Form 1040 for 2017

[Edsel]

Can it be that the IRS still hasn't released the 2017 form 1040?  The new law is passed and as far as I know does not affect 2017.  Haven't heard from Drake either, I assume they are held up for the same reason.

[Margaret CPA in OH]

Hmm, ATX has 1040 as of Nov. 27, vs 180.

[jklcpa]

Margaret, is that form with the Nov date marked as draft, and is that Nov date possibly when ATX made it available or the date of the latest IRS draft?  I'm asking because the IRS page of draft forms shows that the date of the latest draft of the 1040 is 9/29/17 on this page:  https://apps.irs.gov/app/picklist/list/draftTaxForms.html

Edsel, there are a couple of changes to 2017 in the new law:  medical limitation on Sch A goes back to 7.5% for 2017 and 2018, and increase in bonus depreciation rate for certain assets after 9/27/17, and some rules about excessive compensation after 11/2/17.

 

[Margaret CPA in OH]

Good question, Judy.  I didn't open it earlier but have now.  It is marked Draft.  I would think it may be possible to begin preparation soon, however, but not print or efile since it is so early.  I'm just happy to see 1041, even a draft, as the trust returns I do ( last year, hooray!) can be started as soon as the December statements are available.  Then I just wait until the 1099's are online to double check allocations (until the corrected ones appear).  It just feels good to begin something before the deluge arrives!