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TaxAct 2013 Business Software Update Information

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TaxAct 1120s Federal Version 1.02 Updates (Released 4/9/2014)

Form Updates:
  • A modification was made to correct the depreciation calculation for 39 year S/L property placed in service during the 2013 tax year on short year returns
  • A modification was made to correct the luxury auto limits for listed property (light trucks/vans) placed in service during the 2012 tax year (second year of service)
  • A modification was made to print the total other expenses on Form 8825, along with "see attached", when expenses are entered on the supporting worksheet

TaxAct 1120s Federal Version 1.01 Updates (Released 2/14/2014)

Form Releases:
  • Form 2553 – Election by a Small Business Corporation
  • Form 5884 – Work Opportunity Credit
  • Form 8846 – Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips
  • Form 8910 – Alternative Motor Vehicle Credit
Form Updates:
  • Adjustments were made to correct the printed version of Form 8825, other expenses
  • Adjustments were made to correct the printed version of Form 4562, Part III
Instructions:
  • Form 1120S
  • Form 5884
  • Form 8846
  • Form 8910
  • Form 8941
  • Schedule D
  • Schedule K-1

TaxAct 1120 Federal Version 1.02 Updates (Released 4/10/2014)

Form Updates:
  • A modification was made to correct the depreciation calculation for 39 year S/L property placed in service during the 2013 tax year on short year returns
  • A modification was made to correct the luxury auto limits for listed property (light trucks/vans) placed in service during the 2012 tax year (second year of service)

TaxAct 1120 Federal Version 1.01 Updates (Released 2/18/2014)

Form Releases:
  • Form 2553 – Election by a Small Business Corporation
  • Form 5884 – Work Opportunity Credit
  • Form 8846 – Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips
  • Form 8910 – Alternative Motor Vehicle Credit
Instructions:
  • Form 1120
  • Form 5884
  • Form 8846
  • Form 8910
  • Form 8941

TaxAct 1065 Federal Version 1.02 Updates (Released 4/9/2014)

Form Updates:
  • A modification was made to correct the depreciation calculation for 39 year S/L property placed in service during the 2013 tax year on short year returns
  • A modification was made to correct the luxury auto limits for listed property (light trucks/vans) placed in service during the 2012 tax year (second year of service)
  • Users are now able to change the country of citizenship reported on Schedule B-1, if citizenship is not consistent with their residency
  • A modification was made to print the total other expenses on Form 8825, along with "see attached", when expenses are entered on the supporting worksheet

TaxAct 1065 Federal Version 1.01 Updates (Released 2/19/2014)

Form Releases:
  • Form 2210 - Underpayment of Estimated Tax by Individuals, Estates and Trusts
  • Form 2210-F - Underpayment of Estimated Tax by Farmers and Fishermen
  • Form 5884 - Work Opportunity Credit
  • Form 6478 - Biofuel Producer Credit
  • Form 8834 - Qualified Electric Vehicle Credit
  • Form 8846 - Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips
  • Form 8864 - Biodiesel and Renewable Diesel Fuels Credit
  • Form 8907 - Nonconventional Source Fuel Credit
  • Form 8908 - Energy Efficient Home Credit
  • Form 8910 - Alternative Motor Vehicle Credit
  • Form 8911 - Alternative Fuel Vehicle Refueling Property Credit
  • Form 8936 - Qualified Plug-in Electric Drive Motor Vehicle Credit
  • Form 8960 - Net Investment Income Tax Individuals, Estates, and Trusts
Form Updates:
  • Adjustments were made to correct the printed version of Form 8825, other expenses
  • Adjustments were made to correct the printed version of Schedule B-1, direct and indirect ownership percentage
Instructions:
  • Form 1065
  • Form 5884
  • Form 8846
  • Form 8910
  • Form 8941
  • Schedule D
  • Schedule K-1