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drake software


cl2019
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I tested drake tax software. It seems that it can not handle foreign capital gain adjustments automatically as ATX does.
Does anyone have the experience and would like to comment on this?
Is Drake a good option for preparers handling 1116, 5471, 8621 and other foreign related returns?
Thank you!

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Hi @cl2019

I have had NO problems using Drake with form 1116 or 5471.  I don't recall what the 8621 is, off-hand, so I will refrain from commenting.  I will say that Drake's 1116 can be a bit finicky and works very differently from ATX's 1116.  It confused the dickens out of me the first year, when I was trying to work it the same as ATX (this was back in 2013; the 2012 tax year debacle that sent me fleeing).  It got much better when I *stopped* trying to make it behave the way ATX behaves, and looked at it on its own terms.  Trickier than it sounds, when you're really used to one way - but also really necessary.  There may be Drake videos or tutorials or something on the 1116 et al; look 'em up!

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