I have been going through all the literature and I need clarification on whether or not I'm reporting the taxes I paid on my Roth IRA conversion to the IRS. Here's my situation: I converted some pre-taxed dollars from my employer-sponsored 401K plan to my Roth IRA. The IRS classifies a conversion from a 401K to a Roth IRA…
My husband contributed of $7000 to his Roth IRA 2024 in 2/22/24 but our income was over the limit. So he sold and withdrew $11k of his contribution and earning on 3/21/25. When I file tax, freetaxusa website said I need to fix the withdraw amount (it can not be over the contribution of $7000). How can I file tax in this…
In 2024, i had one after tax contribution which didnt have automatic in plan conversion. So i transferred that directly to my Roth IRA After i enabled in plan converstion, i rolled them over to Roth IRA a few times. Now i have received 1099-R G and 1099-R H forms When i fill it in freetax usa it asks me if the 1099-R G…
In 2024, my wife took a once-in-a-lifetime IRA to HSA rollover. The money was transferred directly from a traditional IRA at one custodial company to an HSA at another custodial company. The 1099R for this rollover shows: The Distribution Amount, Taxable Amount not Determined is checked, Distribution Code 7 (normal…
After entering an RMD on an IRA Turbo Tax has an entry for " the required minimal distribution by Dec. 31, 2024. " I took the full distribution amount. Is that the number to be entered ? Also they ask the same question for my pension. Do you enter the amount of the pension for the year or 0.00 since the pension is not an…
Does FreeTaxUSA software include "Medicaid Waiver Payments is Excludable From Income"?
In my tax return, have to take RMD from inherited IRA and Roth IRA. I accidently under withdraw last year resulting in an excess accmulation, which I then made up in 2025 within the correction window. On the software, I enter the following screens: The form generated shows: So how are 52a, 52b, 53a, and 53b generate?…
I had an RMD for 2024 of about $4500, but I took the distribution (my 1st) in Feb of 2025. However, Fidelity did not offer (online) for a way to attribute the distribution to the year 2024, so now, when I called Fidelity asking how I show in my 2024 tax return that I took my 1st RMD in 2025, they said they wouldn't…
Has the IRS been changing tax rates for normal retirees? My income is fixed and changes only by cost-of-living adjustments. However, each of the last 4 Federal filing years have had much smaller refunds. We are talking $100s less each year until almost nothing this year. The State tax refund has remained constant. The…
This year I both contributed a non-deductible amount into my traditional IRA ($7,000) and also converted an existing deductible amount of my traditional IRA to a Roth IRA ($15,000) so I will need to pay taxes on the amount of $15,000. I'm not sure where to find a box to indicate that the $15,000 is the existing traditional…
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