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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've used TurboTax for 22 years But I've experienced some failures this year. I'm trying out FREETAXUSA What would be a good way to keep their returns secure and separate? I'm thinking of creating user IDs and passwords for them.
Hi. I've read that FreeTaxUSA does not allow choosing sections to work on before their section order is followed. I understand this, but I'm a retired CPA and would like to work on deductions because I won't have all of my income info before the end of this month. I do have about 85% of my deduction info now. I have…
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…
My husband had to repay a retention bonus (about $7500) in 2025 that was paid in 2024. We are in a higher tax bracket in 2025 so I would like to deduct the repayment rather than request a credit. I can't figure out how to do that. There is only an option for a "Claim of Right Repayment Credit." Do I enter it under…
I would like to fill out an IRS Form 4547 for a new dependent born in 2026 who is eligible for the pilot program contribution (part III - pilot program contribution election). Because I cannot add this dependent for the 2025 tax year, my only option is to file and e-file Form 4547 with my 2025 tax return. How do I do this?
I'm confused about whether I can take a tax credit as I moved during 2025. I lived in WV until May 30th and then in MD the rest of 2025. On my W2 it appears WV taxed my entire yearly income as box 1 wages match box 16 under WV state wages. Box 16 under MD is for part of my total income and seems correct. My payslips show…
I am currently not qualified for a free account, but I will be eligible for one when I retire. I’m wondering if it’s possible to switch my existing Standard Account to a Free Account using the same email address, or if I would need to create a completely separate Free Account. It would be helpful if the system allowed…
I filled my Uber 1099nec and 1099k. Under the 1099k, it had the option to report qualified tips. Just wondering how to do that with DoorDash now.
My employer, based in CO, uses Mutual of Omaha to facilitate our FAMLI benefits instead of the state-administered plan. MoO sent me a 1099-Misc instead of a 1099-G that the state would send for FAMLI benefits paid out. So, I entered the income in the federal return appropriately as a 1099-MISC. However, when I get to the…
At my current job, I paid taxes for Alabama despite living in TN after a role change within the company. I'm lost on what I'm supposed to do, as I'm getting conflicting info across the board. I'm told that I need/don't need a corrected W-2, that I need to file a nonresident return. Just curious on next steps, and wanna see…
This discussion was created from comments split from: Michigan taxes.
Per IRS instructions (https://www.irs.gov/forms-pubs/about-form-4852), when an employer doesn't send a W2, it sounds like you're supposed to file form 4852 as a substitute. This form is listed on FreeTaxUSA as a form they will file (https://www.freetaxusa.com/forms/). However, I can't find where I would add this in the…
My business would be described as Online resale of collectible trading cards and toys. I was wanting to use business code 454390 or 453998 , but I am only seeing 459120 and am wondering if I should use 459120 as the business code. I Primarily sale pokemon/sports cards and funko pops online.
I started my taxes in January. Now it is Feb 1 and I have been logging in a few times a day to the regular freetaxusa.com site. Now, I learn that I won't have the necessary tax documents until March. Question: Will all of my data remain on freetaxusa.com or does it need to be downloaded in the meantime? How long are tax…
Box 19 of my W-2 is labelled "Local income tax." Box 20 is labelled "Locality name" and contains "CA-SDI." On separate pages, FreeTaxUSA asks me to enter: + Box 19 - Local Income Tax: + If any State Disability Insurance (SDI) was withheld from your wages and is shown in Box 19 of this W-2, enter the amount: Based on the…
Hello, In 2025, I rolled over my traditional 401k to my Roth IRA. I just received my 1099-R, and the taxable amount on there is 0, box 2b is empty, and box 7 is marked with G. This is likely because the originating institution could not know whether I would rollover the money into a trad or Roth account, which makes sense.…
Hello! In tax year 2024, I qualified for and received the Maryland Quality Teacher Incentive Credit. In Spring 2025, I continued taking masters-level classes towards certification, but ended up leaving that school district in June 2025. The entire time taking the classes, I qualified for the Credit, but at the time of…
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…
Is there any reason I should create a LLC for my freelancing? Is there a certain amount of money I should be making annually before this makes sense? I know a lot of people create an LLC when starting a small business, but I don't fully understand why.
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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