Partnerships (1065) - Drake Software Support

Drake Software User’s ManualMaking Changes on the FlyAdjustments are made to the appropriate deduction/expenses for the credit amountsfor the following credits:• Form 5884, Work Opportunity Credit• Form 6765, Credit for Increasing Research Activities• Form 8820, Orphan Drug Credit• Form 8845, Indian Employment Credit• Form 8846, Credit for Employer Social Security and Medicare Taxes Paid on CertainEmployee Tips• Form 8881, Credit for Small Employer Pension Plan Startup Costs• Form 8844, Empowerment Zone and Renewal Community Credit• Form 8912, Credit to Holders of Tax Credit Bonds• Form 8941, Credit for Small Employer Health Insurance PremiumsMaking Changes on the FlyUse the PRNT screen to override program defaults.Suppressing/Forcing DocumentsTo suppress or force the printing of certain documents, go to the PRNT screen andselect the desired options. Many “on the fly” changes override options that are setupup globally in Setup.1065 Items The following Form 1065 items can be forced or suppressed from the PRNT screen.• Force Schedules L, M-1, M-2 & K-1 Section L — Schedules L, M-1, M-2, andK-1 Section L are not printed unless required. To have these schedules printedwith the return, select Force Schedules L, M-1, M-2 & K-1 Section L.• Print Form 8893, Election of Partnership Level Tax Treatment — Select thisbox to generate Form 8893 with the return. (There is no equivalent 8893 screen,but the form is produced. All information for the form is available from other dataentry screens.)• Print Form 4562 — Form 4562, Depreciation and Amortization is not generatedunless applicable. Select this box to force the Form 4562 to be printed. (To forceForm 4562 for all returns, go to Setup > Options > Form & Schedule Options,and clear the check box labeled Print Form 4562 only when required.)• Print next-year depreciation listing— Select this box to print the next year’sdepreciation schedule if the option is not already selected in Setup > Options >Form & Schedule Options.• Print inactive return — By default, the program does not generate a return if it isinactive. Select this option to override the default for an inactive return.• PIN — To have the preparer and officer signature appear on printed copy ofreturn• Items to Suppress — Select the boxes corresponding to any worksheets, forms,or functions to be suppressed in the return:Tax Year 2010 33