Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro With the introduction of online brokerage accounts and apps for smart phones, more people are investing in the stock market on their own. The statement you get from your brokerage company will likely be a composite or consolidated statement and will have several 1099…
Contributed by: RachelR, FreeTaxUSA Agent, Tax Pro and Henry, FreeTaxUSA Agent, Tax Pro This article applies to 2024 and later. The basic example assumed both the traditional IRA contribution and the Roth conversion step happened in the same year (for example, both events happened during 2024, for the 2024 tax year).…
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro Not receiving your tax refund when expected can be extremely frustrating. To make the issue worse, the IRS is not very clear as to why your refund is taking more time. While FreeTaxUSA doesn't have any control over IRS refund processing, we can provide some ideas on why…
Contributed by: Henry FreeTaxUSA Agent, Tax Pro The sale of an inherited home is a significant event that comes with its own set of tax implications and requirements. Understanding how to correctly enter Form 1099-S from a sale is crucial for accurate tax reporting and compliance. Information required to report the sale…
When filing my federal and state returns on 4/13 and choosing direct debit from savings to pay what was owed, neither before nor after receiving the standard 'Congratulations', was any information of any kind provided by FreeTaxUSA, that some banks do not allow direct debit from a savings account. Consequently I was not…
My AGI this year will be approximately $50K. I have a rental property that I rented for 4 days at about $1200. I spent about 90 days at the property. I materially participate in managing and maintaining the property. I have $30K in carryover losses. Can I offset other income up to $25K this year with those carryover losses?
I tried to do file my taxes on freetaxusa but it got rejected so I decided to use TurboTax is there any possible way to cancel and get my money once’s it’s been rejected by irs??
verifying my free tax submission they asked me if I paid to have my taxes dies free tax count as " paying someone"
Hi Tax Experts, I’m looking for clarification on how to handle the Amazon Vine program for my tax return. Participants receive products in exchange for reviews, and I’ve received a 1099 form for the fair market value of the items. The confusion lies in how to classify this activity: Is it considered a hobby or something…
My tax deposit in my account showed it came from a bank and not the IRS. How can I prove that the money the bank deposited in my account came from the IRS. This has my Medicaid messed up
I need to find out my tax returns were filed, submitted to IRS
I'm moving to Europe soon and for next year (2026) I'd like to know if I can still file my U.S. Federal taxes using FreeTaxUSA if I'm no longer a U.S. resident. I do not work so there will be no foreign earned income. I only have to file/report my small work pension from the U.S. which is also not enough income to pay…
I made a mistake on my 2023 NY State tax return, and I will need to submit an amended NY State tax return (to change my residency status from full-year to part-year resident) to claim a refund. There are no mistakes on my federal return, and I did not file my taxes for the 2023 tax year with FreeTaxUSA. I see that it is…
Do you need to report gambling winnings if you didn't win over $300 per gambling session and you lost the same amount during each gambling session. example: bought in for $50, gambled for an hour, won $50 for a break even session? Never won over $300 at a time and never got a W-g form.
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