Do you need to report gambling winnings if you didn't win over $300 per gambling session and you lost the same amount during each gambling session. example: bought in for $50, gambled for an hour, won $50 for a break even session? Never won over $300 at a time and never got a W-g form.
We bought a new home in October 2022 and sold the old home in February 2023. We used our exemption to avoid capital gains tax for our 2023 taxes. When would we be able to claim exemption on any capital gains tax on real estate again?
My employer included all HSA contributions in box 12 on my W2, including some excess which was removed a day before the end of the tax year (Dec 2024). They later sent a corrected W2 which included the withdrawn HSA excess contribution in box 1 Wages. Should I include the HSA excess from box 1 or box 12 on the W2? If I…
I'm trying to enter the sale of a business property which needs to transfer to form 4797, When i click the form is goes to schedule C income, what are the steps to get me to form 4797?
Hey Folks, Main Question: How to you use FreeTaxUSA for NJ State Tax Filing? Specifically when dealing with LLC income and expenses Context: I'm using FreeTaxUSA to file Federal and State (NJ) taxes I've used many times before The difference this time is that I'm also doing my Single Member LLC taxes Federal taxes have…
I withdrew $20,000 from my 457b plan which is exempt from nys tax but I cannot find where on the tax form that marks it as exempt from nys tax? it shows up in my taxable income.
Hello, When entering information about a rental property there is a question: "Is this rental activity considered a business for tax purposes?" What are the implications of selecting 'Yes' versus 'No'? The property is a 3 family home in which I occupy 1 unit and rent out the other 2 units.
Hello, in 2024 I was a California permanent resident while attending university in Illinois. For the final few months of the year I became a graduate student and received a W-2 for most of my income (which had Illinois and Federal taxes withheld). I also received a Graduate Fellowship totaling a little over 2600 for FY…
Hi, In 2024 when I still lived and worked out of state in January and February, I earned money at a job and they sent me a W-2 form for most or all of what I earned, $6,192.35, also a family member gives me money very frequently to help support me, but maybe part of the time to pay me for chores maybe no more than $4,000…
Where do I enter my business 1099-INT so it is reflecting my Schedule C? I only see 1099-MISC & 1099-NEC for my business and 1099-INT for personal interest. The 1099-INT was reported under my EIN.
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