The IRS does not actually provide any instructions for what to enter as your occupation on your federal tax return (this appears at the bottom of the return to the right of the signature lines). Enter what best reflects your current occupation. Common entries include: Student, Laborer, Factory Work, Owner-Operator, Self Employed, Homemaker, Unemployed, Retired, etc. What you enter as your occupation will not affect the calculations in your return in any way.
To enter or modify either the taxpayer's occupation or spouse's occupation in your TaxAct return, go to our Changing Basic Information (Name, SSN, Birthdate) FAQ.