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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…
Hello! I was about to submit my tax returns and saw this warning: You entered $0 as the amount of state income tax paid in 2025 that is allocable to net investment income, which is different from the $139 we calculated. To change the amount you entered, go back to the Net Investment Income Tax Information (Form 8960)…
hi, I have a W-2 job in my primary residence state, which is Virginia. I also have a 1099 NEC income two different states (Maryland and Colorado) where I physically went to and worked in each state. Both NEC incomes are then required to be linked to a business income when I file my taxes. My business income is listed as in…
For Form 8960 (Net Investment Income Tax), Line 9b allows a deduction for taxes properly allocable to net investment income. According to IRS Reg. §1.1411-4(f)(3) and the Form 8960 instructions, the deduction base is not subject to the $10,000 SALT cap used on Schedule A. Instead, the IRS allows the full amount of…
I installed hurricane‑rated windows and exterior doors. They are not Energy Star and the manufacturer won’t provide a QMID. The vendor told me to put the cost on Form 5695 Line 3. Is that correct, and what is the IRS‑safe way to handle this?”
Can FreeTax import a fairly complex prior year return, if so, how accurate is it? Also, my return was done by a tax preparer and includes a lot of worksheets that are not included when filing from what I understand, should those be removed before uploading?
I'm seeing this question - "Enter the value of all of your health savings accounts as of December 31, 2025, including 2025 contributions made during 2026". I don't have access to the 5498 SA until May so I can't use this. Am I supposed to report the FMV of only the contributions made for 2025? Or the total value on Dec 31…
This is my first year using Free Tax USA and I had a question about how to enter my charitable donations. In the past I've used TurboTax and been able to enter multiple items into one donation. Is there a way to do that with Free Tax USA or do I have to enter each item individually? Also I definitely don't have any of the…
Just realize this year while getting ready to file that I couldn't contribute to my Roth IRA on 2025. I have had the excess ang gains returned. How can a declare my gains this year since I haven't file my taxes? Is there a way to do this to avoid any amendement. Fidelity will send a tax form until next year. Thank you.
This year I got two reference copies of my W-2 from my workplace. One is an employee reference copy, the other is the city/local reference copy. All of the information on both copies pf my W-2 is the same, except for two things, specifically box 12a and 12b: the numbers under code C and code D differ between the Employee…
My MAGI should be negative, but the software is showing it as a positive number. That incorrect calculation is causing the ACA Premium Tax Credit to be computed wrong and is making it look like I owe money back. Could you help me fix this?
hola una pregunta cómo puedo verificar mi Efin , ya que es nuevo .
I got a 1099 NEC, freetaxusa is asking for my vehicle that I won "Date placed in service. Enter the date you purchased the vehicle unless you owned the vehicle before you started the business. For example, if you started your business on July 7, 2024 and started using your personal vehicle for business on August 10, 2024,…
Hello. I received a 1099-NEC form for “difficulty of care” payment. How to enter this non taxable item?
Legally, I am still married. I have no taxable income, only non-taxable spousal support. I understand I may not be required to file, but would it be advisable to file a zero-income return in my situation?
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 sold my home in Maryland on Jan 10, 2025 and moved to DE that day. I had no income in MD other than the sale. I lived in house for 39 years. I got divorced in 1997. I am single. Do I have to file taxes?
If my City of Detroit wage allocation is less than 100% on Form 5121, am I required to attach the employer verification letter and work log to my e-filed return? If so, how should these files be attached? If not, should I simply retain them for my records in case they are requested later?
I recieved my 1042S last year after I had filed my taxes. I thought I would be able to add in this year but seems have to ammend the last years 1040 NR. Can freetax help with non residents in filing?
Hi, I am a U.S. citizen, and I got married in October 2025. My spouse is currently in the U.S. on an F-1 student visa and has been here for about two years. She has a valid SSN and only U.S.-source income. From my understanding, since I am a U.S. citizen, we can elect to treat her as a U.S. resident for tax purposes under…
Hi, I am filing 540NR California state tax as married filing jointly. I am the primary taxpayer (CA non-resident) but spouse is (CA resident). However, the software won’t let me choose residency status of wife as CA resident when I fill the form 540NR as California is not in the dropdown list. Software assumes both me and…
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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