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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…
Can someone please help me answer this tax question below and how to apply it, if necessary? My taxes were withheld from my IRA account in 2025. Thanks! "The potential Massachusetts taxable amount of IRA distributions from your federal return is $2,210. From this amount, subtract any IRA contributions that haven't already…
Posting this under General, because there is no category for Taxes. For the above form and line, the IRS instructions state, "Include state, local, and foreign income taxes you paid for the tax year that are attributable to NII. Include also state, local, and foreign real property taxes paid for the tax year, as well as…
With all the new adjustments this year handled on Schedule 1-A (No Tax on Tips, No Tax on Overtime, and the Enhanced Deduction for Seniors), the IRS's way of dealing with them on 2210 Schedule AI was to tell you to just adjust for them when going from Line 13 which is essentially your annualized taxable income before the…
I am married filing jointly with my wife. We have 1 child. We spent about $15K in daycare expenses and maxed out the $5K Dependent Care FSA, which was entered in the W2 section. I inputted the full $15K but the software told me that I don't qualify for the the Child Care Credit. The Deductions/Credit summary page shows $0…
I am married filing jointly with my wife. We have 2 kids in two separate daycare. We both have Dependent care FSA through our jobs and we contributed a total of $5000 between us. We want to claim the Child care credit since the IRS allows you to apply up to $6,000 of dependent care expenses to your taxes (2 or more…
I just completed my 2025 tax return only to discover days later that I forgot to submit 2 1099-DIVs (from the same company) the last two years (2024, 2025). I filled out an amended tax return and I don't owe anything on the federal level. Do I still send in the amended federal tax return or should I only send in state,…
As part of an IRA rollover processs (rolling into 401k) I initiated in end of 2024/early 2025, I’d earned a small amount in interest that got disbursed to me as checks (two separate disbursements) that I ended up depositing in my checking account, which I believe should end up counting as an early withdrawal. However, on…
Per 2025 IRS 1040 instructions: If the distribution from your IRA is fully taxable, enter the total distribution on line 4b; don’t make an entry online 4a. On the 1099-R for this distribution, my entries are: The Box 1, Box 2a (same $ amount on both lines) Check 2b, taxable Amount Not Determined Box 7 dist code = 7…
I filed on 1/27
If I have gambling winnings w-2 to claim on my taxes and I also have gambling losses to claim, how do I file on FreeTaxUSA?
i need to file taxes for others i have a ptin for 2026 renewed
Hi, last year on 1/3/25 I made an excess $7000 Roth IRA contribution for the 2024 tax year. I did not remove the $7000 from the Roth IRA account and paid the penalty on my 2024 taxes. I am now filing my 2025 taxes and am still incurring a tax penalty for the $7000 excess 2024 Roth IRA contribution that I left in the…
Freetax uses greendot so I expect help from freetax. The IRS website states my money haS been deposited. I agreed to pay my fees with my return, So santa Barbra bank, by all logic has my return. They're supposed to take their fees and release it. Now its the 23rd, the day I should have received my deposit and NOTHING.…
In my household, my oldest one started working in the middle of Jan last year, and he is not my dependent anymore. He even lives separately in different city. But for the month of Jan, I kept him on my marketplace insurance. Starting Feb I removed him from my marketplace insurance since he was going to have his own…
How do I check that box on the 1040 that my dependent is a full time student? I have gone back to the Personal Information section and edited the dependent but that is not a question there.
Is FreeTaxUSA going to provide eFile Options for professionals to transmit RITA returns for City/Local taxes? Attention Software Developers All software vendors and products must register annually. Please submit one or both of the following forms: Tax Year 2025 RITA Form 37 MeF Application - Individuals Tax Year 2025 RITA…
This may be a dumb question - we recently had a baby but it took longer than expected to receive his SSN. So ultimately I filed taxes and got a refund (I don't remember exacts so this is just an example figure) of lets say $5,000 federal, $500 state. After completing the amendment, it changed to $0/$0 and then (again,…
I've been filing my freelance computer programming income as self-employment for the past 18 years (and it was my only source of income until 2019), but I'm now retired (72), living off Social Security benefits, and my programming work is only bringing in $2-3K a year. Would I be better off filing my programming income as…
I have recevied a check for a class action settlement I signed up for that is just under $500, it is a google settlement about personal data so it is not physical injury or paying funds owed. I am wondering about what the tax protocol for that is and am having a hard time finding that online. Just trying to plan ahead of…
This is my 2nd year using this application. I notice that it only mentions FEDERAL and STATE taxes. But never CITY taxes. When I used a preparer they always processed city taxes. Hope I'm not confused. Can anyone help?
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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