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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’m a >2% shareholder in an S-Corp and need to claim the self-employed health insurance deduction (Form 7206). I received a K-1 from the S-Corp. I tried entering the health insurance amount during the K-1 interview when it asked for health insurance premiums, but the deduction doesn’t get placed on any form (for…
I input my overtime with my w2 but it does not get put onto my 1-a form when the document gets generated. I know I qualify but it shows $0 for my below the line deduction. Is free tax USA not calibrated for this new deduction yet?
I bought a stock through robinhood without knowing it is PTP k-1. And, it is Publicly traded partnership (PTP). So, freetaxUSA refuses to file my tax. Questions: i haven't sold the stock yet, but received the schedule k-1. do i need to include it in my current tax? Anyway to get around such as using a different software?…
I am having trouble with a father claiming the child, while the mother used the child for qualifying for EIC. Where do I mark the father qualifies so it allows the CTC, not EIC? The program isn't asking me about form 8332.
I had created a non profit last year and wasn't aware of the 1023 form that needed to be filed to complete the tax exemption process. I also don't want to continue the non profit so I've since dissolved it but I did create an EIN under the name of the organization. So at this point I filed a 990 Postcard form to inform the…
Still have no clue why this happened. I have since received my 2025 refund but not 2024? They have asked for no more info or anything??
Hi, If I use the summary option instead of entering my crypto transactions manually and upload the required forms, do I also need to mail those forms separately? thanks
Is there any way to use columns B and C for other countries on Form 1116? Currently freetaxusa is lumping income from 3 countries into column A. If not, can I manually complete Form 1116 and upload it with my freetaxusa e-filing? Or, could I paper file the whole thing? I don't want to lose all my inputs so far, and this is…
Can I change bank info
Hello - I believe I have found a possible issue/error with FreeTaxUSA 2024. I made a large amount of charitable contributions in 2024 in the form of donated stock - or Capital Gain property. According to the IRS, deductions for Capital Gain property are supposed to be limited to 30% of my AGI, with the rest carried over to…
When I try to log in from your main page, I keep getting a HTTP Status 400 message. Somehow I've managed to log in once or twice to do most of my taxes, but I cannot reliably get in. I'm not even sure how I succeeded those couple of times. Please help.
Good afternoon, I cannot find how to report non-dependent qualifying child on my return. it states that i can file as Head of Household (HOH) filing status due to the fact that I have a child who is a qualifying person but not my dependent. I am not to list my child as a a dependent. On the 1040 there is a specific line to…
I entered all of my tax forms in FreeTaxUSA, every one of them except the Schedule K1, which I finally got recently and the moment I started entering it, as soon as I selected that it is for a publicly traded partnership (PTP), FreeTaxUSA said, we do not support publicly traded partnerships. Bummer! I was able to continue…
I am a student in a non-compensatory role who receives a stipend categorized under a 1099-MISC every year. When I put it into the software, it notes that I have an excess Roth IRA contribution this year due to the 1099-MISC not counting as "earned income". Is that correct? A few sources online I've seen note that since…
Hello there, I e-filed my 2024 federal tax return using FreeTaxUSA but when I am trying to file an amendment, it only shows "Mail your amendment" and reads as: "Once you're done making corrections, skip to Final Steps section to file your return. The IRS no longer accepts e-filed amendments for 2024 returns, so we'll help…
I am a full-year Oregon resident filing Form OR-40. My Federal Form 1040, Line 16 shows a tax liability of $209, but my Oregon Form OR-40, Line 10 (Federal Tax Liability Subtraction) is currently blank/zero. I cannot find the specific screen in the Oregon interview to confirm or manually enter this amount. Please help!
Personal residence purchased in 2009 for $75,000.00 and lived in home until last year 2025. My daughter was single when she purchased the home and lived there single until she moved out. Last year she moved into her boyfriend's home, and they fixed up her house to use as a residential rental property. At the time she…
I did a backdoor conversion through Fidelity $7000 from Traditional to Roth IRA. I received a 1099-R and it shows: Box 1: 7,000 Box 2a: 7,000 Box 7: 2 IRA/SEP/Simple: yes I filled out my 1099-R under the income section and answered all the questions appropriately. I also filled out all my answers approoriately under…
I had 2 jobs but both jobs use Sequoia PEO for payroll services. That means I only get one W2 form AND Sequoia needs to withhold social security tax up to the 10,918 limit for 2025 for BOTH companies. As a result, they have in aggregate withheld a lot of excess social security. FreetaxUSA is not reading this situation…
Just wasn't sure if this is correct, but am I able to claim homestead credit in Michigan if the home is owned by me and my son (both our names are on the deed) and we both live there as our primary home? Both of our incomes combined exceed the THR value, but my income alone does not so it allows me to receive the credit…
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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