What is in the Deductions Menu in ProWeb? 

In Taxx Savage ProWeb, it is in the Deductions Menu that the itemized deductions, adjustments and credits are entered. 

Based on the entered information, the program automatically uses either the standard or itemized deductions, whichever is larger. Should you desire to, you can customise the program to only use itemized deductions. To do this: 

• Go to the Federal Section within the return 
• Proceed to the Deductions section 
• Then to the Itemized Deductions 
• From there select “Use Standard or Itemized Deduction” 
• Then select Force to use itemized deduction 
• Once done, click Continue. 

The following deduction categories are found in the Itemized Deduction menu: 

• Medical and Dental Expenses 
• Mortgage Expenses and Interest 
• Taxes You Paid - From W-2, the program automatically pulls state and local 
• Charity Gifts 
• Employee Business Expense that has not been reimbursed 
• Form 2106 - Job-Related Travel Expenses 
• Miscellaneous Deductions 
  • Amortisable 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

The following forms and adjustments are found in the Adjustment Menu: 

• 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
• Domestic Production Form 8903
• Other Adjustments
  • Amortisation 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)

3. Credits 

The following Forms are found in the Credits Menu: 

• 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
• DC First-Time Homebuyer Credit Form 8859
• Mortgage Interest Credit Form 8396
• Claiming Refundable 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