Calculating QBI for Schedule C income
Calculate the qualified business income (QBI) deduction for income deriving from Schedule C. [CC]
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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.
Due to IRS Security Summit initiatives designed to help prevent identity theft, the IDS screen is required on every individual return for e-file. [CC]
The Split feature in the Data Entry menu helps you easily split returns for federal or state purposes. [CC]