Hello Community, Occasionally in tax support, we see a trend in the types of questions we get. This year we are seeing more questions about the Underpayment Pentalty than normal. The IRS has said they are seeing an increase in taxpayers who are subject to the Underpayment Penalty. So, it isn't a surprise we are seeing more…
I had interest for a US gov't obligation that wasn't US Treasury related. It was included in Box 1 of my 1099-INT. This interest is state tax deductible, but there was no way on either the 1099-INT input screen or the state tax adjustments screen to designate it as so. Note that the 1099-DIV input screen DOES have a…
Also, if I have the exact income details from the IRS transcript, is the 1099 tax ID still required? new sugguest.
When doing my federal return at freetaxusa.com, one question is simply "Enter the total amount of sales tax you paid during 2023" and I don't know what to put here. Everything I read says to use the IRS Sales Tax Deduction Calculator. The calculator asks if I bought a house in 2023. We did, so when I select house, it says…
I did a test and comparison of my 2024 tax return using FTU , H&R Block and TurboTax (Desktop versions only). Numbers matched which was good. Could not do State since you have efile Fed and pay for State. I filled with TT before I knew about FTU. I may have to do another comparison after I efile with FTU just to make sure…
I was a CT resident for first half of 2024 and a Maine resident for second half of 2024. While in CT, working in CT, I did a conversion for a work 403b to a roth 403b in the amount of X. I also contributed to a roth IRA by mistake, had to transfer it to a regular IRA, then backdoor it into the roth, with it growing by…
Hello, I am wondering if it makes more sense to file separately vs jointly between my wife and I? I've reviewed the tax brackets but we're having trouble deciding. Here's our situation: We're both in our mid-30's, and married the entire year My wife makes $35k/year, while I make $85k/year We own a home together We have no…
I'm confused about how to enter the Box 14 amounts from my W-2. First, the program asks me to enter the description and amounts (e.g., NJ SDI, NJ SUI EE, NJ FLI), so I enter all three with their respective amounts.Then, on the next screen, it asks again for the same things:"If any State Disability Insurance (SDI) was…
I think I get a 1099 for the EEOC judgement but it is not taxable. How to fill my tax return? My legal fees were refunded. These were previously taxed. Do I include on the tax return somewhere or ignore?
I rent out a parking spot using SpotHero. They provided me a 1099-K, but part of the money that went into box 1a (i.e., Gross Amount of payment) is taxes that were paid to the city or state, and some of the money is fees that SpotHero collects. So I take home a little more than half of what is reported in the 1099-K. How…
Taxes done by your company on April 15 . Never recieved copy and IRS says it hasn't been filed? Paid for copy also no copy yet. April 15 ,now is June 9 where is it.
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