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.
Other videos in this category:
Beginning January 1, 2018, the federal deduction for job-related moving expenses has been eliminated, except for certain military personnel. [CC]
Use Form 8915-E to report distributions due to Coronavirus and other disasters.
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.