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…
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?
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