Foreign Tax Credit, Form 1116
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.
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If a taxpayer received a coronavirus-related distribution in 2020 and that amount was entered in Drake Tax 2020, information from the 2020 return will update to 2021. If not, enter the 2020 information on the 915F screen in Drake Tax 2021.
The DD screen allows you to set up direct deposit into a taxpayer’s account by the IRS, state, and some city departments of revenue. [CC]
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]