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 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.
When filing my federal and state returns on 4/13 and choosing direct debit from savings to pay what was owed, neither before nor after receiving the standard 'Congratulations', was any information of any kind provided by FreeTaxUSA, that some banks do not allow direct debit from a savings account. Consequently I was not…
verifying my free tax submission they asked me if I paid to have my taxes dies free tax count as " paying someone"
Hi Tax Experts, I’m looking for clarification on how to handle the Amazon Vine program for my tax return. Participants receive products in exchange for reviews, and I’ve received a 1099 form for the fair market value of the items. The confusion lies in how to classify this activity: Is it considered a hobby or something…
Hi FreeTaxUSA Team and Community, I'm writing to report a potential issue with how FreeTaxUSA calculates the underpayment of estimated tax penalty (Form 2210). I encountered this after filing my 2024 return, where FreeTaxUSA calculated a penalty amount which I paid. However, I subsequently received a CP30 notice from the…
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