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TaxAct 2011 Software Update Information

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TaxAct Federal Version 1.05 Updates (Released 4/10/2012)

For Standard, Deluxe, and Preparer's 1040

Form Updates:

  • Schedule D - A correction has been made to the calculation on the Unrecaptured Section 1250 Gain Worksheet

TaxAct Federal Version 1.04 Updates (Released 3/20/2012)

For Standard, Deluxe, and Preparer's 1040

Form Updates:

  • Form 3800 - General Business Credit - a correction has been made to allow the calculation of the Empowerment Zone and Renewal Community Employment Credit from a pass-through entity
  • Form 5329 - Additional Taxes on Qualified Plans - a correction has been made for those users who had both a conversion/rollover that was deferred from 2010 and an early Roth distribution in 2011
  • Form 8801 - Credit for Prior Year Minimum Tax - a modification has been made for those users who imported a return with prior year capital gains or qualified dividends
  • A modification has been made to the vehicle limit for light truck, SUV and vans that were placed in service in 2009

TaxAct Federal Version 1.03 Updates (Released 2/22/2012)

For Standard, Deluxe, and Preparer's 1040

Form Releases:

  • Form 5884 - Work Opportunity Credit

Form Updates:

  • Form 1040-SS - U.S. Self-Employment Tax Return A modification has been made to the self-employment tax calculation on the additional child tax credit worksheet

TaxAct Federal Version 1.02 Updates (Released 2/2/2012)

For Standard, Deluxe, and Preparer's 1040

Form Releases:

  • Form 1040-SS - U.S. Self-Employment Tax Return (including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico)
  • Form 2210-F - Underpayment of Estimated Tax by Farmers and Fisherman
  • Form 6765 - Credit for Increasing Research Activities
  • Form 6781 - Gains and Losses From Section 1256 Contracts and Straddles
  • Form 8801 - Credit for Prior Year Minimum Tax
  • Form 8845 - Indian Employment Credit

Form Updates:

  • Form 5695 - Residential Energy Credits a correction has been made to the window expense calculation
  • Form 8880 - A correction has been made to the Credit for Qualified Retirement Savings Contributions for persons with a 2011 distribution from a military pension.
  • Schedule H - Household Employment Taxes a correction has been made to the Federal Unemployment (FUTA) Tax calculation
  • Social Security Benefits Worksheet - a modification has been made to the calculation of taxable Social Security benefits for those who also contribute to a Traditional IRA
  • Student Information Worksheet - a modification has been made to the treatment of certain course materials

TaxAct Federal Version 1.01 Updates (Released 1/11/2012)

For Standard, Deluxe, and Preparer's 1040

Form Releases:

  • Form 8867 - Paid Preparer's Earned Income Checklist
  • Form 8917 - Tuition and Fees Deduction
  • Form 8936 - Qualified Plug-In Electric Drive Motor Vehicle Credit

Form Updates:

  • Schedule D - Modification to the reporting category on the Attachment Worksheet
  • Schedule E - Added election for Qualified Joint Venture