Find answers to your tax questions, connect with a helpful community, and get the support you need to resolve tax issues quickly and confidently.
If you have been trying to get your business off the ground, and you had your LLC for 4 years, but always in the negative, can you still report gains and losses and get a deduction. my tax lady says after 3 years it not good to have a llc in the losses, the IRS will consider it a hobby. is it hard to open and close a llc?
If I close my Maryland LLC midyear, will that close my bank accounts and accounts associated to LLC? Or do I need to close them all separately.
Hi, I’m needing some guidance. I took out a 401k loan from my job about two months ago. My situation is changing at work, and I may need to quit. If I cash out the rest of my 401k, what happens to the loan? Would I be hit with the penalties and early withdrawal on the loan amount, in addition to the penalties and early…
I work completely remote for 5 years now. My job is based in California, but I have been living on the east coast for my first year at my job. So I had always had my east coast address, but 6 months into last year, I moved to California not knowing if I will stay or not. It has been 6 months into this year, and I think I…
1st. I have over 600 people processed on your site and the lights went out and now. I can't access the website it just spins on chrome, edge and Firefox. can you please help me i need to finish b4 16th for lawyers...please advise…
Hi I have already submitted this as a feature request. I've been using FreeTax for several years, and I've been very happy with the platform and support. It would be great if we could file as expats, using a foreign address and have any related forms added to the platform (FEIE) (FTC). Even if a small, reasonable fee is…
My mother passed away in March and did not file her 2025 return. I was just named voluntary administrator of her estate this month and I want to get that taken care of as soon as possible. Do I file it as normal and sign it with my name with administrator next to it? Also, when ask has a person passed away before filing…
Good afternoon, I cannot find how to report non-dependent qualifying child on my return. it states that i can file as Head of Household (HOH) filing status due to the fact that I have a child who is a qualifying person but not my dependent. I am not to list my child as a a dependent. On the 1040 there is a specific line to…
We're considering building an ADU on our (one-and-only) property for my in-laws to move in to. If they help pay for the ADU construction or make payments on the HELOC or help us with housing expenses once they move in, do we have to report any of their financial assistance as income? It's not exactly rent, they'd just be…
I'm filling out Rental Income (Schedule E) as I had a rental property for the first 2 months of 2025. For those 2 months, I collected 0 income based upon a mediation agreement but incurred expenses. Once the property became vacant, it became my primary residence. When I filled out the rental income portion and answered…
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