CCH Axcess prepares the Idaho fiduciary return for complex trusts, simple trusts, decedent's estates and Grantor trusts. A letter reporting tax information related to a custodial/agency account is also available. Returns can be processed for calendar, fiscal and short-year estates and trusts. Using entries from the federal return and the Idaho General Information, Income/Deductions, Taxes, Credits, and Other worksheets, the following forms and schedules are prepared:
Form 2848, Power of Attorney
Form EFVP, Electronic Filing Voucher Payment
FormVP, Voucher Payment
Form 41ES, Estimated Tax/Extension of Time Payment
Form 44, Business Income Tax Credits and Credit Recapture
Form 66, Idaho Fiduciary Income Tax Return
ESBT, Electing Small Business Trust Tax Calculation
Schedule K-1, Beneficiary's Information
PTE-12, Idaho Schedule for Pass-Through Owners
Grantor Letter, Grantor Trust
Nonresident Grantor Letter, Grantor Information Letter
Tax Information Letter, Custodial/Agency Account
Nonresident Tax Information Letter, Nonresident Custodial/Agency Account
To process an Idaho resident return, enter "ID" in the Home State Code field on the Basic Data > General section.
Job Creation and Worker Assistance Act of 2002 (HR 3090). Idaho does not conform to the federal JCWA/JGTRRA Act. Idaho nets the depreciation difference and reports it on Form 66, Page 2, Schedule B, Line 5, "Addition for Bonus Depreciation," if the difference is positive, or on Line 8, "Subtraction for bonus depreciation" when the difference is negative. The state bonus depreciation adjustment can be suppressed on the Depreciation and Depletion Options > Depreciation Options > using the Suppress all state bonus depreciation adjustments field, or overridden on the Depreciation and Amortization (4562) > Detail view, General > Bonus depreciation options field and the Bonus depreciation field (Note that entry in state column is an override entry) of the Business, Passthrough Entities, Rent and Royalty, Farm / 4835, and Income and Deductions worksheets. An override for the fiduciary's share of the adjustment is located on Common State - General > State Information and Overrides > Total Bonus depreciation adjustment - override field, and the beneficiary's share on the Beneficiary Information > Detail view, State K-1 Information > JCWA/JGTRRA depreciation field.
Multi-state Processing & Nonresident Returns. The Idaho return can be processed as the resident or a nonresident state.
To process an Idaho nonresident return, check the Nonresident estate or trust field on the Idaho > General > Basic Data section.
Nonresident Returns. For nonresident estates or trusts, use the FS and State code fields to report Idaho source income.
FS Codes and State Codes. The FS and State code fields provide the ability to control which entries carry to the federal and/or state tax return(s). The various combinations of the two codes used separately or in conjunction with one another will result in the inclusion of information on the federal and/or state return(s) in the following manner:
FS
State
Returns
Blank
Blank
Federal and home state
F
Blank
Federal only
S
Blank
Home state only
Blank
XX
Federal and indicated state **
F
XX
Federal and indicated state
S
XX
Indicated state only
The first column is the FS code. The word "Blank" indicates no entry was made in the FS code field. The only other possible entries are "F" or "S".
The second column is the State code. The word "Blank" indicates no entry was made in State code . "XX" represents the alphabetic state code.
The third column specifies the returns that will include the entries in the related fields.
** On multi-state returns, this entry will be included in income on the federal return, the resident state return and the indicated state return. This entry scheme applies to items of income only. See the multi-state section of the federal instruction guide for information pertaining to the treatment of deductions, beneficiary allocations, footnotes, etc.
State Disclosure and Use of Information
By using a computer system and software to prepare and transmit my client's return electronically, I consent to the disclosure of all information pertaining to my use of the system and software to create my client's return and to the electronic transmission of my client's tax return to the Idaho State Tax Commission, as applicable by law.
State Refund Statement
Typical time frames are 7-8 weeks for e-filed returns and 10-11 weeks for paper returns. There are some exceptions. For more information, please visit our website.