My daughter is a dual U.S. / E.U. citizen and goes to college in Colorado. This past summer, she had an internship in Europe for two months, where she made 4,700€ (about $5,100). However, because worked as an E.U. citizen, she was paid and taxed as such. The bank never filed any paperwork with the IRS, because they didn't…
Before filing my 2023 taxes in March 2024, I did two backdoor roths. One for 2023 for 6500, and one for 7000 for 2024. I did this because I was just starting doing Roths and I saw that I had until April to make the 2023 contribution. I followed a guide and thought I did it right. However now FreeTaxUSA is saying "Excess…
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…
For reference, the total allocated amount was $2,700. The instructions are “The parties agree that 50% of individual settlement amounts are for alleged unpaid wages, and subject to payroll taxes to be reported on an IRS W-2 and 50% shall be allocated as penalties and interest and will be reported on IRS Form 1099.…
I am entering an asset cost for depreciation for a rental property, but a different number is showing up and being used in the Depreciation Schedule. I only have the one asset. Is anyone else seeing this issue?
I am trying to enter information from the sale of units in a partnership. According to https://www.freetaxusa.com/forms-federal you support “Partnership or S corporation income (Schedule K-1)” form 1065 and you also support federal forms 4797, and 8949. On the same page at the bottom under "Items not Supported", I don’t…
Hello,please i really need help and clarity, if All of my wages in 2024 were cash payments and no W2 or 1099, can you help my file for my tax return? I have 1 dependent child, In college and solely my dependent for expenses of stationary books etc.I have those receipts from his college. But I have no proof of my wages…
Hi! I received a 1098-T in which the scholarships (box 5) exceed the qualified tuition expenses (box 1). Is the difference between box 5 and 1 considered taxable scholarships? If so, do I report it on my return as taxable scholarships or would my mom report it? I am a dependent on my mom's return. Thanks!
I'm entering my S-corp income from my Schedule K-1. The form on the freetaxusa website only has fields for boxes 1-17. But distributions are found in box 19. Where do I enter this income?
Hello, Let's say I have 2 properties, A and B, both under property management. Rental income from A is $600, and from B $400. I receive a 1099-MISC from my property manager for the total rental income of $1000. No problem entering that. The program then asks, "Link this income to a rental?". Yes, I would like to do that so…
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