TaxAct 2020 Professional Federal Editions Update (Version 1.15 for 1040 and Version 1.09 for 1120-S & 990)

Version 1.15 for 1040 and versions 1.09 for 1120 & 990 are now available for TaxAct 2020 Professional Federal Editions. These updates include:

• Increased field length for taxpayer and spouse driver’s license number on Basic Info Worksheet
• Updated disaster distributions not subject to penalty calculation on Form 5329
• Updated SE Tax Deferral Worksheet per revised Form 1040 instructions
• Added new line to Charitable Contributions Worksheet for charitable contributions subject to 25% limitation
• Updated Form 990-T, Schedule A, Other Deductions Worksheet for specific deductions
• Added Schedule A, Form 990-T, Partnership/S Corporation Income (Loss) Worksheet
• Added proxy tax calculation for Form 990-T
• Other minor bugs and enhancements

You can also check for updates at any time by clicking the Online –> Check for Updates menu.