Hello, Thank you for taking my question. I sold a property in India around April 2024. After appropriate taxes were withheld, I deposited the sale proceeds into my bank account in India. I recently wire transferred the sale proceeds to my US bank account. All relevant documentation is available - sale deed, deposit slips,…
I purchased a 100% C Corp stock in August 2024. (I'm an individual.) The previous owner (Corporation) was filing a consolidated return. The C Corp which I just purchased was one of the previous owner's subsidiary corporations. So, I couldn't get a copy of 2023 tax return. Questions below. In this case, how can I report the…
I have a self employment business separate from a rental house I own. I am thus using Form 4562 for my self employment business to depreciate property. My problem is that Freetaxusa is incorrectly adding in rental loss from Schedule E into the business income calculation for Line 11, despite answer 'No' to the question,…
Hi, I have seen the option to add a PTIN and EFIN but I have a few questions: How many file returns could I send as a tax preparer? Is there an extra fee for using the software as a tax preparer? Thanks for your help!
I removed excess 2023 Roth contributions in January of 2024. I will not receive a 1099-R from Vanguard until 2025. Can I create a dummy 1099-R to pay tax on my 2023 earnings or do I need to wait for the official 1099-R and file an amended return? Is there some other way to claim the income on the 2023 earnings?
Hello, I'm a non-resident currently in the United States on an F1 visa. I have questions about tax forms and filing requirements while on OPT. I'm a citizen of India. As an OPT holder, I'm allowed to work as an independent contractor/freelancer during the first year of my OPT, and I would need to understand taxation during…
I forgot my sign in info. So I went to find out my username. Then I followed the link to reset my password. It asks your username, social security number, and email address (I had to change my phone number so I can’t use that method). From that email you are sent a code to reset the password. But if close the link, it…
Hello all, I am a software consultant and just realized I have been filing my S corp as a C corp, What are the tax implications of doing this? Should I be able to do an amendment or consult a tax preparer for help? Thanks in advance
I am the sole beneficiary on a stock worth $100,000 that needs to be distributed to three other people (brothers). What is the best way to do this?
Hello everyone, I acquired a house in 2009 in Vietnam and immigrated to the USA for the first time in 2015. Now in 2024, I want to sell that house and transfer the money to the USA. I have a couple of questions that I need help with: 1. Do I need to pay US taxes for that sale (the Vietnam tax for that sale is 2% of the…
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