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Contributed by: TriciaD, FreeTaxUSA Agent, Tax Pro For many employees, the annual arrival of W-2 forms signals the start of tax season. While most people focus on wages, federal income tax withheld, and social security details, Box 14 often stands out as a source of confusion. What do the codes in Box 14 mean, and how do…
Contributed by: CoryF, FreeTaxUSA Agent, Tax Pro You’ve heard about the new ”No Tax on Overtime” deduction from the One Big Beautiful Bill Act (OBBBA), and you have your 2025 W-2. Now you’re wondering what this deduction means for you and how to apply it to your tax return. This article will help you understand the…
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 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: 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: 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: 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 took a late RMD from the IRA, so I need to file Form 5329. Per the IRS instructions, I can request a waiver on the fee under the following circumstances: "The IRS can waive part or all of this tax if you can show that any shortfall in the amount of distributions was due to reasonable error and you are taking reasonable…
My employer stole money from me, as a result he pays for my health insurance. So should he be responsible for monies owed to the marketplace or whoever
Since I retired in 2025 and received a retirement benefit from School Employees Retirement System is part of his social security taxable? I don't quality for social security because I worked under SERS. Do I have to include his social security on my tax filing for 2025?
I'm filling out Rental Income (Schedule E) as I had a rental property for the first 2 months of 2025. For those 2 months, I collected 0 income based upon a mediation agreement but incurred expenses. Once the property became vacant, it became my primary residence. When I filled out the rental income portion and answered…
My daughter's scholarships/grants exceeded her tuition and she is commuting so she has travel expenses (gas, food, etc) but no actual room and board since she is living at home. If she claims the scholarships/grants as income on her return, can I allocate those funds to "qualify" them for the AOTC even if she did not have…
We are trying to file 2023 and 2024 taxes this year and they keep getting rejected. I have been to the IRS website so many times to triple check. It wouldn’t let me e file these old returns without a spouse IP PIN in addition to mine, so he got one online Friday. Rejected with that pin Friday, rejected Saturday, rejected…
Hello, My understanding is we need to declare the life insurance policy details as part of the Foreign Investment and it is needed to declared on FBAR as well as Form 8938 depending on the amount. But I wanted to check whether should we declare the life insurance in the foreign country also declared in this form 8938.…
This discussion was created from comments split from: I need speak with the representative please !!.
FTUSA asks two questions which are leading to an incorrect entry on SCH HC line 4. The first question asks if the health insurance is private, the second question asks if it's Health Connector. If you have health insurance thru MA Health Connector it's private insurance. You therefore end up with two boxes checked on line…
In 2025 I participated in a paid fellowship program with the University of Texas HSC - Houston for a professional certification. Disbursement of the funds required completion of milestones at various intervals throughout the fellowship program, and continued participation until the fellowship ended in August 2025. What…
This discussion was created from comments split from: Error on filing statev.
Trying to file and I'm getting a message about the 1095-A not allowing e-file that has no premiums. Other softwares allow this. I only had health insurance for part of the year.
I worked in a different country for 3 months and was deducted the foreign taxes in that country. I did not receive a W-2 or any US tax form of that sort. Where in FreeTaxUSA can I file this? If it is not supported, what can I do?
Please advise how to remove Form 8995 Qualified Business Income Deduction. I have to pay for some capital gains and also doing a ROTH conversion but do not have a business. Thank you.
Customer support keeps telling me to enter manually. I have 128 pages in my form and by the time I finish entering one by one, the tax deadline will be over. I keep getting the following error message when trying to upload form: Yourfilefailed to import. Please upload the Consolidated 1099 provided by TRADESTATION. Its a…
On my W2 the 1st section shows a smaller dollar amount for line 18 then in the next section over line 18 has a higer dollar amount when added together the the total is my total annual income but both box 18s have the exact same locality code under them so its not like they are representing different taxes paid to different…
Hi I have a consolidated 1099 due to the sale of some Restricted Stock Units (RSU) through employer plan The page 1 summary says IRS 2025 FORM 1099 DIV — DIVIDENDS AND DISTRIBUTIONS …1a…1b…2a…2b…2c…2d…3…4…5…6…7…8…9…10… IRS 2025 FORM 1099-B—PROCEEDS FROM BROKER AND BARTER EXCHANGE TRANSACTIONS … 1e. COST OR OTHER BASIS OF…
Hi! my situation is a little silly! I filed my taxes here on free tax and forgot to file a w2, since I have multiple jobs. I amended it but now I owe way more money then expected. I went to turbo tax and I was getting money back with all the same info. how is it different between the websites. if I filed originally here on…
I received some advice to use my Roth IRA as a savings account (I'm not retired) so that my funds can be invested and not sitting in the bank, as long as I don't withdraw any growth that those funds had. This past year I needed a chuck to make a larger purchase and took it from my Roth. I took out an amount less than I…
With the OBBA and the new overtime deduction, how do I properly calculate the half amount of time and a half overtime? And where would I find the information on my forms?
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