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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…
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…
Hello, I accidentally put the wrong bank account information for my state tax return, and the state tax has already been submitted and accepted. What do I need you to do to fix this? Is there a phone number i can talk to, or an email where I can ready out to for this issue?
Fidelity has already processed a "Return of Excess" in February 2026, returning my amount plus $115.85 in earnings. Since the correction happened in 2026, I won't get a 1099-R until next year. I know I need to report the $115.85 on my 2025 return and pay the 10% penalty. I have two issues in the software: I previously…
I used FTUSA for first time this year (love it!). One thing I noticed was that it didn't generate four(4) 1040-ES vouchers for the upcoming year based on this year's return. (which I've often seen on other tax platforms) I don't care so much about the actual vouchers themselves - but rather the amount(s) calculated on…
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…
Hi, I have a rental property and need to issue 1099 for contractors. I am a sole-proprietor and use an EIN to issue 1099s. I don't see a way to enter the EIN while filling out the Schedule E for my rental property. I understand that as I am a sole-prop, this EIN is a disregarded entity. I use the EIN also for my bank…
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…
She has lived with me since 9/2024 and has been unable to work since then. she receives a small monthly SNAP allowance.
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?
I live in NYC and am entering my W2. The software asks, "Do you have any State Disability Insurance (SDI) or Family Leave Insurance (FLI) shown in Box 14 or Box 19 of this W2?" Box 14 is blank and Box 19 has a number but is simply labeled "Local income tax." How do I know if the local income tax includes SDI or FLI? Should…
For the question "Choose the foreign country where you had x in foreign taxes paid", the closest I see are Various and Other Country. I don't see RIC. What do I do?
i’ve heard it’s a new 2026 code but it’ll automatically put in either T or P.
Hi! I filed my taxes at the end of March and they were approved. However, I just found out that my university also sent me a 1042-S document. I am a resident alien. Can I amend my return using FreeTaxUSA and add this document? Thank you!
I am over 59-1/2 years old and have had the Roth account for over 20 years but "taxable amount not determined" is checked, "distribution code" is T. Fidelity said "they must remain neutral; cannot say if it is qualified or normal" even though they acknowledge no taxes are due. It looks like I owe over $24,000 in FreeTaxUSA…
When I go to enter my 529 contributions it requires an account number but the software is telling me the account number begins with the wrong digits and won’t accept it, and I can’t continue or get the credit for my contributions without it.
has anyone efiled an amended return and how long did it take to process your return?
I see my refund has a green dot account and i’ve never in my life have had an account with them. I’m not sure why this information has changed but how am I supposed to receive my refund? I also click show bank account information and it shows green dot card which I never manually out into my information. I have used free…
She's doing her taxes. According to Oregon state form, she owes Oregon $925. With the CA state, non-resident form, she gets back $457. We have read that she can get credit for the $925 for Oregon tax liability, but have no idea where to claim this. She's so frustrated she's willing to just pay — but I think there's more to…
Let's say that I have an LLC called Company A where I fully control. Company A is a partner of Company B, where A controls ~20% of B. B earns 3000 USD during the tax year.
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 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?
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…
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…
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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