I am using Form 4797 for the sale of a primary residence turned rental property that qualifies for Section 121 Exclusion, but that also needs to account for unrecaptured section 1250 gain. The form looks correct, except that it does not fill in Line 1: "Enter the gross proceeds from the sales or exchanges reported to you…
Hi, Community - I see under the "Misc." tab for Federal, under the "Payments" category, you can select "Underpayment Penalty (Form 2210)" to get help calculating any underpayment owed to the Federal Government. That is a great feature and very helpful. My question is—is there a similar feature for calculating any…
Hi, My spouse and I both had jobs in PA at the beginning of the year. However, she took a new job in Georgia in June, and moved there. I stayed in PA for the year and continued to earn income (though I spent about two months with her in the summer working remotely). We're filing jointly for the federal return, but we…
Box 14 on my W2 shows Tier 1 O, Tier 2, and Tier 1 MED - how do i appropriately enter that in the FreeTax screen? I tried entering my typing in but then i got a second screen where it tells me to enter, but theres not option for Tier 1 O, only Tier 1 Tax, Tier 2 Tax….and it says Ive overpaid?
Hello! I did an early withdrawal out of my retirement plan due to unforeseen circumstances. I learned I can claim a $1000 exemption for it due to an emergency. I can't figure out how to mark that when filing my taxes in FreeTax. Where should I input it? Also, we pulled from both mine and my husband's retirement. I am…
Hello, we are a recently married couple. I live in Texas and she is a resident of New York, while also working there. However, after we got married, she stopped working and moved in with me in Texas. Can we still file married jointly? I notice that New York residents require a state tax to file. How will this affect our…
A bit confused by this: FreeTaxUSA supports K-1 but not the form 1041 for estates and trusts. I have a 1041 K-1 for a Charitable Gift Trust. Can I file this with FreeTaxUSA? All of the income is foreign with taxes paid. Box 14 B. The issue that concerns me is that at the bottom of my 1041 K-1, there is a breakdown list of…
I AM UNABLE TO SIGN IN TO MY FREETAXUSA ACCOUNT. THE EMAIL ADDRESS I USED TO CREATE MY ACCOUNT, HAS BEEN DEACTIVATED BY MY EMAIL PROVIDER. AND SINCE I FAILED TO REGISTER A PHONE NUMBER WHEN I ESTABLISHED MY ACCOUNT, I AM UNABLE TO RECEIVE THE CODES THAT NEED TO BE ENTERED TO COMPLETE THE VERIFICATION PROCESS, AND GAIN…
My wife and I are going through a divorce. She was living in a separate household for more than half the year and I could claim the kids as dependents, so I was able to file as Head of Household and file separately. She was refusing to give any tax documents and I didn't realize that I needed to claim her community income…
I resigned my previous employer in middle of the year, and they forfeited my few thousands of 401k contribution made by the employer as per their policy. Thereafter employer bank sent me distribution statement mentioning that money as forfeited money. They did not send any 1099R and not going to send. Where to indicate…
It looks like you're new here. Sign in or register to get started.