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.
Calculate the taxable portion of the state refund carry to next year's return when the taxpayers is subject to AMT. [CC]
Enter expenses related to child and dependent care on Screen 2 and Screen 2441 for each dependent for whom expenses were incurred.