Drake Software Evaluation Guide

More documents

Recommendations

Info

1 5 0 | P a r t n e r s h i p R e t u r n 2 0 0 8 D R A K E S O F T W A R ESCHEDULE M1 RECONCILIATION OF INCOMEA Schedule M1 entry is required for the Gator Roofing partnership. Type M1 in the selectorfield for data entry and press ENTER. Create a worksheet for line 6 Other for an UnrealizedGain of $4,000. See Figure 94 below.Figure 94: M-1 Reconciliation of IncomeOnly Large and Midsize Business (LMSB) partnership taxpayers reporting gross assets of $10million or more on Schedule L (balance sheet) on Form 1065 at the end of the taxable year arerequired to complete and file Schedule M-3 Net Income (Loss) Reconciliations instead ofSchedule M-1. An M-3 is unnecessary for the preparation of the Gator Roofings’ return;however, you may want to examine the data entry screens for use later.Press ESC to return to the Data Entry Menu.CAPITAL GAIN OR LOSSThere are two capital gain or loss transactions for Gator Roofing. To enter the transactions inthe return, type D in the selector field and press ENTER. See Figure 95 on page 151. Enterinformation from the following table on the D screen.Descriptions Date Acq Date Sold Sales Price CostSale stock 200 ABC 06-12-2007 05-12-2008 53,900 56,000Sales stock XYZ 02-28-2001 08-21-2008 19,500 15,000Drake Software Evaluation GuideCopyrighted Material
2 0 0 8 D R A K E S O F T W A R E P a r t n e r s h i p R e t u r n | 1 5 1Figure 95: Schedule DPress ESC to return to the Data Entry Menu.FORM 8825 - RENTAL REAL ESTATEGator Roofing has rental real estate property. The information regarding its warehouse isentered on the 8825 screen. See Figure 96 on page 152. Type 8825 in the selector field indata entry and press ENTER. Select, “Check to include in self employment income”. TypeWarehouse in the Kind of property field, type 222 Roofing Way,Gainesville, FL in the Address of property field. Enter gross rents and expensesfrom the following table:FieldsGross rent 23,000Taxes 1,600Utilities 3,600Wages and salaries 1,200DataCopyrighted MaterialDrake Software Evaluation Guide
Page 3 and 4:
2 0 0 8 D R A K E S O F T W A R E C
Page 5:
2 0 0 8 D R A K E S O F T W A R E |
Page 8 and 9:
2 | W e l c o m e 2 0 0 8 D R A K E
Page 10 and 11:
4 | C P E I n f o r m a t i o n 2 0
Page 12 and 13:
6 | I n s t a l l i n g t h e S o f
Page 14 and 15:
8 | I n s t a l l i n g t h e S o f
Page 16 and 17:
1 0 | I n s t a l l i n g t h e S o
Page 18 and 19:
1 2 | I n s t a l l i n g t h e S o
Page 20 and 21:
1 4 | N a v i g a t i n g t h e P r
Page 22 and 23:
1 6 | N a v i g a t i n g t h e P r
Page 24 and 25:
1 8 | P r o g r a m S e t u p 2 0 0
Page 26 and 27:
2 0 | P r o g r a m S e t u p 2 0 0
Page 28 and 29:
2 2 | P r o g r a m S e t u p 2 0 0
Page 30 and 31:
2 4 | P r o g r a m S e t u p 2 0 0
Page 32 and 33:
2 6 | P r o g r a m S e t u p 2 0 0
Page 34 and 35:
2 8 | P r o g r a m S e t u p 2 0 0
Page 36 and 37:
3 0 | P r o g r a m S e t u p 2 0 0
Page 38 and 39:
3 2 | P r o g r a m S e t u p 2 0 0
Page 40 and 41:
3 4 | P r o g r a m S e t u p 2 0 0
Page 42 and 43:
3 6 | P r o g r a m S e t u p 2 0 0
Page 44 and 45:
3 8 | R e v i e w Q u e s t i o n s
Page 46 and 47:
4 0 | H o t K e y s 2 0 0 8 D R A K
Page 48 and 49:
4 2 | R e v i e w Q u e s t i o n s
Page 50 and 51:
4 4 | R e t u r n P r e p a r a t i
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
9 0 | C a l c u l a t e a n d P r i
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107: 1 0 0 | R e v i e w Q u e s t i o n
Page 108 and 109: 1 0 2 | E l e c t r o n i c a l l y
Page 122 and 123: 1 1 6 | B u s i n e s s R e t u r n
Page 144 and 145: 1 3 8 | P a r t n e r s h i p R e t
Page 168 and 169: 1 6 2 | T o o l s 2 0 0 8 D R A K E
Page 176 and 177: 1 7 0 | R e p o r t s 2 0 0 8 D R A
Page 188 and 189: 1 8 2 | S u p p o r t R e s o u r c
Page 196 and 197: 1 9 0 | S u i t e P r o d u c t s 2
Page 206 and 207:
2 0 0 | R e v i e w Q u e s t i o n
Page 208 and 209:
2 0 2 | G l o s s a r y 2 0 0 8 D R
Page 210 and 211:
2 0 4 | G l o s s a r y 2 0 0 8 D R
Page 212 and 213:
2 0 6 | G l o s s a r y 2 0 0 8 D R
Page 214 and 215:
2 0 8 | C P E E x a m 2 0 0 8 D R A
Page 216 and 217:
2 1 0 | C P E E x a m 2 0 0 8 D R A
Page 218 and 219:
2 1 2 | C P E E x a m 2 0 0 8 D R A
Page 220 and 221:
2 1 4 | C P E E x a m A n s w e r S
Page 222 and 223:
v i |2 0 0 8 D R A K E S O F T W A
Page 224 and 225:
v i i i |2 0 0 8 D R A K E S O F T
Page 226 and 227:
x |2 0 0 8 D R A K E S O F T W A R
Page 228:
x i i |2 0 0 8 D R A K E S O F T W
show all

Drake Software Evaluation Guide

Create successful ePaper yourself

Delete template?

Save as template?