Virtual Currency
Answer the virtual currency question on Forms 1040 and 1040-SR
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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.
Drake Tax's SALT Limitation Worksheet breaks down the deductions for the $10,000 State and Local Tax Deduction. [CC]
Learn how to use screen RRC to calculate any available Recovery Rebate Credit (Economic Impact Payment) that the taxpayer might be entitled to on the 2020 tax return.