Does FreeTaxUSA handle the case where a rental property is also used for personal purposes? It is my understanding that income and losses from a rental unit that is also used for personal purposes more than 14 days aren't passive. Is this correct and does FreeTax handle it? I don't see a way to indicate that the rental is…
I had a 25-year investment plan where i paid monthly premiums total amounting to $50k year to date, of that i withdrew $15k two years after commencing the premium payment which was the allowed withdrawable limit under the plan. The plan basically invested in 5 mutual funds and was managed by an investment management firm.…
I am new to FreeTaxUSA and file as married jointly. The first w-2 from my husband importantly smoothly, but the 2nd w-2 (mine) has the wrong state information in box 15-17: Box 15: took on the same state from my husband's previous W-2 Box 16-17, took info. from my w-2 box 1-2 So do double check after each import!…
I received 1099-misc not w2 or 1099G. When I tried to enter the income I get error message asking what type of income (farming, rent etc) how do I proceed?
My son's 1098-T has a box 5 scholarship amount that is $105 greater than the box 1 amount paid. No other educational expenses are claimed. I expected to see that $105 added to taxable income via Schedule 1 but it didn't happen. Is that correct?
Hi, I have a similar problem as a recent user. I was paid $460 as a poll worker in 2024, but they (legally) didn't withhold any tax at all, and because it's under $600, I didn't receive a W-2. However, I completed a W-4, and the election board confirmed the above information, so I know these payments are considered wages.…
I received a 1099-G from the state of Ohio, and have received a 1099-G. This is a Adoption grant. On the 1099-G the income appears in Box 6 "Taxable Grants". All other boxes are zero. How do I report this in TaxFreeUSA? It's not an educational grant, it's not unemployment, and not a taxable state refund.
I have the 8949 form, but there's more than 1 page with more than 1 total on line 2, Column d. On the form 8949, there's a total of 25 pages. Do I need to add all the totals together and enter into the Sales Proceeds? There's only one Sales Proceeds and Cost Basis and I wasn't sure how I enter the numbers into the…
Hello, My first experience with a financial advisor. In 2021, I invested $100K in a 'conservative' portfolio fixed income, bonds, etc. There were 2 accounts funded with $50K each, Dorsey Wright Tactical Fixed Income and Clark Navigator Personalized UMA. I held these accounts until I closed them in July/2024 resulting in a…
Hi. On form 1099-R, Box 15, it asks for "State/Payer's state no." What State should go there? The "Payer" is TIAA, which is located in NC. My job was in NY. (I will file as a non-resident.) My residence is in FL. The 1099R was completed by TIAA and they put "FL" in Box 15. Is that a mistake? BTW: Box 16 "State…
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