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I'm doing a test run of my 2025 taxes and noticed that the 1099-R entry never asks if I made a QCD. I'm over 70 1/2, box 2b is checked, box 7 code is 7 and IRA/SEP/SIMPLE box is checked. I won't get a 1099-R from my custodian with box 7 code Y since I write my own IRA checks and send them to the charity. Am I missing…
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!
At the age of 73, I'll have to start withdrawing from my Federal Thrift Savings Plan and adding to my taxable income. Is there a better alternative for tax relief?
I'm hoping for a decent refund this year. When is the soonest I can file? And when would my refund come? Thx.
Does anyone have any tips on getting their tax withholding set correctly? I feel like every year I'm either way to high or way to low. I work a pretty standard w2 job but i have interest income, dividend income, sometimes capital gains but not a significant amount. I also file jointly with my wife.
I'm looking to see if any other FreeTaxUSA users are looking at the new floor on charitable donations. Starting in the 2026 tax year itemizers who make charitable contributions will only be able to claim a tax deduction to the extent that their qualified contributions exceed 0.5% of their adjusted gross income (AGI). My…
This past year Monopoly and McDonalds had there giveaway where they did cash and other prizes. Sadly didn't win any cash prize, but I did come away with a haul of non-cash prizes. I'm curious what threshold there is for having to claim any of this as income and what anybody would use to determine value.
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?
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