Learn the basics of Drake Tax with these short instructional videos.
Content with Closed Caption [CC] enabled is available by clicking [CC] in the video or its summary.
To learn about Drake Software products in a classroom setting, join us for classroom training or a live webcast. Click here for more information.
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.
Advance CTC payments must be reconciled on the 2021 tax return. Excess advance payment amounts received will be required to be repaid in certain circumstances. To reconcile amounts received for the advance child tax credit, entries must be made on the 8812 screen in Drake Tax 2021.
Learn how Minimum Essential Coverage, exemptions, and the Individual Shared Responsibility Payment impact tax preparation. [CC]
Prepare amendments to tax returns using the Data Entry menu to access the 1040X Amended Return screen. [CC]