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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…
My mom retired years ago from being a nurse at a nursing home owned by the local church diocese. She gets a pension from "Roman Catholic Pension Lay Pension Plan" SEI Private Trust Company. I've been under the assumption, this is not a 403(b) plan as she worked at a nursing home, not a church directly and the plan clearly…
I remember had e-sign something but I am not sure it was a pin (last year) can you help?
I live in Wisconsin (full-time resident) whereas my wife lives in Georgia (full-time resident). I had no income in georgia and my wife had no income in wisconsin. Federal taxes looks straightforward but filling state taxes are complicated right now. We are trying not to get double taxed in both states. Georgia is allowing…
I have new pension administrator and they are insisting that a 12/24/24 payment was part of 1099-R for 2025. When investigating I found I actually received 13 payments in 2024 and 11 in 2025 due to them holding late Dec payment until Jan 2 this year. They will not send me a corrected form. I just amended 2024 to show 13…
So I purchased crypto four times [ the same type ] within two months back in 2021. I sold it all in 2025. I reported the dates bought and sold for all four purchases and calculated the units that were sold with the value of each unit on the day it was sold so it gave me the profit of each individual purpose. My issue that…
why can’t I import pics of my 1040 Int to my tax form?
Typically, his taxes have been done by someone but I was hoping your program will make it easier on him if we do it with you. We are his guardians so we sign for him, his check is put into an ABLE account for his future. The information I would give you would be his W-2, his SSA-1099, Form 5498-QA ABLE Account…
I am attempting to file my taxes and I had a mini split system installed in my home as I wanted to be more energy efficient. However the company I went with sells them as a "package" and does not have an itemized break down of what each parts costs... So how do I determine the most expensive part if the company doesn't…
I made a mistake and did not check the box about if someone else can claim you as a dependent, so I need to file an amended return. Any idea when that will be available? Thank you!
EDIT: RESOLVED. Leaving up in case someone else has the same issue. I believe what happened is when uploading it, since the 1099-INT has the state on it, that information is uploaded automatically. But the only way to get to that point when filling out the 1099-INT manually is if you select that there is state withholding,…
IRS website said that my IRS has not been received as those they said it was saying it was fired on a week ago. Although The freetaxusa is ensures my my IRS has been filled. The the IRS sure says it was a few but hasn't told me nothing even told my says im not been fueled according to the IRS .
I need to be able to file only VA state returns online and not Federal. My federal is already filed and approved. I only need to file State returns (electronically) because paper in VA takes twice as long.
Yes, completely agree with adding a next years tax estimate worksheet. It would increase potential customers to your site and be so helpful in figuring out best ways to maximize next years tax deductions, credits etc. As a senior, it would be very helpful in deciding if tax advantageous to "fill out" a tax bracket and/or…
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.
My husband and I live in 2 different states. Do I submit the federal taxes to the IRS first, then go back and do each state return individually? I am not sure the procedure to do this. I live in Maryland and my husband lives in Delaware
This discussion was created from comments split from: How to add more than one bank account for refund?.
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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