Calculating QBI for K-1 Income
Calculate the qualified business income (QBI) deduction for income deriving from 1065 and 1120S income reported on Schedule K-1. [CC]
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Advance CTC payments must be reconciled on the 2021 tax return. Excess advance payment amounts received will be required to be repaid in certain circumstances. To reconcile amounts received for the advance child tax credit, entries must be made on the 8812 screen in Drake Tax 2021.
Calculate the taxable portion of the state refund carry to next year's return when the taxpayers is subject to AMT. [CC]
Drake Tax automatically generates estimated tax payment vouchers for federal returns without requiring any data entry. [CC]