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Drake Software User’s ManualOther PaymentsOther Payments• Combat pay applicable to Additional Child Tax Credit and EIC• Total earned income for Form 8812, Additional Child Tax CreditThe program automatically calculates the amount for earned income. If Form 8812 isapplicable, the program makes the calculations and generates the form. Use the AdditionalChild Tax Credit field on the 8812 screen only if you need to override the calculationfor total earned income. See “EIC and Combat Pay” on page 132.Use the following screens to enter other payments from credits.Table 5-15: Other Payments from CreditsScreenName of Form2439 Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains4136 Form 4136, Credit for Federal Tax Paid on Fuels8801 Form 8801, Credit for Prior Year Minimum Tax - Individuals, Estates, and Trusts8885 Form 8885, Health Coverage Tax CreditThese amounts flow to the “Payments from:” line of Form 1040._NOTEUse the Other payments field on screen 5 to force an amount toflow to the “Payments from:” line of Form 1040. Be aware that noother documentation justifying the forced amount is automaticallyincluded with the return.First-Time Homebuyer CreditScreen code: 5405The Housing and Economic Recovery Act of 2008 gives first-time homebuyers a temporaryrefundable tax credit equal to 10% of the purchase price of the home, up to$7,500. This credit is effective for homes purchased on or after April 9, 2008, andbefore July 1, 2009. The credit is a loan that must be repaid in equal installments overa 15-year period. It is, in essence, a 15-year, interest-free loan for most qualifyinghomeowners.Use the 5405 screen, accessible from the Credits tab, for Form 5405, First-TimeHomebuyer Credit. Enter the purchase price in Part II, Credit. If someone other thanthe spouse held an interest in the home, enter only the taxpayer’s share of the purchaseprice. The software calculates the 10% limitation based on the purchase price.Note that the fields on screen 5405 for the home address are overrides. Entries herewill override the default address from screen 1.Tax Year 2008 133