Virtual Currency

Use Form 8915-E to report distributions due to Coronavirus and other disasters.

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.

Calculate the qualified business income (QBI) deduction for income deriving from 1065 and 1120S income reported on Schedule K-1.