Entering Multi-State W-2
Use the Additional Entries tab to report data exceeding the four fields provided on the W2 screen or school district wages in withholding. [CC]
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Calculate the qualified business income (QBI) deduction for income deriving from Schedule C. [CC]
Generate the Foreign Tax Credit on Schedule B for foreign-source income that would normally be taxed by both the US and the country from which the income is derived.
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.