The below article was useful. It does talk about how to modify cost basis as the cost is already taxed as W2 Income. But because 1099-B thinks that the stock was purchased and sold immediately it is treated as Short term. How do I modify the 1099B entry and enter the right Purchase date, which is the grant date? Any one…
I'm currently enrolled in an HSA from my employer but its not invested so its not making any interest, its just cash sitting in my account. I do see that's its made only 5 cents in the last 6 months of 2024. When filling out my CA taxes for 2024 I'm at the screen where its asking for any interest, dividends or capital…
I was told that this qualifies for an energy credit (of up to $500?). The roof cost $30K. Where am I able to file this? Form 5695 does not seem to have any clear place to plug this in (nor do I know how to even find this form on FreeTax at this point). Please advise!!
I made $7000 non-deductible contributions to my traditional IRA account for year 2024 and $6500 for year 2023. The 2023 contribution was done in 2023 to Roth IRA but I recharacterized it in 2024. The immediately I converted all of it (both 2024 and recharacterized 2023 contribution) to Roth IRA. Because the conversion were…
Assume I am a 'hobby' seller who sells deces-old old broken computer junk from my basement. From ebay I received a 1099-K saying income was $750.00 (but I would have no 'gain' since I bought my stuff at higher prices 20 years ago). I believe I would enter into FreeTax as income the $750 amount. But how do I zero this out…
I'm wondering which state I should list my residence as. In 2024, finished up at university in MI, and that's where I'm registered to vote, and where my car is registered. However, after university I moved to Montana for seasonal work and ended up spending most of the summer and winter there with intermittent time back in…
Hello. I discovered that I over contributed to my Roth in 2022 because I was over the income limit (though within range for a reduced contribution.) I filled out a form 5229 for 2022 and 2023, which I already mailed in to the IRS and I paid the calculated tax via IRS direct deposit. I realized that I forgot to report the…
i have a deceased parents final irrrev living trust taxes to do this year. ( i am the trustee) can i file form 1041 and 1099-s (real estate sale) with free tax usa
Hey, I'm currently new with FreeTaxUsa. I've driven for Doordash for a year(2024 only) and i need help knowing what to EXPECT to be ask in the process of filing . Pls provide information here. I'm kind of worried cause u have to calculate those miles driven and add deductibles expenses. Does freetaxUsa ask for those…
I received two separate 1098-E forms for my students loans (one for my private and one for my federal) and I can't figure out how to enter them both. For the 1098-E section, all it says is "did you receive a 1098-E" y/n and then asks for the total amount of interest. There is no option to add another form. Thank you
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