Hi We discovered an excess HSA contribution while filing our 2024 taxes and would appreciate guidance on reporting it correctly in FreeTaxUSA. Here’s our situation: We have a family HSA contribution limit of $8,300. I contributed $2,175 to my HSA earlier in the year. Later, I moved to my wife’s health plan and she…
Hello, I had health insurance through my employer and then had to leave my job and did not have health insurance for the remainder of the year. When doing taxes it is asking for the minimum premium offered by my employer however I did not have this option while unemployed, my 1095-C form has the code 1A for the four months…
I am filing my Ohio state taxes and noticed a deduction for unreimbursed dental, vision, and health care premiums and expenses. I have an employer sponsored health care plan and they do pay for part of my premiums but it is not pre-taxed. I pay for part of the premiums and have had additional expenses this past year in the…
Hi, I've made contributions to a Roth IRA I opened in 2020 as follows: 2020 $6,000.00 2021 $6,000.00 2022 $6,000.00 2023 $6,000.00 2024 $3,000.00 This totals to $27,000. In 2024, I took a distribution from my Roth IRA in 2024 of $26,750.41. Would my Roth basis be $27,000 or $24,000?
Scenario: W2 Income for Q1 only (retired for example; Dividends, Stock sells, and Roth conversion for Q4. Estimated tax payments are very small for Q1, Q2 and Q3 with 90% of the estimated payments happening in Jan covering Q4. You slightly overpaid in either withholding or estimated taxes and are due a small refund - let's…
I have two 1098s both for my main home (1 mortgage and 1 heloc). When I go to enter the info for amortizing my points over the life of the loan it take me to a “Tell us more about each loan shown below” page and there are 3 spots for bank/lender info .. I don’t have 3 lenders to put in (only 2… one heloc and one mortgage)…
I recently performed a return of excess contribution from my Traditional IRA for 2024. Since this contribution received earnings, I'd like to report this as a 1099-R for my 2024 return (rather than waiting until next January to amend it). Which code should I use in box 7? Anything else I should know about how to enter this…
i unfortunately submitted my joint return without including my child's small investment income on my return. they did have to file last year… can i still push through their individual return or do i have to amend my return to include their ~3.5k in -div and cap gains? I am trying to go through a new return for her but it…
My son has over $1400 in dividends this past year. This is the first year I'm doing taxes myself and am glad I've found FTUSA. Do I need to set up a separate account here in order to file his taxes? Or is there an option to create another "within the family" tax return under just my account? Thank you!
Hi, I uploaded my Fidelity consolidated 1099 into FreeTaxUSA. It mainly had: Dividends from SPAXX (money market fund) and TFLO (Treasury floating rate ETF) Interest from short-term Treasury bills From the forms: Form 1099-DIV: Box 1a shows $1353 in ordinary dividends. All other boxes are zero. Form 1099-INT: Box 3…
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