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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Learn how Minimum Essential Coverage, exemptions, and the Individual Shared Responsibility Payment impact tax preparation. [CC]
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.
Due to IRS Security Summit initiatives designed to help prevent identity theft, the IDS screen is required on every individual return for e-file. [CC]