Question

Federal Software Updates

Accepted Answer

As TaxAct Federal editions are updated, details will be added below to highlight what’s new in each release.

1040 Edition - 2025

Form 1062 - Deferral of Tax on Gain From the Sale or Exchange of Qualified Farmland Property to Qualified Farmers not released. Prevents e-file and printing.

03/12/2026 Release
- Child Tax Credit (CTC): Fixed an issue where dependents with SSNs not valid for employment were incorrectly qualifying for the Child Tax Credit.
- ADS Straight-Line Depreciation: Corrected a rounding issue in ADS (Alternative Depreciation System) calculations.
- Bonus Depreciation Statement: Fixed the print output for the No Bonus Election statement so it now renders correctly.
- State Depreciation Worksheet: Fixed a rounding issue on the state depreciation worksheet.
- Schedule A (1040-NR): Multiple fixes to Schedule A routing and calculations for nonresident returns and wayfinding dashboards.
- 1099-Q Box 4b: Added the previously missing Box 4b field to Form 1099-Q — now available in the form, interview, and calculations.
- Luxury Auto Limits: Updated luxury vehicle depreciation limits for tax year 2026 future depreciation projections.
- W-2 Topics: Added a new page for topics automatically created from W-2 data entry, streamlining the interview for wage earners. (Removed legacy W-2 icons.)
- OCR Import Improvements: Text clarification and field math corrections for OCR-imported documents.
- Form 1099-DA - Add alert if ‘Various’ for date sold.

1041 Edition - 2025

Form 1062 - Deferral of Tax on Gain From the Sale or Exchange of Qualified Farmland Property to Qualified Farmers not released. Prevents e-file and printing.
Form 8933 - Carbon Dioxide Sequestration Credit not released. Prevents e-file and printing.

03/12/2026
- Enabled the Amended Return question-and-answer interview flow.
- Updated the SALT (State and Local Tax) deduction worksheet to reflect re-released IRS instructions.
- ADS Straight-Line Depreciation: Corrected a rounding issue in ADS (Alternative Depreciation System) calculations.
- Bonus Depreciation Statement: Fixed the print output for the No Bonus Election statement so it now renders correctly.
- State Depreciation Worksheet: Fixed a rounding issue on the state depreciation worksheet.
- Form 1099-DA - Add alert if ‘Various’ for date sold.

Form 1062 - Deferral of Tax on Gain From the Sale or Exchange of Qualified Farmland Property to Qualified Farmers not released. Prevents e-file and printing.

03/12/2026
- Form 3468 - Corrected the form not printing when only Part V was present.
- Form 8825 - Corrected the form not printing in certain situations.
- Add a Partner list to the interview.
- ADS Straight-Line Depreciation: Corrected a rounding issue in ADS (Alternative Depreciation System) calculations.
- Bonus Depreciation Statement: Fixed the print output for the No Bonus Election statement so it now renders correctly.
- State Depreciation Worksheet: Fixed a rounding issue on the state depreciation worksheet.
- Form 1099-DA - Add alert if ‘Various’ for date sold.

Form 1062 - Deferral of Tax on Gain From the Sale or Exchange of Qualified Farmland Property to Qualified Farmers not released. Prevents e-file and printing.

03/12/2026
- ADS Straight-Line Depreciation: Corrected a rounding issue in ADS (Alternative Depreciation System) calculations.
- Bonus Depreciation Statement: Fixed the print output for the No Bonus Election statement so it now renders correctly.
- State Depreciation Worksheet: Fixed a rounding issue on the state depreciation worksheet.
- Form 1099-DA - Add alert if ‘Various’ for date sold.
- Short Year Depreciation: Fixed an issue where depreciation was not being prorated correctly for short-year 1120 returns.
- Schedule C Worksheet: Corrected calculation on Sch C worksheet line 29.

Form 1062 - Deferral of Tax on Gain From the Sale or Exchange of Qualified Farmland Property to Qualified Farmers not released. Prevents e-file and printing.

03/12/2026
- Form 3468 - Corrected the form not printing when only Part V was present.
- Form 8825 - Corrected the form not printing in certain situations.
- ADS Straight-Line Depreciation: Corrected a rounding issue in ADS (Alternative Depreciation System) calculations.
- Bonus Depreciation Statement: Fixed the print output for the No Bonus Election statement so it now renders correctly.
- State Depreciation Worksheet: Fixed a rounding issue on the state depreciation worksheet.
- Form 1099-DA - Add alert if ‘Various’ for date sold.

03/12/2026
- Corrected a print layout issue on page 2 of Form 990-PF.
- ADS Straight-Line Depreciation: Corrected a rounding issue in ADS (Alternative Depreciation System) calculations.
- Bonus Depreciation Statement: Fixed the print output for the No Bonus Election statement so it now renders correctly.
- State Depreciation Worksheet: Fixed a rounding issue on the state depreciation worksheet.

01/20/2025 – Update V1.01
- Updates poverty levels for Form 8962.
01/23/2025 – Update V1.01
- Form 8283 Donee signature attachment is now required.
- 1040 Schedule 3, Line 13z, the write-in option has been removed.
- An alert has been added for those who may have already entered any information.
02/03/2025 – Update V1.02
- Issue with the creation of Form 4136 worksheet has been fixed.
- Fix situations where Form 8936 and Form 8936 Schedule A were not being filed.
- Corrected when Form 8936 and Form 8936 Schedule A are being created.
02/05/2025 – Update V1.03
- The validation stopper for Form 8936 e-file has been removed.
02/07/2025 – Update V1.04
- Validation stopper has been added for Form 8910.
- Updated Form 8936 to use "Percent to Ratio Type".
02/10/2025 – Update V1.05
- Turn on Form 8915 and Form 8915F.
02/20/2025
- Form 8936 EF Alert Type added.
02/21/2025
- Remove validation stopper for Form 8910.
02/23/2025
- Form 5695 EF Alert Type added. Update to Estimated Payment Vouchers.
02/26/2025
- Form 8908 trigger added.
02/28/2025
- Form 8889 deduction calculation has been updated.