Professional Editions - Master Information General Tab

Various functions for TaxAct Professional Editions are toggled on and off through the Preparer Master Information box:

  1. Click Preparer in the top menu (while viewing the Client Manager - not from within an individual return).
  2. Click Master Information, then click General.
  3. Click the General tab and from there you can control the following:
    • Filing/Printing Options
      • Print the preparer's name in the Preparer's Signature field.
      • Print the current date in the Preparer's Signature Date field.
      • Print all capital gain/loss transactions on Form 8949 Sales and Other Dispositions of Capital Assets.
      • Do not print Schedule K-1 Page 2 (codes) - (Schedule K-1 (Form 1065), Schedule K-1 (Form 1120-S), and Schedule K-1 (Form 1041) only).
      • When the return qualifies, file Form 1040-SR U.S. Tax Return for Seniors instead of Form 1040 U.S. Individual Income Tax Return on all returns - (Individual only).
      • File Form 1040-NR U.S. Nonresident Alien Income Tax Return on all returns - (Individual only).
      • File State "Long Forms" instead of State "Short Forms" on all returns - (Individual only).
      • Print Schedule B (Form 1040) Interest and Ordinary Dividends even if under $1,500 - (Individual only).
      • Automatically lock returns after E-Filing.
    • Miscellaneous Options
      • Assign invoice number to all new and imported returns (also provides the option to select the next invoice number to use and/or the increment to use between invoice numbers).
      • Show "open" message on return to indicate the refund has changed due to an updated or different version of TaxAct.
      • Do not include social security number(s) or direct deposit information on Tax Organizers - (Individual only).
    • Calculation Options (1040 only)
      • The IRS should compute Form 2210 Underpayment Penalty (TaxAct will not compute penalty).
      • States will compute the underpayment penalty (TaxAct will not compute penalty).
      • Automatically complete Boxes 3-6 of Form W-2 Wage and Tax Statement based on Box 1 and Box 12 entries.
      • Automatically complete Box 16 State Wages of Form W-2 based on Box 1 entry.
      • Automatically complete Box 18 Local Wages of Form W-2 based on Box 1 entry.
      • Do not automatically compute state sales or use tax (New York returns only).

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.