The most recent content from our members.
Hello, This is my first time using FreeTaxUSA. I am filing for the year 2021. I just filled out my profile information. I am inputting my W2 information. On my W2, it shows that I am a statutory employee. On FreeTaxUSA, it is "Statutory Employee - N/A" It says that it is not supported. What does this mean? Am I able to…
I'm helping my mom filing her taxes this year w/ freetaxusa, and I'm stuck on her Schedule K-1. My mom is a co-owner of a restaurant, and the Schedule K-1 she got this year has box 17 with code A, AC, AJ, and V. Code A has a dollar amount with it, so I know how to enter it into freetaxusa. For AC and Aj, there's an…
I am a non-resident from Peru and the sole proprietor of an LLC established in September 2023 in the United States. The LLC has received a nominal payment of $100 from Colombia through Stripe. Given the current and projected financial activity, I am seeking professional advice on my US tax obligations, including the…
In 2024 I expect to remove my vehicle from business use. I intend to purchase another vehicle to place in service. I expect to recapture depreciation on the vehicle removed from service and depreciate the new vehicle placed in service for tax year 2024. If I close my business later in 2024, will I also have to recapture…
I have been retired for years and my taxes have been simple. I haven't had to do anything to have taxable income low enough to have zero taxes. That is about to change. I have been investing in courses and purchasing equipment for my new business, teaching martial arts online via a YouTube channel and Online Course…
Form 8995 is not calculating correctly for 5 or more businesses when line 1V is "See Statement". I have 8 Rental Properties entered on multiple pages of Schedule E but when FreeTaxUSA website forwards the information into Form 8995, it does not equal the amounts entered. Has anyone encountered this or do I just need to…
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