User's Manual - Drake Software

Drake Software User’s Manual
Unemployment Compensation
The default position for investments (in Part II, Expenses) is that all investments are at
risk. If this is not true for your client, select Some investment is NOT at risk.
1099-PATR
Enter the distribution amount from Form 1099-PATR, Taxable Distributions Received
from Cooperatives, in the Co-op total distributions field on screen F.
Form 4835, Farm Rental Income and Expenses
Screen code: 4835
Farm Asset Depreciation
Use screen 4835 to enter data for Form 4835, Farm Rental Income and Expenses.
Note that this form is for individual (1040) returns only; estates and trusts must file
Schedule E, Part I, to report rental income and expenses from crop and livestock
shares.
Use screen 4562 (Depreciation Detail) to create depreciation schedules for Schedule
F and Form 4835. From the For drop list on screen 4562, select either F or 4835, as
applicable. For more on entering depreciation data, see “Depreciation” on page 165.
Unemployment Compensation
Unemployment compensation amounts should be entered, as applicable, in the fields
described in Table 5-4.
Table 5-4: Entering Unemployment Compensation in Drake
Unemployment
Compensation
Information from 1099-G
Any prior-year amounts, repaid;
to claim repayments
(See Pub. 17 for guidance)
Prior-year supplemental
(employer-provided) amounts,
repaid
Screen: 99G
Fields: As applicable
Where to Enter in Drake
Screen: A
Field: Other not subject to 2% limit; (choose Claim
Repayment)
Screen: 4
Field: Repaid sub-pay previously reported (Enter the
repaid amount.)
Current year, total Screen: 3
Field: Unemployment compensation (adjustment field;
added to 99G amount)
Current year, repaid Screen: 3
Field: Portion of above unemployment repaid in 2012
Note that the Unemployment compensation field on screen 3 is an adjustment field.
Any amount entered in this field is added to the amounts from the 99G screen and carried
to the “Unemployment compensation” line of Form 1040. Do not duplicate the
99G entries on screen 3.
Tax Year 2012 131