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In 2024, I transferred a $7500 EV Credit to a Tesla Dealer. Now I want to effectively 'use' that credit to effect a tax free withdrawal from an IRA. I am 70, so not subject yet to RMD. My income, Married-Filing Jointly, is less than half of $300,000. The Tesla car is eligible for the full $7500 Federal Clean Vehicle Tax…
I did a backdoor Roth in 2023, but didn't make enough income to totally phase out of the deductible amounts. So when I put my Trad IRA contribution —> Roth IRA conversion information, FreeTaxUSA is "forcing" me to take the partial Trad IRA deduction, and wants to tax me on my Roth IRA conversion. I double checked that the…
While working I made after tax contributions to my 401k. I retired in 2008 and rolled the 401k into a Traditional IRA. When I did that I received a 1099-R showing a gross distribution (box 1) amount and a Box 5 amount. I was taking a total distribution. In 2018 I began taking a RMD from the account but I forgot about the…
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