You will see an Alert in the program titled Error or Omission: Missing Form 1095-A if you indicated in the return that you purchased health insurance through a government-sponsored Marketplace, but have not yet entered the information from Form 1095-A Health Insurance Marketplace Statement in the program. This Alert will prevent the electronic filing of […]
If you encounter the following Red Alert during the e-filing process: Error or Omission: Electronic FilingThis return does not qualify for electronic filing. It means that the IRS will reject the return based on their e-filing rules. Why This Happens: Your return must include at least one of the following to be eligible for e-filing: Taxable Income Adjustments to Income Tax […]
If you receive a Publisher Could Not be Verified warning while installing the TaxAct program on your computer, read the warning. Click Yes or Run or whatever option necessary to verify that the program is coming from a trusted source. When installing TaxAct, you can trust our program to be virus-free. Ensure that you download […]
If you are seeing the Red Alert Error or Omission: Ordinary and Rental Activities on Single Schedule K-1 when reviewing your return, this is due to entering an amount in both the Ordinary business income or loss field for the Schedule K-1 and the Net rental real estate income or loss. This alert includes passive […]
Every Form 1099-MISC Miscellaneous Income needs to be assigned to one of the following schedules or worksheets: For the self-employed, freelancers, and independent contractors – Schedule C (Form 1040), Profit or Loss From Business (Sole Proprietorship), For those that own rental and royalty property – Schedule E (Form 1040) Supplemental Income and Loss, or Other […]
If you are seeing a red alert about your adjustment for Marketplace Health Insurance, it may be because a positive number was made for the adjustment to the Marketplace premiums during the Premium Tax Credit Q&A. This adjustment entry may need to be a negative number, which you can correct within the Alerts section. To […]
The Internal Revenue Service has issued several consumer warnings regarding the fraudulent use of the IRS name or logo to illegally gain access to financial information for the purpose of identity theft. Because these emails are sent out as “bait,” this is called “phishing.” In some cases, these fraudulent emails may also contain links to […]
A red alert appears when one of the Partners is a grantor trust and has a Partner type of DISREGARDED ENTITY. The DISREGARDED ENTITY has a Social Security Number(SSN), but not an Employer Identification Number (EIN). For Partner types that are Disregarded Entities, the program requires an EIN. Error or Omission: Inconsistent ID Number(s)The identification […]
If you are seeing the Red Alert in the electronic filing steps, Error or Omission: Form W-2G – Winner State Abbreviation, this is indicating you have not entered a state of residency for the taxpayer or spouse on Form W-2G Certain Gambling Winnings, an entry made in the Basic Information section of the Q&A (in […]
TaxAct does support the e-filing of pass-through income reported on PA Schedules RK-1 and NRK-1; however, does NOT support the e-filing of pass-through income reported on Federal Schedule K-1. If the taxpayer received a PA Schedule RK-1 or Schedule NRK-1, then the taxpayer must indicate that within the Pennsylvania Q&A. If you are seeing the […]
The Red Alert in the electronic filing steps: “Error or Omission: Electronic Filing” with the following text, indicates there is an inherited IRA entered in the return with a prior basis (or there has not yet been an indication the prior basis was zero). This return does not qualify for electronic filing. The IRS does […]
If you come across a Red Alert, and see there is a question on that screen with “N/A” as a selection, the alert may be asking that you switch your “N/A” selection to “Yes” or “No” instead. Although the alert may not be directly related to any other information on the screen, you will, of […]
If you are seeing the Red Alert “Error or Omission: Form 8815 – Bond Interest” when reviewing your return, it is likely due to the amount entered on Line 6 of Form 8815 Exclusion of Interest From Series EE and I U.S. Savings Bonds Issued After 1989 (For Filers With Qualified Higher Education Expenses) being […]
If you receive a red alert about inconsistent ID numbers, it is because the identification number entered for one (or more) of the partners does not match the entity type selected for that partner. For an Individual (or Nominee Individual) Partner, enter the partner’s Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). For […]
If you have data to enter for Box 9 from Form 1099-DIV Dividends and Distributions, review your return by running the Double-Check feature. There will be a Yellow warning titled Warning: Form 1099-DIV – Liquidation Distributions which will provide additional information. Generally, when you receive distributions of your stock from a liquidating corporation, you will […]
The yellow alert Warning: Excess FICA Credit states in the TaxAct program: “Return to the Wages topic and confirm that you have properly identified the owner of each Form W-2, W-2GU, W-2AS, and W-2VI, and W-2CM. A credit for excess FICA withholding of $XXX has been included on your return. If you have incorrectly labeled […]
A taxpayer that is under age 16 at the end of the year and has never filed a tax return does not qualify to e-file. In this case, there are two options: A paid tax preparer can complete and e-file the return The taxpayer can paper file the return If the taxpayer is under 16 […]
In most cases, you cannot e-file a return which contains a Form W-2 Wage and Tax Statement with no wages in Box 1. You will see the following alert when there is a Form W-2 in the return that contains information, but does not contain any wages in Box 1. Error or Omission: Form W-2 […]
While going through the Alerts in the program, if you see the Red Alert Error or Omission: Missing Information, it may relate to entering a donated property item on Form 8283 Noncash Charitable Contributions for an amount greater than $500 and not completing Part I, Line 1, Column G for the Donor’s Cost or Adjusted […]
Although TaxAct® provides the ability for desktop users of the product to override fields in the return if they wish, numerous Alerts are generated to warn of the consequences of doing so. The first key pressed to change a field that would be considered an override (changing a calculation made by the program) triggers a […]
When entering a military address, the only valid city entries are APO (Army Post Office), DPO (Diplomatic Post Office), or FPO (Fleet Post Office). Related Links What are APO/FPO/DPO addresses, and how can I send a care package to one? Note that any link in the information above is updated each year automatically and will […]
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, […]
