What does the literal "CCF" indicate on a return?
"CCF" is a literal that stands for Capital Construction Fund. This is a special investment program administered by the National Marine Fisheries Service (NMFS) and the IRS which allows fishermen to defer paying income tax on certain income they invest in a CCF account and later use to acquire, build or rebuild fishing vessels.
An entry at these screen locations in a 1040 produces the CCF literal.
Drake23
| K1P |
13 |
AA |
Form 1040, line 15 |
| 20 |
S |
Schedule 2, line 17z
("CCF" appears in a referenced statement) |
| K1S |
12 |
AA |
Form 1040, line 15
|
Drake22 and prior
|
K1P
|
13
|
WD
|
line 15 (line 11b in Drake19, line 10 in Drake 18, line 43 in Drake17 and prior) |
|
20
|
S
|
Schedule 2, line 8c (Schedule 4, line 62 in Drake 18, 1040, line 62 in Drake17 and prior)
("CCF" appears in a referenced statement) |
|
K1S
|
12
|
SC
|
line 15 (line 11b in Drake19, line 10 in Drake 18, line 43 in Drake17 and prior) |
See IRS Publication 595 for more information about Capital Construction Funds.
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