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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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.
Answer the virtual currency question on Forms 1040 and 1040-SR
Easily track repayment of the Home Buyer’s Tax Credit by entering data into Form 5405 on the Home screen.