Hi. When I was filing my 2023 tax return last year I realized I over contributed in 2022 and 2023. I paid the penalty for my 2022 over contribution in my 2023 return. For the over contribution in 2023 I took out the contribution before April 2023 (so I believe no penalty). I received two 1099-R forms in 2024 for my…
I'm trying to finish my taxes on e-file and I come to the healthcare part I get the Obama health care it's asking me all these questions and I have no idea I don't do anything for healthcare I just have an insurance card I don't understand what to do on that part
I contributed $2,000 to my HSA in 2024, and I just discovered I was covered under Medi-Cal the entire year. As such, I shouldn't have contributed to an HSA, and I am working with my HSA Administrator on a withdrawal of my account balance. I have not filed for 2024 yet. However, my account balance at 12/31/24 (and today)…
I have an airbnb rental. My average rental days is less than 7 days and I actively participated in the business. I read up on airbnb reporting guidance that I should report my rental activities on Schedule E. However, when I use schedule E in FreeTaxUSA, it's default to be passive income. What do I need to do to make it…
My schedule D line 16 was -60000 for 2022 and -5000 for 2023. This should mean I have a full -3000 to carry over for this 2024 (and many years to come), right? But it seems like for 2024 I'm only able to use the -2000 carry over from 2023. Is there something I'm missing?
Because I over contributed a few years ago and was unable to rectify the situation until last year, I seem to be plagued with the **** of the Excess HSA Contribution Penalty. HOWEVER, I've figured out this is because, I cannot affect this specific Box from this Form. The instructions say: "If the contributions to your…
Hi, I have a question about state tax filing for NJ and PA. We live in New Jersey, and my wife works in Pennsylvania — she goes to the PA office about 2 days a week. I know NJ and PA have a reciprocity agreement, so we weren’t sure if we need to file a PA return. But her W-2 shows both NJ and PA taxes withheld. On the…
So this might be a mess to explain, but I need some help figuring out what to file in regard to Roth IRA contributions. I maxed out my 2024 Roth IRA contributions, but then had a misunderstanding and thought I had overcontributed, so I filed a withdrawal of excess contributions and removed $1000 from the account. Turns out…
I had 2 mortgages in 2024 not due to a refinance or sale but rather due to carrying a mortgage for 2 properties. 1 mortgage was a new mortgage for a newly purchased primary home. The other mortgage was for our previous primary home which was eventually sold in 2024. What is the recommended way to calculate the average…
Hi, I need help confirming whether I entered the correct cost basis for RSU and ESPP sales reported on my Fidelity 1099-B. Situation: On my 1099-B from Fidelity, I had two types of stock sales: Section 1: Long-term transactions reported to IRS (Box D checked) Two equities were sold: Equity X: Cost basis in 1099-B matched…
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