Drake Tax – 1040: Capital Construction Fund (CCF)
Article #: 11644
Last Updated: November 06, 2024
"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.
An entry at these screen locations in a 1040 produces the CCF literal.
| Screen | Line # | Code | "CCF" and amount appears on line |
|---|---|---|---|
| K1P | 13 | AA | Form 1040, line 15 |
| K1P | 20 | S | Schedule 2, line 17z ("CCF" appears in a referenced statement) |
| K1S | 12 | AA | Form 1040, line 15 |
Drake Tax 2022 and prior
| Screen | Line # | Code | "CCF" and amount appears on line |
|---|---|---|---|
| K1P | 13 | WD | line 15 (line 11b in Drake19, line 10 in Drake 18, line 43 in Drake17 and prior) |
| K1P | 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) |