Calculating QBI for K-1 Income
Calculate the qualified business income (QBI) deduction for income deriving from 1065 and 1120S income reported on Schedule K-1. [CC]
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Use the PMT screen to set up automatic fund withdrawal by the IRS, state, and some city departments of revenue.
Calculate the qualified business income (QBI) deduction for income deriving from Schedule C. [CC]
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.