User's Manual - Drake Software

Drake Software User’s Manual
Alternative Minimum Tax
Figure 5-34: Boxes at the top of screen A
If screen A has been completed for a return, Schedule A will be generated—even if
the standard deduction is being taken. You can set up the option to have the software
generate Schedule A only when it is required. To do so, go to Setup > Options >
Form & Schedule Options tab and select Print Schedule A only when required.
Mortgage
Interest Paid
Use the Interest You Paid section of screen A to enter mortgage interest not reported
on Form 1098, Mortgage Interest Statement. For mortgage interest that is reported on
Form 1098, use the 1098 screen.
IMPORTANT
If using the 1098 screen to report interest from Form 1098, do not
enter an amount in the Home mortgage interest and points
reported on Form 1098 field on screen A.
Form 1098-C
Enter amounts from Form 1098-C, Contribution of Motor Vehicles, Boats, & Airplanes,
on either screen A (if less than $500) or screen 8283 (if more than $500).
Additional Itemized Deductions
Screen codes:
4952, 8283
Use the 4952 screen to enter data for Form 4952, Investment Interest Expense Deduction.
Use the 8283 screen to enter data for Form 8283, Noncash Charitable Contributions.
Calculations from the 8283 screen flow to the “Gifts by cash or check” line of
Schedule A. There is also a direct entry field for this line on screen A. Do not enter
duplicate amounts.
NOTE
When a Donee ID number is entered on the 8283 screen, the program
automatically stores the number in the EIN database.
Alternative Minimum Tax
Screen code: 6251
Forcing Form 6251
Use the 6251 screen, accessible from the Taxes tab, to enter information for Form
6251, Alternative Minimum Tax.
Although Form 6251 amounts are computed on all returns, the form itself is generated
with a return only when required. You can force this form to be generated for a single
return, or you can force it to be generated with all returns.
For a Single
Return
For All
Returns
To force Form 6251 for a single return, go to the PRNT screen of the return and select
the Print 6251 box in the Items to Print section of the screen.
To have the program print Form 6251 for all returns, go to Setup > Options > Form
& Schedule Options and clear the Print Form 6251 only when required check box.
Tax Year 2012 141