My husband inherited his parents home along with his 6 other siblings on 9/14/2018. We sold the home on 12/13/24. We did not live in this home but two of the siblings did up until 2 years ago. I know there is capital gains tax we have to pay from this sale. We got a 1099S from the sale and a settlement statement showing…
where will I file a 403b that I cashed out in 2024
I am recently retired. I receive Annually approximately $23,000 in Social Security, and a Small Pension of approximately $12,000. I want to take money from an IRA account that I set up after transferring funds from my 401k plan. I am single and plan to take the Standard Deduction Exemption on my taxes. What is the maximum…
I took a traditional 401k account and converted that into a Charles Schwab Rollover IRA, then transferred those funds into a Roth Contributory IRA. So now I have a 1099-R for this transfer. When trying to enter this information into my return the following questions are presented in yes/no fashion: "Is this a Roth…
I'm a Michigan resident and sold an inherited rental property in New York in 2024. I'm almost positive I have entered everything correctly across my Fed 1040, Sch E, 4797, etc. and non-resident New York return with everything allocated to NY. I'm an active participant, but definitely not a real estate professional so no…
I am working part-time. I have an IRA with one online broker, a 401 K from a former employer with their custodian, and a 401 K with my present employer. I turn 74 this year. When I log into my accounts of the first two, it tells me the amount that I should take for the RMD. I took the RMD for last year and this year for…
Second year in a row I owe $1 for federal. I claim 0 and file single and made under 48,000. Does this seem right?
hello! I am 23 years old and filing taxes. As I learn more, I am finding new things I had forgotten in the past. My father passed away in 2020 and I inherited his 401k plans, 401b, brokeragelinks (do not know what I am talking about here, just listing what is on fidelity.) I closed the accounts by the end of 2023 and…
We have been filing income tax as married filing jointly as a family or 3 - Both parents are resident alien for US taxes and son is US citizen. All three of us have SSNs. In the year 2024 my spouse did not have US income since they dint have work authorization in the US. Do we qualify for the Child Tax Credit?
Hello, in my 2023 tax return I claimed tax treaty exemption on form 1040 by entering a negative number on form 1040 line 8 and schedule 1 line 8z (Other Income, Miscellaneous Income). I just realized I need to adjust my income on form 540 (California Resident Income Tax Return) because tax treaty exemption does not apply…
Hi doing my taxes now and at the point where Free Tax is asking about local tax. I know that local tax, Phila city wage can be used as sort of a credit towards NJ state taxes per se. That there is a reciprocal agreement. Free Tax is asking… Select the state return this local tax withheld needs to be reported on. What…
I need to file 2022 taxes still. No judgement please. I would like to take care of doing this at the same time I file my 2024 taxes. This year is different though because I do have a dependent.
I owe for 2021 and 2022 (married joint) and owe a combined to total of $9815.00 for those years. File for hardship? I am definitely eligible. I'm trying to not do the advocate through the IRS. I need to amend 2023 to married single (legally separated) I don't owe for 22 but I will get a refund back. If I'm calculating it…
Hello, I have sold a residential rental property that I have depreciated in past years. How do I addmdepreciation recapture to my 2024 tax return? Thanks.
I gave each of my daughters a 10K to 15K gift in 2024. Do we have to report it on our returns?
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