to capital construction fund | New Code |
| K13EAB | Penalty on early withdrawal of savings | New Code |
| K13EAC | Interest exp allocated debt-financed distrib | New Code |
| K13EAD | Interest exp for working interest oil or gas | New Code |
Lacerte® Tax
Tax entity: S Corporation
| 2024 Code | Description | Change |
|---|---|---|
| K12BD | Non-Cash Charitable Contrib (50%) | Changed from K12AD |
| K12BE | Non-Cash Charitable Contrib (30%) | Changed from K12AE |
| K12BF | Non-Cash Charitable Contrib (20%) | Changed from K12AF |
| K12C | Investment Interest Expense | Changed from K12B |
| K12D2 | Section 59(e)(2) expenditures | Changed from K12C2 |
| K12ER | Other Deductions | Changed from K12DR |
| K12ER.A | Meals and Entertainment | Changed from K12DR.A |
| K12ER.B | Form 4684 - ST Inc Prod Loss | Changed from K12DR.B |
| K12ER.C | Health Insurance | Changed from K12DR.C |
| K12ER.D | Life Insurance | Changed from K12DR.D |
| K12ER.E | Depletion | Changed from K12DR.E |
UltraTax® CS
Tax entity: S Corporation
| 2024 Code | Description | Change |
|---|---|---|
| K12BI | Noncash contributions | Changed from K12AI |
| K12C | Investment Interest Expense | Changed from K12B |
| K12D2 | Section 59(e)(2) expenditures | Changed from K12C2 |
| K12EK | Other Portfolio Deductions | Changed from K12DK |
| K12EL | Reforestation expenses | Changed from K12DL |
| K12EM | Preproductive period expenses | Changed from K12DM |
| K12ER | Other Deductions | Changed from K12DR |
| K12ER.A | Meals and Entertainment | Changed from K12DR.A |
| K12ER.B | Form 4684 - ST Inc Prod Loss | Changed from K12DR.B |
| K12ER.C | Health Insurance | Changed from K12DR.C |
| K12ER.D | Life Insurance | Changed from K12DR.D |
| K12ER.E | Depletion | Changed from K12DR.E |
| K12ER.F | Penalty on early withdrawal | Changed from K12DR.F |
Tax entity: Partnership
| 2024 Code | Description | Change |
|---|---|---|
| K11J | Recovery of tax benefit items | New Code |
| K11K | Gambling gains and losses | New Code |
| K11L | G/L from a distr under 751(b) | New Code |
| K11N | Gain sec 1045, not purch pship | New Code |
| K11P | G/L disp farm recap property | New Code |
| K11Q | G/L Fannie Mae or Freddie Mac | New Code |
| K11B | S/T cap gain nondepr propty | New Code |
| K11C | L/T cap gain nondepr propty | New Code |
| K13EW | Soil and water conservation | New Code |
| K13EX | Film tele theatrical prod exp | New Code |
| K13EZ | Itemized deductions | New Code |
| K13EAA | Contributions to a CCF | New Code |
| K13EAC | Int exp alloc debt-finan distr | New Code |
| K13EAD | Int exp working int in oil gas | New Code |
| K13EK.D | Deductions - portfolio income | New Code |
| K13EY | Expend for removal of barriers | New Code |
Tax reconciliation documents
We’ve added a new series of Tax reconciliation – detail tax line and account documents. The document that appears depends on the engagement entity type:
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2-300 appears where the engagement entity type is C Corporation.
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2-350 appears where the engagement entity type is S Corporation.
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2-400 appears where the engagement entity type is Partnership.
This document shows the accounts mapped under each tax group, as well as group level tax (reclassifying and book-to-tax) adjustments.
Cloud Connector support
The 1120 U.S. C-Corporation income tax return, 1120S U.S. Income tax return for an S-Corporation, 1065 U.S. Return of partnership income and 1125-A Cost of goods sold documents now support Cloud Connector allowing you to link information from these documents into Microsoft Excel.
Create an engagement based on an existing file
We’ve added the ability to create new engagements based on an existing file. This allows you to take advantage of customizations you have made to a previous engagement so you don’t have to redo this work in a new engagement. See Create a new engagement based on an existing file.
