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Table of ContentsDrake Software User’s ManualOther Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108Educator Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110Employee Business Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110Health Savings Account (HSA) Deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111Moving Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111Self-Employment Adjustments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112Penalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114Alimony Paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115IRA Adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115Student Loan Interest Deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115Education Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115Domestic Production Activities Deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116Other Adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116Itemized Deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117Alternative Minimum Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118Child and Dependent Care Expenses Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118Elderly/Disabled Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120Home Energy Credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120Foreign Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120Child Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121Retirement Savings Contributions Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122Other Credits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122Self-Employment Tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123Unreported Social Security and Medicare Tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123Additional Tax on Retirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123Advance EIC Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123Household Employment Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124Other Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124Estimated Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125Earned Income Credit (EIC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130Additional Child Tax Credit and Combat Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132Other Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133First-Time Homebuyer Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133Recovery Rebate Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134Direct Deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134Electronic Funds Withdrawal (Direct Debit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136Third Party Designee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138Signing the Return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140Auto Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146Office in Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150Net Operating Losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151Election Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 153Special Returns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 153Requests, Claims, and Other Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156Special Features in Data Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159iv Tax Year 2008
Drake Software User’s ManualTable of ContentsReturn Results ....................................................................................... 165Calculating a Return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165Calculation Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166Viewing and Printing a Return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168Setting Up View/Print Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173Archive Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176E-filing..................................................................................................... 179Preparing to E-File . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179E-filing a Return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181EF Override Options in Data Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188EF Database . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191Online EF Database . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194Copying EF Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199About State Filing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200Banking................................................................................................... 201About Bank Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201Preparing to Offer Bank Products. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207Using Bank Screens in Data Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 209Bank Product Transmission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210Processing the Loan Check. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211Troubleshooting Check Printing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214Cancellations, Tracking, & Post-Season Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215Client Status Manager ........................................................................... 217About Client Statuses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217Setting Statuses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 219Opening a Return from the CSM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 219Customizing the Display. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 220Searching, Updating, and Filtering . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221CSM Reports. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 222Exporting CSM Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223Admin-only Features . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223Resources and Support ........................................................................ 225Drake Software Manual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225Online Support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225Software Support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234Interactive Support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 236Fax Cover Letter for Support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241Tools ....................................................................................................... 243Install Updates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 243Download Fonts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246Blank Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246Tax Year 2008v
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Page 4 and 5: CopyrightDrake Software User’s Ma
Page 8 and 9: Table of ContentsDrake Software Use
Page 10 and 11: What’s New in Drake for 2008Drake
Page 12 and 13: What’s New in Drake for 2008Drake
Page 14 and 15: Contacting Drake SupportDrake Softw
Page 16 and 17: InstallationDrake Software User’s
Page 18 and 19: Running Drake on a NetworkDrake Sof
Page 20 and 21: Running Drake on a NetworkDrake Sof
Page 22 and 23: Software SetupDrake Software User
