The print process generates a Portable Document Format (PDF) file that can be viewed, printed, or saved. As all supported browsers now have PDF readers, Adobe Acrobat Reader is not required to print a PDF copy. IMPORTANT: TaxAct fees must be paid before the return and individual forms can be printed or saved as a […]
Generally, the IRS does not require all transactions to be reported on Form 8949, Sales and Other Dispositions of Capital Assets. For transactions with reporting category “A” or “D” (meaning the cost basis was reported to the IRS), if there is no adjustment code/amount they can be reported directly on Schedule D (Form 1040), Capital […]
You can easily review your return manually, or with the TaxAct Double-Check feature, which can identify missing or incomplete information that may bring your return to the attention of the IRS, and alert you about possible tax saving opportunities. Manual Review Click About or Basic Info, then click Continue on each screen, visually reviewing […]
To enter or review the taxpayer’s or spouse’s Social Security Number in the return, follow the steps below. Online Dashboards From within your TaxAct return, click About. On smaller devices, click the menu at the top left corner of your screen, then make your selection. Review the information listed for You, your Spouse, and your […]
To change your filing status from “Married Filing Joint” to “Head of Household” after importing, you will need to remove any spousal information from your return. To remove the spouse details, follow the steps below. Online Dashboard From within your TaxAct return, click About. On smaller devices, click the menu at the top left corner […]
If your dependent received an Identity Protection PIN (IP PIN), you will need to enter this PIN on your tax return. To enter your dependent’s IP PIN, follow the steps below. Online Dashboards From within your TaxAct return, click Taxes & Miscellaneous. On smaller devices, click the menu at the top left corner of your […]
Donation Assistant is a useful way to calculate the Fair Market Value (FMV) of donated items, such as items donated to Goodwill, Salvation Army, or any other charitable or non-profit organizations. This calculator provides certified resale values for over 1,300 items, so you can accurately determine the value of your donated items and maximize your […]
In the TaxAct program, you can add, review/edit, delete, and add multiple copies of Form W-2. If you need to add Form W-2, read the instructions in the article Form W-2 – Entering in Program. To add multiple copies of Form W-2, read the instructions in the article Form W-2 – Filing Multiple Copies. Review […]
With TaxAct software, you can gather important tax information for the students or parents of students who will be applying for federal financial aid with the Free Application for Federal Student Aid (FAFSA) worksheet. located in the Review section of the software. To access the worksheet, click Review and then College Student Financial Aid. Follow […]
To determine which forms/schedules are “active” in the current return, as opposed to those forms that are not being used in the current return, you need to view the Forms and Schedules list. Active forms/schedules are either automatically created (and required as a part of every return), or you have entered information in the TaxAct […]
How to Enter Data Directly onto a Form in TaxAct Desktop and Professional Editions If you’re using TaxAct Desktop or Professional Editions, you can enter data directly into forms using Forms View. Here’s how to navigate and input data effectively: Accessing Forms View: From within your TaxAct return, click Forms in the options bar to open the Forms Explorer (if not already visible). […]
The data entry fields are color coded to indicate the type of field it is. There are three types of fields, user entry fields (green), calculated fields (blue) and overridden fields (red). Calculated fields (displayed in blue) are fields in which the program has calculated the data. The data could be text, a number or a […]
Steps to Check for Program Updates: Open your TaxAct program. Click Online in the upper menu bar. Select Check for Updates from the dropdown menu. Follow the on-screen instructions to select and install the federal or state updates you need. NOTE: This process verifies and installs the latest program updates. Your data will remain intact and will not be lost during the update.
The Federal Trade Commission (FTC) requires that entities which engage in an activities that are financial in nature implement certain security practices to ensure customer data is properly protected. One of these requirements is to maintain a log of authorized users’ activity and to watch for unauthorized access. In order to maintain this log, we […]
For forms that cannot be opened directly, a list of schedules or worksheets that must be completed first will pop up. The information you enter on those forms will flow back to populate the form you desire.
TaxAct® is pleased to offer the Donation Assistant to assist taxpayers in determining the proper valuation of donated items and conform to the new IRS requirement for valuing donated items. The Donation Assistant uses valuations from CUCV, Inc (Certified Used Clothing Values) that are obtained from annual surveys of consignment and thrift stores throughout the […]
A yellow alert indicates that you may or may not need to take any additional action. It is informational only and does not indicate any errors on the return. The alert continues to generate so that you may go back and change your entry if need be. However, once you are satisfied with your entry, […]
TaxAct provides tools to help you plan for next year’s tax return. To access the planning tools: From within your TaxAct return (Online or Desktop), click Next Year (on smaller devices, click in the top left corner of your screen, then click Next Year). Continue with the interview process to prepare for next year. Planning tools […]
The TaxAct® Desktop and Professional Editions programs can automatically attach state returns for state modules that were installed on your computer. If you don’t need to file for a state that was attached to your return, you can choose not to file for the state and skip the interview questions for that state. You may […]
TaxAct® provides tools to help you plan for next year’s tax return. To access the planning tools: From within your TaxAct return (Online or Desktop), click Next Year (on smaller devices, click in the top left corner of your screen, then click Next Year). Continue with the interview process to prepare for next year. Let’s […]
TaxAct® has two different types of products that allow you to prepare, print, and e-file your Form 1040 tax return: TaxAct Online and TaxAct Download. With TaxAct Online, you can add multiple returns to your account; therefore, a whole family can access their returns from the same account. You will access the account and return(s) […]
The tax summary is a TaxAct feature that lists items calculated or entered in your return, with dollar amounts for various categories that impact your return, broken down by category. To view your tax summary in the TaxAct program: Online: From within your TaxAct return (Online), click the vertical ellipsis menu at the top of […]
