In TaxSlayer ProWeb, adjustments, itemized deductions, and credits are entered within the Deductions Menu.
Adjustments
Under the Adjustments menu, you will find the following forms and adjustments:
- Medical Savings Account Form 8853
- Educator Expenses
- Expenses for Reservists, Performing Artists, and Qualifying Government Employees
- Health Savings Account Form 8889
- Moving Expenses Form 3903
- Contributions to SEP, Simple, and Qualified Plans
- Self-Employed Health Insurance
- Penalty on Early Withdrawal of Savings or CD
- Alimony Paid
- IRA Deduction
- Nondeductible IRAs Form 8606
- Student Loan Interest Deduction
- Tuition and Fees Deduction
- Other Adjustments
- Amortization Deduction for Reforestation Costs
- Trade Readjustment Allowance
- Jury Duty Pay
- Section 501(C)(18)(D) Plan
- Personal Property Rental Expenses
- Contributions by certain chaplains to 403b plans
- Certain attorney fees (see 1040 instructions)
- Section 67 Excess Deduction
- IRS Reward
- Olympic Medal
Deductions
The program will automatically use the larger of standard or itemized deductions, based on the information that has been entered, however you can force it to use itemized deductions if desired. To force the use of itemized deductions, within the return select:
- Federal section
- Deductions
- Itemized Deductions
- Use Standard or Itemized Deduction
- Select Force to use itemized deduction, then Continue
Under the Itemized Deduction menu, you will find the following categories of deductions:
- Medical and Dental Expenses
- Mortgage Interest and Expenses
- Taxes You Paid (the program will automatically pull state and local from the W-2)
- Gifts to Charity
- Unreimbursed Employee Business Expense
- Job-Related Travel Expenses Form 2106
- Miscellaneous Deductions
- Amortizable premium on taxable bonds
- Federal estate tax on income in respect to a decedent
- Gambling losses to the extent of gambling winnings
- Impairment-related work expenses
- Repayment under claim if right greater than $3000
- Unrecovered investment in pension
- Tax Return Preparation
- Safe Deposit Box Rental
- Investment Fees and Expenses
- Add/Edit Miscellaneous Deductions (for any additional not listed already)
- Less Common Deductions (Casualties and Losses, Business Use of Home, Investment Interest)
- Casualties and Losses
- Business Use of Home
- Investment Interest
Credits
Under the Credits Menu you will find the following forms:
- Recovery Rebate Credit
- Foreign Tax Credit Form 1116
- Child Care Credit Form 2441
- Education Credits Form 1098-T
- Retirement Savings Credit Form 8880
- Residential Energy Credit Form 5695
- Adoption Credit Form 8839
- Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals Form 7202
- DC First-Time Homebuyer Credit Form 8859
- Mortgage Interest Credit Form 8396
- Claiming Certain Credits after Disallowance Form 8862
- Earned Income Credit (EIC) Checklist
- Credit for the Elderly or Disabled Schedule R
- Alternative Motor Vehicle Credit (Hybrid Cars) Form 8910
- Qualified Electric Motor Vehicle Credit Form 8936
- Small Employer Health Insurance Premiums Form 8941
- Credit for Federal Tax Paid on Fuels Form 4136
- Credit for Increasing Research Activities from Pass-through Entities Form 6765
- Investment Credit Form 3468
- Advance Child Tax Credit Form 8812
