Hi, I have a question about how to correctly report a Roth IRA excess contribution and the related 1099-R. For tax year 2024, my earned income was $1,476, but I contributed $7,000 to a Roth IRA. After realizing the excess, I removed the excess contribution ($5,600) plus earnings ($931) on 02/27/2025 (before the tax filing…
I would like to fill out an IRS Form 4547 for a new dependent born in 2026 who is eligible for the pilot program contribution (part III - pilot program contribution election). Because I cannot add this dependent for the 2025 tax year, my only option is to file and e-file Form 4547 with my 2025 tax return. How do I do this?
When filling out my W-2 on box 14, in other I enter the description "NY PFL" and enter the amount, no problem. The following page: (image removed) The following page: (image removed) then asks if you have State Disability Insurance (SDI) or Family Leave Insurance (FLI) shown in box 14 or 19. Do I select "No" here? -…
I was given stipends for a total amount of around $1,800 for a program I was in for a few weeks last year since it was Monday-Friday in the daytime so a lot of people couldn’t attend work. No books, lodging, or tuition was necessary in regards to the stipends, it was entirely supplemental. I’m not sure if this is true, but…
Hi FreeTaxUSA Support, I’m preparing Form 8938 and filing jointly with my wife. When I add additional bank account information, I don’t see any field where I can indicate who owns the account. Is this expected, or am I missing a step? Also, should I complete and submit the return first under my name and then file a…
i’ve heard it’s a new 2026 code but it’ll automatically put in either T or P.
I'm NRA with W8-BEN, have to fill 1040-NR related to stock market PTP gains. Received K-1 from PTP issuer and four 1042-S from stock broker. I have to fill Schedule OI - Item L (table with "Income Exempt From Tax"). I am trying to use my 1042-S data there, Income Codes (box1) are: 01, 01, 06, 37, Exemption Codes (box 3a)…
I’m 19 filing taxes for my first time so any help is appreciated. I live at home with my parents, they provide more than half of my expenses (rent/food) I just pay for anything that’s for my personal use like phone bill, clothes, etc. In my w2 for 2025 I made 22k. In the year of 2025 I wasn’t in any type or school (I…
I have a 1099-B from brokerage, for "Proceeds from Broker & Barter Exchanges Transactions" with only two boxes with any data: Box 8 Profit/(loss) Relaized on Futures Contracts in USD for 2023… $(****) Box 11 Aggregate Profit of (Loss) from lines 8, 9, and 10 …. ($****) Both Box 8 and 11 are the same amount (loss). No other…
Hi, I'm trying to find where to re-access this amount. I sold a rental property and added that through the rental income screens/schedule E. I put the sale price of that property properly, then in a following screen at some point it asked again (for a different reason? not sure why- aren't these the same? is it for capital…
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