Our 2025 Software has launched. Find it on the homepage - https://www.freetaxusa.com/ You can start entering your information as soon as you'd like.
Is anyone on here using FreeTaxUSA to prepare other people's taxes? I'd be curious to hear your thoughts on how it works for you and your clients. I'm wondering how many returns I can file and if I would have to create a new account for each client? I'm hoping to prepare around 10 returns this year- mostly family, friends,…
I'm having a heck of a time getting a definitive answer on the matter described below. My spendthrift daughter inherited some money from an aunt. I convinced her to buy a 10-year-certain immediate annuity that will pay out monthly for 120 months. The immediate annuity was purchased with after-tax dollars (making it…
I had a scholarship covering my college tuition, how do I report that?
Hello, I have received a letter from the IRS stating that the form 1099 NEC downloaded from the IRS website was incorrect and that they reversed the amounts in the employee compensation box (box 1)and the taxes paid box (box 2). Can you let me know if your forms were correct? It would seem so, else I would have received a…
Microsoft Copilot AI claims the official IRS figure for the 2025 federal standard deduction for single filers is $15,000, not $15,750. It also claims that some tax software and media outlets (FreeTaxUSA, Gemini, ChatGPT) estimated inflation adjustments before the IRS finalized them. Does FreeTaxUSA have a response?
Hello, I am trying to figure out if freetaxusa supports form 8881? In particular, I would like to claim 'Credit for Small Employer Pension Plan Startup Costs'. Thanks!
Hi, everyone. My question is whether an erroneous store refund is taxable income. In two unrelated instances, I returned merchandise that I had purchased, and I received a refund for more than I had paid. The first time, I bought something on sale and when I returned it, the store mistakenly refunded me the full price. The…
Hi, everyone. I have a question about what qualifies as business income. During the tax year in question, I translated written materials for a nonprofit organization approximately a dozen times. For one of my assignments, I was offered and I accepted financial compensation. How should this income be reflected on my tax…
Wondering how the import works and if everything carries over from my old tax returns?
I was one of five children to inherit this property back in 1968. My sibling didn't want the property so I paid the tax and built a cabin on it. In 2010 the siblings sign the property over to me. I need to know how I figure the basic price for this property. Im selling the property on a contract for deed. So will the basic…
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