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Drake Software User’s ManualElection OptionsNOL CarryforwardOnlyFiguringAMT NOLTo indicate that the taxpayer elects to carry a NOL forward and not back, go to theNOL screen and select Election to carry forward ONLY. When the return is generated,it includes an EF_NOTE stating that the taxpayer is electing under Section 172(b) (3) to relinquish the entire carryback period.Use the NOL screen to enter data for figuring Alternative Minimum Tax NOL. Whenthe return is generated, the AMT_NOL worksheet shows the current year AMT NOL.Election OptionsSpecial ReturnsThe ELEC screen has check boxes to indicate “elections” from the IRS code. If anyboxes on this screen are marked, a note listing the elections is generated with thereturn. To attach an additional statement detailing an election, go to the SCH screenand select E (Election Explanation) for the type of schedule. Both the list of electionsand any designated election explanations are visible as ELECTION pages in the View/Print mode directory tree.For more on unformatted schedules, see “Unformatted Schedules” on page 161.This section explains how to complete the following return types in Drake:• Form 1040X, Amended U.S. Individual Income Tax Return• Extension Applications:– Form 4868, Application for Automatic Extension of Time To File U.S. IndividualIncome Tax Return– Form 2350, Application for Extension of Time To File U.S. Income TaxReturn For U.S. Citizens and Resident Aliens Abroad Who Expect To Qualifyfor Special Tax Treatment• Form 1040NR, U.S. Nonresident Alien Income Tax Return• Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return_NOTEAmended returns cannot be e-filed. An electronic signature isrequired for all other returns and applications for extensions. See“Signing the Return” on page 139 for more on electronic signatures.Amended ReturnsTo create an amended return in Drake:Screen code: X1. Open the return to be amended.2. From the Other tab, click 1040X Amended Return.3. To have the program fill the 1040X screen with data from the original return, clickYes. To leave the fields blank, click No.4. Enter all applicable data in the 1040X screen.The 1040X screen contains fields for the following types of information:Tax Year 2008 153