Find answers to your tax questions, connect with a helpful community, and get the support you need to resolve tax issues quickly and confidently.
I have gone through the entering of my K-1 (I sold the company last year) and after entering the information Freetax gives me this screen which confuses the heck out of me. I try to post the screen but it keeps coming up "Permission problem" The two messages are You have a capital gain you need to report on your tax return…
Our son(19yo in college, dependent), has total income of about $6000, which includes some W-2(~$2500) and some miscellaneous/other income(~$1800), and div/CG(~$2000) from a mutual fund. As a dependent, his standard deduction should be calculated as his earned income plus $450(so about $4350). But FreeTaxUSA is not adding…
I understand that the total amount of my W-2GS is entered as business income on schedule c, but where are the individual W-2GS I received reported/itemized on the return ? I have about 100 of them and if I enter them under 'other income', my AGI goes thru the roof and I can't take the standard deduction. So where are the…
When I go to Extensions and Other Tax Payments - Federal Income Tax Withheld it is grayed out and unable to change. Then I was told to "enter your W-2G forms under the standard gambling section, but zero out the income portion so it doesn't duplicate your Schedule C gross receipts" but doing this gives me an error that the…
Hello, I am a registered nurse working as an aesthetic nurse in a med spa. I do not work in a hospital or traditional clinic. My role involves performing injectables (Botox and fillers), IV therapy, and IM vitamin injections under my RN license. Because of the nature of the industry, I regularly receive tips from clients,…
Hello, I included my Social Security benefits in my original tax return. The program told me that I didn't owe taxes on them; however, the IRS has directed me to their tax brackets and communicated that I'd owe anything above the tax bracket. The amount received is $13, 620. The bracket says I owe 12% on income that exists…
I have a single K-1 form with multiple rental properties and Passthrough entities listed in the SECTION 199A INFORMATION, BOX 20, CODE Z, like below: Rent - Property 1 address RENTAL INCOME (LOSS) -****. UNADJUSTED BASIS OF ASSETS xxxx. Rent - Property 2 address RENTAL INCOME (LOSS) -****. UNADJUSTED BASIS OF ASSETS xxxx.…
For the entire year of 2024, my e-commerce business did not have any income or expenses. I had to step away from my online business for personal health reasons. With that being said, I have entered $0 income and $0 expenses on my Schedule C for 2024. When I get to the final page before I submit. Free Tax USA gives me an…
I have a loan through a co-op for a piece of land that is NOT part of a business is NOT for-profit. Generally, it's just some land. My co-op sends me a 1099-PATR showing patronage dividends. I entered this in FTU as Business Income on Schedule C, as the FAQ suggested, however, the system then generates self-employment…
As for Qualifying Dispositioned ESPP, my company does not include the discounted price in the W2. How can I add it as a compensation income in FreeTax USA?
It looks like you're new here. Sign in or register to get started.