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…
Hi. On one of my 1099-R forms, it encompasses three distinct events: two distributions from a regular 403b to a rollover IRA ($17K and $224K), and one distribution ($150K) from the regular 403b to a Roth IRA. The last question on the pages asks: "Did you roll over this distribution to a Roth IRA?" It does not let me…
Hello, I was looking for advice regarding my current tax situation described in the example below: I worked at company X (private and not publicly traded) and received ISO stock options. I exercised 10 stock options at value $1 per stock. The FMV at the time of my exercise is $5. I sold 5 stocks within two months (held…
I cashed in an annuity that was paying very low interest. They may have sent a 1099, but I am not able to find it at the moment. Do I need it? I know the amount —- I suspect I can just enter it on the spreadsheet, if I knew WHERE. Any suggestions?? Thanks, in advance.
Hi Tax Experts, I'm a New Jersey resident working in New York City, and I'm using FreeTaxUSA for the first time to file my tax returns. I've encountered an issue that I hope someone can help clarify: Current Situation: Resident of New Jersey Employed in New York City Using FreeTaxUSA for tax filing Problem: The final…
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