User's Manual - Drake Software

General Business Credits
Drake Software User’s Manual
General Business Credits
Use screen 3800 to fill out Form 3800, General Business Credit. This screen consists
mostly of override fields for passive activity credits (see “Passive Activity Credits,”
following); data should be entered in the override fields only to override the program’s
calculated amounts from Form 3800, Part III, General Business Credits or Eligible
Small Business Credits.
The GBC screen is used for reporting the following types of information:
• Data for current-year credits reported on forms Drake does not support (To enter
data for a credit programmed into Drake, use the credit’s screen. For example, use
the 8820 screen for Form 8820, Orphan Drug Credit.)
• GBC and ESBC carryforwards and carrybacks
Passive Activity Credits
The Passive Activity Credit Carryover (PACR) screen allows you to enter passive
activity credit amounts in a central location in the software, rather than on individual
credit screens, thus streamlining data entry and increasing the number of passive
credit carryforward amounts that can be updated from year to year.
Entering Credit Carryforward Amounts
Screen code:
PACR
NOTE
Part III was added to the form to reflect all the general business credits
reported on Form 3800 and to identify the type of credit being reported:
General Business Credits (GBC) or Eligible Small Business Credits
(ESBC).
To enter credit carryforward amounts:
1. Open the PACR screen (Figure 5-37), accessible from the first Credits tab.
Figure 5-37: PACR screen
144 Tax Year 2012