User's Manual - Drake Software

Child Tax Credit
Drake Software User’s Manual
Child Tax Credit
The Child Tax Credit is calculated automatically in the program. See “Additional
Child Tax Credit and Combat Pay” on page 157.
Retirement Savings Contributions Credit
Screen code: 8880
Use the 8880 screen, accessible from the second Credits tab, for Form 8880, Credit
for Qualified Retirement Savings Contributions.
NOTE
When this credit can apply, Form 8880 is generated automatically, and
a note is produced stating that retirement plan contributions have been
carried to Form 8880. The note also provides instructions for preventing
Form 8880 from being generated.
Other Credits
Table 5-8 lists all credit forms not mentioned previously for which Drake provides
screens. If you need a form for which no screen is available, most forms can be found
at Tools > Blank Forms.
Table 5-8: Other Credits Calculated in Drake
Screen
Form and Credit
4136 Form 4136, Credit for Federal Tax Paid on Fuels
3468 Form 3468, Investment Credit
5884 Form 5884, Work Opportunity Credit
6478 Form 6478, Credit for Alcohol Used as Fuel
6765 Form 6765, Credit for Increasing Research Activities
8396 Form 8396, Mortgage Interest Credit
8609 Form 8609, Low-Income Housing Credit Allocation and Certification
8801 Form 8801, Credit for Prior Year Minimum Tax - Individuals, Estates, and Trusts
8820 Form 8820, Orphan Drug Credit
8826 Form 8826, Disabled Access Credit
8834 Form 8834, Qualified Electric Vehicle Credit
8835 Form 8835, Renewable Electricity, Refined Coal, and Indian Coal Production
Credit
8839 Form 8839, Qualified Adoption Expenses
8844 Form 8844, Empowerment Zone and Renewal Community Employment Credit
8845 Form 8845, Indian Employment Credit
8846 Form 8846, Credit for Employer Social Security and Medicare Taxes Paid on
Certain Employee Tips
146 Tax Year 2012