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Re: i am a forex day trader,how would i show losses and winnings on your tax platform
Hello, From what it sounds like, you are asking about a different kind of trading. Options traders would either report their gains and losses on Form 8949 and Schedule D, or if they file a timely mar…1 · -
Re: VA Disability
I want to let you know that the VA pension & VA Korean pension are both Veteran Admin pensions. They are not from Virginia state. So, what I see is that none of these are taxable. Is that correct?1 · -
Re: Converting Rental Property back to Personal Property Use
@brycat5 When you sell your home in the future, you will report the deprecation recapture since the home was partially used as a rental and was then converted to 100% personal use. Since the home is …1 · -
Re: I won $1800 at the Casino and now want to get win/loss statements from other casinos.
In most cases the winnings will reported on the state returns but it depends on the state. The IRS Covers gambling winnings and losses on the following page https://www.irs.gov/taxtopics/tc419 . You …1 · -
Re: Accrued Interest reporting
asaadsaad, That is a great question! You are correct that the accrued interest you paid generally won't be reported on Form 1099-INT. Instead, you'll enter this yourself when reporting your Form 1099…1 · -
Re: Accrued Interest reporting
Hi Asaadsaad, If you buy a bond in between the interest dates, the accrued interest from before you buy the bond will be included in your 1099-INT as taxable income. You can deduct the accrued intere…1 · -
Re: Separate businesses for different types of work (self employed)?
Hi robertaudet, If you are a sole proprietor, you will typically need to file a separate Schedule C for each business that you operate. In other words, if you do two distinct types of self-employment…1 · -
Re: Are IRAs fully taxable in Alabama if coming from Pennsylvania, where they are not taxable?
Distributions from your mom's retirement will be taxed per AL state tax rates without considering any basis, earnings or previous state residence. The only consideration might be how much is taxable …1 · -
Re: Filing crypto earning with my taxes
Hello! Thank you for attending our live event! You can use FreeTaxUSA to file your crypto earnings. Here is a link to a basic article from our community to get your started:…1 · -
Re: What do I need to do differently this tax season?
Hi Sb6849, FreeTaxUSA supports the entry of Rental Income on your personal income tax return. The process is fairly straightforward, and if you have questions as you go, you are welcome to contact Su…1 ·
