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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…
This year’s return is rare for me - I have both capital gains and losses. After completing my return I noticed that I wasn’t asked if I had gains or losses last year. Where on my return do I find the page/box to input that information? Thanks and regards, jakefromPA
I was not informed that I did not have a PIN last year, even tho I wrote it on my filing envelope. I spent many hours trying to contact rts.gov only to find out that I did not have a PIN last year. I helped a friend file her taxes and only at the end did they ask for her last years AGI, which she could not find. Instead of…
I filed married joint for 2024. This year I need to file married separately. My husband is listed as primary tax payer. The information for switching taxpayers on the site is confusing. It says to keep husband's name as taxpayer then go through and delete all his information then revert it to my name. But there is no way…
my state refund was sent to someone else what do I do
When I started my boyfriends return, I was given a choice of free filing for state and federal if income was under a certain amount. I can't remember exact amount, but he qualified. I finished and submitted both for free. Ok now my turn the only difference between our returns is mine is $6000 less than his. it wants to…
I receive Old Age Security (OAS) and Quebec Pension Plan (QPP) from Canada. These are GOVERNMENT pensions and I believe they are considered as Social Security according to the treaty between Canada and the USA. I pay tax only in the USA as I am a resident alien of the USA and a non-resident of Canada. I read that OAS and…
Do we report them on form 1040, on line 6a, like US social security benefits, or on line 8 as additional income from schedule 1 line 10? I have dual citizenship and live in the US, and will receive social security from Switzerland and from the USA. Not sure how the Swiss social security will be reported and taxed. Thank…
Hello! Aside from the federal side, overtime is exempt from being taxed in Alabama for the first half of the year (up to June 30th). FTUSA didn't prompt me in any way regarding my Alabama state taxes regarding this. How can I make sure I'm not paying state tax on the overtime I earned in the first half of the year? Thank…
I included my child as a non dependent in my tax return, and I provided that my ex was claiming the child. Under the childcare/dependent care section I claimed $0 for said child. When my ex went to file and claim dependent care on said child his return was denied as our child's SSN was already claimed on my return. Why did…
I filled out the routing# and account#'s on my form and checked off savings account yet the IRS mailed my refund anyhow. I verified that info is on my 1040. So what happenned that they didn't do direct deposit?
We have a just turned 21 full time student that’s been living with us due to a falling out with her family. She works several jobs. She is looking to file her taxes and get her refund, but we know her mom has filed her own taxes claiming her as a dependent. How does she proceed?
I am a NY resident but I am a member of a partnership LLC operating in VA. It had a big loss in 2024. In 2025, the LLC made a small profit but my k1 income in 2025 is still less than 2024 loss carry-forward. Since the LLC had income in 2025 and the VK-1 I received showed a positive number, I assume I need to file a…
The below is what I see on the instructions for filling Form 8889 at the IRS instruction website: If the designated beneficiary is not the account beneficiary's surviving spouse, or there is no designated beneficiary, the account ceases to be an HSA as of the date of death. The beneficiary completes Form 8889 as follows.…
I filed my return and realized that I forgotten to enter my charitable deductions. I thought it didn't matter because I didn't itemize. But then I read (on this site!) about the extra above-the-line charitable contribution deduction for 2025. FTUSA didn't prompt me for that when it analyzed my return. I decided I needed to…
It will be my first time.
Hello, I am filing my taxes for 2025. I made a non-deductible traditional IRA contribution - meaning I was already taxed on that contribution. I am doing a standard deduction. How do I get the software to acknowledge this to create a F8606 form? If the software cannot do it, can I just submit it manually to ensure it's…
Hello, I have three W2 all Difficulty of Care Payments 1-Box 1 zero, Boxes 3,4,5,6 SSWages, Medicare Wages, SS Wages withheld, Medicare Wages withheld. Box 12A Gross 401K withheld, Box 14 FLI,NJUI, WF, SW. No State Taxes deducted. 2-Box 1 $465, Box 2 $9.38, Box 12A code II $5,745.00, Box 16 $465, Box 17 $5.82. 3-Box 1…
Why does the new car loan interest deduction calculation not match all of the articles I have read? I have a car loan that qualifies, but when I enter the information in FreeTaxUSA, it says the deduction is $0. The MAGI is over $100,000, and the filing status is married filing separately. The MAGI is $114,841, and the…
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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