Page 54 and 55: Making Changes on the FlyDrake Soft
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Making Changes on the FlyDrake Soft
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Page 60 and 61:
Page 62 and 63:
Logging In and OutDrake Software Us
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Creating and Opening ReturnsDrake S
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Data EntryDrake Software User’s M
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About State ReturnsDrake Software U
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Prior-Year UpdatesDrake Software Us
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Prior-Year UpdatesDrake Software Us
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Organizers and ProformasDrake Softw
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SchedulerDrake Software User’s Ma
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E-filing PreparationDrake Software
Page 92 and 93:
Taxpayer DemographicsDrake Software
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ExemptionsDrake Software User’s M
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Personal Service Income (W-2, 1099-
Page 98 and 99:
Passive and Investment Income (1099
Page 100 and 101:
Passive and Investment Income (1099
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Self-Employment Income (Schedule C)
Page 104 and 105:
Sales of AssetsDrake Software User
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Page 110 and 111:
Retirement Income (1099-R, etc.)Dra
Page 112 and 113:
Supplemental IncomeDrake Software U
Page 114 and 115:
Farm IncomeDrake Software User’s
Page 116 and 117:
Social Security and Railroad Benefi
Page 118 and 119:
Educator ExpensesDrake Software Use
Page 120 and 121:
Self-Employment AdjustmentsDrake So
Page 122 and 123:
PenaltiesDrake Software User’s Ma
Page 124 and 125:
Domestic Production Activities Dedu
Page 126 and 127:
Alternative Minimum TaxDrake Softwa
Page 128 and 129:
Elderly/Disabled CreditDrake Softwa
Page 130 and 131:
Retirement Savings Contributions Cr
Page 132 and 133:
Household Employment TaxesDrake Sof
Page 134 and 135:
Estimated TaxesDrake Software User
Page 136 and 137:
Estimated TaxesDrake Software User
Page 138 and 139:
Earned Income Credit (EIC)Drake Sof
Page 140 and 141:
Additional Child Tax Credit and Com
Page 142 and 143:
Recovery Rebate CreditDrake Softwar
Page 144 and 145:
Electronic Funds Withdrawal (Direct
Page 146 and 147:
Third Party DesigneeDrake Software
Page 148 and 149:
DepreciationDrake Software User’s
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Auto ExpensesDrake Software User’
Page 156 and 157:
Auto ExpensesDrake Software User’
Page 158 and 159:
Office in HomeDrake Software User
Page 160 and 161:
Net Operating LossesDrake Software
Page 162 and 163:
Special ReturnsDrake Software User
Page 164 and 165:
Requests, Claims, and Other FormsDr
Page 166 and 167:
Requests, Claims, and Other FormsDr
Page 168 and 169:
Special Features in Data EntryDrake
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Calculation ResultsDrake Software U
Page 176 and 177:
Viewing and Printing a ReturnDrake
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Setting Up View/Print OptionsDrake
Page 184 and 185:
Archive ManagerDrake Software User
Page 186 and 187:
Archive ManagerDrake Software User
Page 188 and 189:
Preparing to E-FileDrake Software U
Page 190 and 191:
E-filing a ReturnDrake Software Use
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
EF Override Options in Data EntryDr
Page 198 and 199:
EF Override Options in Data EntryDr
Page 200 and 201:
EF DatabaseDrake Software User’s
Page 202 and 203:
Online EF DatabaseDrake Software Us
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
About State FilingDrake Software Us
Page 210 and 211:
About Bank ProductsDrake Software U
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Page 214 and 215:
Page 216 and 217:
Preparing to Offer Bank ProductsDra
Page 218 and 219:
Bank Product TransmissionDrake Soft
Page 220 and 221:
Processing the Loan CheckDrake Soft
Page 222 and 223:
Troubleshooting Check PrintingDrake
Page 224 and 225:
Cancellations, Tracking, & Post-Sea
Page 226 and 227:
About Client StatusesDrake Software
Page 228 and 229:
Customizing the DisplayDrake Softwa
Page 230 and 231:
CSM ReportsDrake Software User’s
Page 232 and 233:
Admin-only FeaturesDrake Software U
Page 234 and 235:
Online SupportDrake Software User
Page 236 and 237:
Page 238 and 239:
Page 240 and 241:
Page 242 and 243:
Software SupportDrake Software User
Page 244 and 245:
Interactive SupportDrake Software U
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Page 248 and 249:
Page 250 and 251:
Fax Cover Letter for SupportDrake S
Page 252 and 253:
Install UpdatesDrake Software User
Page 254 and 255:
Download FontsDrake Software User
Page 256 and 257:
File MaintenanceDrake Software User
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Page 266 and 267:
LettersDrake Software User’s Manu
Page 268 and 269:
AmortizationDrake Software User’s
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Install State ProgramsDrake Softwar
Page 272 and 273:
Quick EstimatorDrake Software User
Page 274 and 275:
Report ManagerDrake Software User
Page 276 and 277:
Setting Up a ReportDrake Software U
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Setting Up a ReportDrake Software U
Page 280 and 281:
Filter ManagerDrake Software User
Page 282 and 283:
Filter ManagerDrake Software User
Page 284 and 285:
Report ViewerDrake Software User’
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Fixed Asset ManagerDrake Software U
Page 288 and 289:
Hash TotalsDrake Software User’s
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Document ManagerDrake Software User
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Page 294 and 295:
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Tax PlannerDrake Software User’s
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Client Write-UpDrake Software User
Page 308 and 309:
Trial Balance ImportDrake Software
Page 310 and 311:
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Page 318 and 319:
Binary AttachmentsDrake Software Us
Page 320 and 321:
Binary AttachmentsDrake Software Us
Page 322 and 323:
Appendix A: Preseason ChecklistDrak
Page 324 and 325:
Appendix A: Preseason ChecklistDrak
Page 326 and 327:
PROCESS: E-FILING FEDERAL RETURNSCo
Page 328 and 329:
Appendix C: KeywordsDrake Software
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Page 334 and 335:
Appendix D: Acronyms & Abbreviation
Page 336 and 337:
Appendix D: Acronyms & Abbreviation
Page 338 and 339:
Appendix E: State E-filing Mandates
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Page 342 and 343:
Page 344 and 345:
Prepare to use TrialBalance ImportC
Page 346 and 347:
Index2008 Drake Softwarebank name d
Page 348 and 349:
Index2008 Drake Softwarechanging 18
Page 350 and 351:
Index2008 Drake Softwareestimating
Page 352 and 353:
Index2008 Drake SoftwareForm 8867 (
Page 354 and 355:
Index2008 Drake Softwareand moving
Page 356 and 357:
Index2008 Drake SoftwareReal-Time L
Page 358 and 359:
Index2008 Drake SoftwareSSN, see So
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