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Contributed by: AndyS, FreeTaxUSA Agent, Tax Pro The One Big Beautiful Bill Act (OBBBA) passed this year and will introduce several tax law changes, affecting 2025 tax returns. One of these changes is the child tax credit (CTC). Many taxpayers with dependents find a lot of relief with the child tax credit on their tax…
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro The new tax law was signed on July 4, 2025. It includes a provision that allows people who are paid in tips to take a deduction of up to $25,000 if they meet certain requirements. The new law allows the deduction from 2025 until 2028. While the IRS has additional guidance…
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law. This new law extended and replaced the Tax Cuts and Jobs Act (TCJA), which was set to expire at the end of 2025. The OBBBA takes effect from 2025 through 2028. You may be wondering what…
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…
I filed last minute this year because I submitted my documentation but the CPA never responded and I kept following up but got nothing - it wasn't something I really wanted to do at the time, so I just didn't put much effort in it. I ended up with a significant payment due. I have been doing some research and am trying to…
Am I able to do returns for other people for pay if I have just a PTIN? If so are there any restrictions as to how many returns I can use this software to process?
I filed my taxes last week and I want to know where my refund is at
Scenario: W2 Income for Q1 only (retired for example; Dividends, Stock sells, and Roth conversion for Q4. Estimated tax payments are very small for Q1, Q2 and Q3 with 90% of the estimated payments happening in Jan covering Q4. You slightly overpaid in either withholding or estimated taxes and are due a small refund - let's…
I was trying to setup a passkey and I am getting this error. "This browser/device isn't compatible with passkey" I currently have Firefox 144.0 on Windows 11 Pro. (all fully updated) Not sure if it is FTU and Firefox that is the problem or a Firefox issue or FTU web page. I am covering all bases by posting here and at a…
Why does a return have to be Paper filed with carryover adjustments on Form 1116?? In the past, I had to remove the carryover just ot efile
I see that I’m able to efile my 2023 return if I obtain an IP PIN. Does anyone know if only the primary taxpayer that’s doing the return needs to get one or does my spouse and dependent need one too?
Can i still use the same email for several accounts ? I tried to create one and its telling me that I already have another account with that email. thanks
Hello, I need help ensuring I am correctly reporting a transaction for my 2024 tax return. The Situation: In 2024, I contributed $6,999.96 to a Roth IRA but had no earned income for the year. In September 2025, before my tax filing extension deadline (Oct 15), I had my broker (Schwab) process a "return of excess…
Hi Tax Experts, I’m looking for clarification on how to handle the Amazon Vine program for my tax return. Participants receive products in exchange for reviews, and I’ve received a 1099 form for the fair market value of the items. The confusion lies in how to classify this activity: Is it considered a hobby or something…
This is my first year driving door dash. I made 300$ and never received a tax form. Wondering where in the software I would report this?
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