Drake Tax – 1040: Capital Construction Fund (CCF)

"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.

See Publication 595 for more information about Capital Construction Funds.

Data Entry

An entry at these screen locations in a 1040 produces the CCF literal.