Drake Tax Software Training - How to Prepare Business Tax Return Partnership 1065 in Drake [2023]

[@wildbluyawnder1]

Brilliant! This is exactly what I needed. Thank you!

[@notsoboringcpa]

Great - thank you! subscribe for more videos on Drake ☺

[@irfans1066]

Thank you for sharing wonderful information ❤

[@notsoboringcpa]

Thank YOU!!

[@christiancalderon3821]

Gm . Do you have a 1120s video please

[@notsoboringcpa]

I don't have it yet, but let me know if you have nay specific questions on S-corp preparation

[@karenmarcum7098]

@@notsoboringcpa I have always used UltraTax. My Retained Earnings always calculates on its own. I understand about the PRNT screen where I can auto-calculate in Drake, but the M-2 vs. Retained Earnings worksheet comes out wonky. I input Shareholder Contributions under the AAA area in UltraTax and it naturally adds to the Balance Sheet Retained Earnings number. I form check my numbers and if the Balance Sheet balances, I'm all good and the M-2 vs. Retained Earnings comes out perfectly fine (contributions is an addition on the worksheet whereas, Drake only considers Net Income and Distributions), but Drake's output looks like it's out of balance or something. If I turn off Auto-Calculate, the Retained Earnings number is -0- on the Balance Sheet. Do I have to input the Ending Retained Earnings number myself? I will definitely watch this 1065 video and hope you'll prepare an 1120-S video soon. Thank you!

[@rockxf11]

Excellent video!! and just so you know, the link for your S corp. course is broken, if you can share it again it will be very nice.

[@notsoboringcpa]

Thank you so much for your comment. All the available courses under my website www.remotecpainla.com. Thanks again for your kind words!

[@mohammadyounis8282]

if we have other income where to inputs that

[@notsoboringcpa]

Under Income section, other income. If it doesn’t have a section for that - I would put on schedule K if it’s interest, or lamp together with the gross receipts

[@tanmoypal804]

Thank you so much, I have a Question mam

[@notsoboringcpa]

How can I help you?

[@jhoniikemp]

Please do a S-Corp example 😊

[@notsoboringcpa]

S-corp example is part of my Business Course at remotecpainla.com , but let me know if you have any specific questions!

[@ZWI_TLN]

14:43

[@NickDutt-c5y]

This is no use because you are not entering the data just reading line by line so not much use

[@notsoboringcpa]

You should check out some more their videos where do enter data. Hope that would be helpful!