Federal tax Q and A in TaxACT

Pt. 5 of 10 | 2:32 |

TaxACT tax preparation software

Friday February 26, 2010

By the time you're ready to

do your taxes

you should have received all the documentation you need. The Federal Q and A tab is where you'll enter information from W-2s, 1099s and other forms whose alphanumeric index only means something to accountants and the IRS. TaxACT makes it easy, which is just the way we like it.

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Show Notes

- On the Federal Q and A tab you can have TaxACT guide you or you can select things by yourself.

- Once again keep in mind that the screens you will see will depend on the options you pick and the information you enter.

- If you use the Step-By-Step Guidance it will walk you through the entire Federal portion.

- Note that if you don't enter something in a field that TaxACT doesn't stop you from going forward.

- When you reach the end of the income section you get a summary called the Income Examiner.

- When you've gone through the entire deductions section you'll get a Deduction Examiner page that summarizes your deductions.

- After you answer questions pertaining to credit you'll also get a summary called Credit Examiner.

- These "examiner" pages help you to clearly see what is included and if you've missed anything.

- You'll come to the Federal Tax Summary page that summarizes everything.

- When you reach this point you can print your return.

- You can also print out Q and A topics if you need clarification but don't like reading on-screen.

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