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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…
Hi, I received a 1099-K from Paypal from selling some tickets on StubHub (several transactions totaling between ~$2k-3k). These were my personal use tickets that I ended up selling because I could no longer attend. I do not have a business doing this. The 1099-K form shows the gross amount I received and does not take into…
She has lived with me since 9/2024 and has been unable to work since then. she receives a small monthly SNAP allowance.
I am entering my 1099-NEC into the system, and I am getting an error that says: "You've entered an invalid EIN 19xxxxxxx for the Payer Identification Number." I am definitely entering the number that is on the 1099-NEC that was provided to me, so I don't understand what I am supposed to do.
Can I apply Foreign Tax Credits (FTC) on Form 1116 (Line 10) carried over from 2024 that were calculated in the Alternative Minimum Tax (AMT) method if my AMT is $0 in 2025?
My understanding is that Free Tax USA and Turbo Tax packages are having difficulties in accepting the $200 or $400 checks from the state in 2024. A glitch in the programs is preventing the input. The checks are not state taxable but may be federal. Since FT USA asks if you received the check then rejects the amount with…
in my W-2, box 14 consist of NYSDI and NYPFL with two digit amounts respectively. Box 19 includes local income tax which is a 3 digit number. I’m confused about the title field that states “if any state disability insurance was withheld from your wages and is shown in box 19 of this w-2, enter the amount. Box 19 does not…
when i filed my taxes i chose direct debit to pay what i owed, and set the date for april 15, which happens to be the deadline (but it's also the day i get paid which is why i chose that date). it says that it may take up to 5 days for the irs to take the money, and i've seen some people say it takes a week or two. just…
I'm NRA with W8-BEN, have to fill 1040-NR related to stock market PTP gains. Received K-1 from PTP issuer and four 1042-S from stock broker. I have to fill Schedule OI - Item L (table with "Income Exempt From Tax"). I am trying to use my 1042-S data there, Income Codes (box1) are: 01, 01, 06, 37, Exemption Codes (box 3a)…
I received a CCC-1099-G from the USDA FSA for CRP Annual Rental payments (not really rental). From what I read online, it appears I need to enter the details on the Schedule F. I am not self-employed and don't have a farm business. I selected cash accrual even though we don't have book records. I got to the page where it…
For context: I am an independant contractor hairstylist and I got a 1099-k form in the mail from my point of sale system, but was told to file all the income under Schedule C as Business income. All my card transactions, including tips, are all added together as a gross amount on my 1099-k form. I keep record of all my…
Hello, Does FreeTaxUSA capable of handling 1031 exchange of like-properties for 2025? If not, any scope of adding this feature at least for 2026 or within the next couple of years? Thanks, Dinofan
FreeTax USA online program allowed my 24 year old (born 9/7/2001) son at the end of 12/31/2025 to be claimed as a dependent on another individuals tax return even though he had over $5,200 in income and is not permanently or totally disabled. I thought 24 & over, greater than $5,200 income and not disabled an individual…
It said the my refund was sent to my bank but I called my bank and they said that they didn't get it
What do I do with this question on my tax form - You entered income shown on 1099 NEC, Box 1, but you haven't told us if it's from tips or overtime compensation. Please go back to the Your 1099-NEC or 1099-MISC Income screen and review if any of the Other Income is from tips or overtime for the following:**** My income is…
Hi. If I entered my IRS PIN here, but now want a CPA to file for me, so how do I proceed with my CPA? Can the IRS PIN be used by him, or how to fix it so he can file for me? Thank you. (I have not "submitted" my tax return yet electronically from FREETAXUSA because I have to file a paper return due to having a Form 1116…
When I download my Oregon state return, I'm seeing some issues. A. On Schedule OR-A, lines 2-4 are empty and not populated B. On line 9, the number is not the sum of lines 5 through 8. Instead, it is 10,000 which I believe is the limit for tax year 2024. How can this be resolved?
My husband moved out 8-25. We live in MA, so not a community property state. We are Married Filing Separately. The State section asks for his Total Federal Income, Federal Adjusted Gross Income, & # dependents. He refuses to give me that info. The software will let me leave those fields blank, but I don't know if that is a…
Hello. My W2 lists an incorrect state (where I neither live nor have worked)… While my employer sorts this mess out, is it possible that I file my federal return first? And once I have corrected info, I can then file my state return using the same freetaxusa account?
What documentation, if any, will the IRS likely require now if a single Form 8606 was filed in 1989 for TY1988 documenting traditional IRA (tIRA) basis (non-deductible contribution); no additional 8606’s were ever filed; but distributions began for TY2024 without a TY2024 8606 form filed? Have been assisting my parents…
Hi everyone, seeking for tax advice. I recently received two W-2s (one for CA and one for NY), but in reality I should only receive a NY W-2. The CA represents one of the months only, the rest of the months in the year are part of my NY W-2. My employer made a mistake thinking I still had my address in CA, but I was…
NIIT Net Investment Income Tax link is missing from Fed Return Misc dropdown Any changes made to Net Investment Income Tax don't get applied Net Investment Income Tax (NIIT Form 8962) screen is missing from the Misc dropdown and does not show up during the Misc steps. The only way I can access this screen is from a yellow…
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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