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]
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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]
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.
Calculate the qualified business income (QBI) deduction for income deriving from Schedule C. [CC]