Schedule K-1 - summary of changes

IMPLEMENTATION PLAN for 1041 (SCH K-1)
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October 8, 2009

Page 2 of 2

P.L. 110-245, Heroes Earnings Assistance and Relief Tax Act of 2008
Action
Number
67.00006

Act
Section
111

IRC
Section
45P

Description of Action
Revise product to reflect the termination of the credit for employer
differential wage payments to employees who are active duty
members of the uniformed services.

Date Type Effective Date Target Date Actual Date
A

17-JUN-2008 24-NOV-2010

P.L. 110-28, U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability
Appropriations Act
Action
Number
67.00004

Act
Section
8211

IRC
Section

Description of Action
Revise product to reflect the termination of the work opportunity credit.

51

Date Type Effective Date Target Date Actual Date
ADOE

26-MAY-2007 26-NOV-2012

P.L. 109-432, Tax Relief and Health Care Act of 2006
Action
Number
67.00021

Act
Section
102

IRC
Section
45D

Description of Action
Revise product to reflect the sunset of New Markets tax credit.

Date Type Effective Date Target Date Actual Date
DOE

20-DEC-2006 13-DEC-2015

P.L. 109-222, Tax Increase Prevention and Reconciliation Act of 2005
Action
Number
67.00041

Act
Section
102

IRC
Section
1(h)

Description of Action
Revise form to reflect the expiration of qualified dividends and the
return of qualified 5-year gains. (Note: This act sec extends the date in
PL 108-27, act sec 303 by 2 years.)

Date Type Effective Date Target Date Actual Date
TYBA

31-DEC-2010 14-DEC-2011

P.L. 109-73, Katrina Emergency Tax Relief Act of 2005
Action
Number
67.00025

Act
Section
202

Total Action Items: 5

IRC
Section

Description of Action
Revise product to remove the employee retention credit to list of codes
for box 13.

Date Type Effective Date Target Date Actual Date
23-SEP-2005 15-DEC-2006

Major Changes to 2009 Schedule K-1 (Form 1041),
Beneficiary’s Share of Income, Deductions, Credits, etc.
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On page 2, lines 11E and 12A, we updated the line references to Form 6521 to
reflect a WRN dated 3/09/2009.
On page 2, lines 13A and 13B, we updated the line references to Form 1040 to
reflect a WRN dated 4/09/2009.
On page 4, in the instructions for Box 12—Alternative Minimum Tax Items, we
updated the line reference to Form 6521 to reflect a WRN dated 3/09/2009.
On page 4, in the instructions for Box 13, Code E. Basis of other investment credit
property, we deleted the energy credit and the line references to Form 3468, lines
5c, 5f, and 5i to reflect a WRN dated 4/08/2009. Additionally, we added
language regarding the qualifying advanced energy project credit to reflect a
WRN for Form 3468 dated 2/20/2009.
We updated the dates throughout the Schedule.