The most recent content from our members.
How will I file if I received money from nycha after tenant pass away and will need give the money back?
I've had to pay Estimated Tax Payments for years, since I have SSDI and rental income. I do not have a job, or W-2 forms. It's always been difficult to properly estimate the amount of Estimated Taxes I have to pay, as well as paying on time, quarterly. Can I use a W-4 form to withhold taxes, so I wouldn't have to pay…
Hello! I rented out a room in my home to a family member at a below market rate while living in the home all year. I would like to add this rental income to my taxes. I am filling out Schedule E for this and have questions about the Days of Personal Use vs Days Rented to Others. The tenant and my wife and I lived in the…
I converted a rental to my primary residence and I'm carrying (for several years) disallowed deprecation losses. How can I get the application to add the correct forms? I expect a Schedule E with no rental activity and an 8582 for the loss carryover, but the application won't accept Schedule E input of zero days rental…
I've received SSDI for a number of years now. I have a small rental home, and monthly rental income from it. I live with my parents, who are seniors, and the income is shared with them. But I file taxes separately from my parents, who are married. Is my SSDI taxable? I see it's taxable if total income is over a certain…
Hello: It would be great to get FreeTaxUSA to support the following income adjustments on Schedule 1: Line 24z (This is helpful to do things such as nominee adjustment). Line 24b (Deductible expenses related to income reported on line 8l from the rental of personal property engaged in for profit) Thanks so much!
I had an airBNB that only got limited use in 2023. However the property was renovated in 2020 and I take depreciation on the renovated property. How does this deduction change (or what are the tax implications) if I change this from a rental property via AirBnb to a non-rental/vacation property that I use for more than 14…
Does FreeTaxUSA calculate depreciation of the basis of a property, or must that be done manually then entered?
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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