Roth Distributions and Rollover
Enter most retirement income information – such as data related to Roth distributions and rollovers – using the 1099, 8606, and Roth screens. [CC]
Other videos in this category:
Beginning in 2018 the previous federal deduction for employee business expenses reported on Form 2106 has been suspended unless the taxpayer meets certain criteria. [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.
Learn how Minimum Essential Coverage, exemptions, and the Individual Shared Responsibility Payment impact tax preparation. [CC]