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OLTPRO vs Drake


Roberts
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I've mentioned on here previously that I a client provides me Drake software for free (to use for his clients) and I pay for my subscription to OLTPRO. Well I had 3 returns I really had questions about so I ran them through both pieces of software. My biggest concern was whether K-1s would be handled properly by OLTPRO.

First client makes income of over $900k per year - far more than half is distributed via 6 K-1s her company issues to her. After working them both up (in OLTPRO it's a 75 page tax return) the final result was a $4 difference in the tax paid. On Schedule A each software did things differently when it came to limitations due to income. Didn't spend the time figuring out which it more properly since it was so close but Drake appeared to be correct. Was shocked the K-1s were all handled exactly the same.

Second client is rather small - a city pension, retired military pension and W2 for his job. I only ran it through both because it ticks me off how much tax he pays every year. Thought maybe I was doing something wrong. The 1040's came out the exact same. Drake ROYALLY screwed up the state return. In determining a limitation on a military pension deduction my state allows - it comes to a limitation percentage (both correct) and Drake multiplied it by an incorrect number. It would have cost the client over $300 in additional tax because of their error. I couldn't find a way to fix it. 

Lastly I ran a 1065 real estate return through both (did it back in February actually). Wondered if depreciation was handled correctly and they came out the exact same. Drake is nearly a 20 page return whereas OLTPRO generates a 15 page return. Drake has good letters - I don't use letters.

Thought it was an interesting test.

 

 

 

 

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