How to Fix Data Errors in TaxCut Software

The data checking functions in TaxCut tax-preparation software can be annoying. But they can also save you money by preventing errors that might cause delayed processing of your return and refund, leading to interest, penalties and tax audits. In order to use these functions and correct errors effectively, you should always find the source of the error where it was first entered or imported.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• TaxCut tax-preparation software

Fix Data Errors in TaxCut Software

1. Select "Mark Entry Tentative" from the "Edit" pull-down menu at the top of the TaxCut screen to flag certain data as you enter it. This feature can be used with any information you enter, whether it is directly on a tax form or in an answer you provide to a question in TaxCut's taxpayer-interview process.

2. Respond to TaxCut error-correction prompts while you are entering data in the program.

3. Select the "Review Your Entries Report" from the "Reports" pull-down menu at the top of the TaxCut screen to view a list of all information you have entered directly in your tax file. You'll also see information you have imported or given as an answer to an interview question. This list excludes entries calculated for you by TaxCut.

4. Fix any errors in your information by changing the values directly on the report. TaxCut will then recalculate other data that depends on the values you changed.

5. Edit any value on the "Review Your Entries Report" by moving the cursor to the "Entry" field and typing in a corrected value.

6. Remove any value on this report, and leave a blank or "Zero" entry by deleting the value currently in that field.

7. Edit or delete imported data by going to the corresponding topic in the interview and tax-preparation process. Use the "Edit" or "Delete" button.

Tips & Warnings

• TaxCut's software provides a very helpful, interactive safeguard called the "Review Your Entries Report." This report will help you find the ultimate source of any incorrect information in your tax return. It will also help you avoid making troublesome changes in calculations that TaxCut has made.
• You must fix the underlying cause of incorrect data in your tax file rather than simply overriding it and entering corrected information. If you leave an error on a source screen or a primary document, such as your W-2 or 1099, it will probably keep coming back to haunt you, no matter how many times you try to override it.