Made a big mistake and contributed to the max limit for Roth IRA for 2023, 2024, and 2025. Found out I wasn’t supposed to after speaking with a friend. I didn’t know that you need to earn income to contribute. I know…it was dumb and I should’ve done my research before listening to someone else’s advice. :\ I am not working…
Hello, in my 2023 tax return I claimed tax treaty exemption on form 1040 by entering a negative number on form 1040 line 8 and schedule 1 line 8z (Other Income, Miscellaneous Income). I just realized I need to adjust my income on form 540 (California Resident Income Tax Return) because tax treaty exemption does not apply…
Hi, We’ve recently bought a house in CA and are thinking of paying property tax before year-end and deduct it from our CA taxes. We won’t have enough to itemize Federal taxes, but the amount will be above CA standard deduction. Two questions: 1. Can we still itemize CA deductions even though we’re taking standard Federal…
I am married filing separately in CA due to my spouse's student loan. Can one of us still deduct paid property tax on our shared home?
Are there any other deductions I can claim if I purchased a used electric vehicle in 2024 and didn't receive any EV credits - California or Federal?
Hi, I need to add an adjustment to my income for California. On Form CA 540 I am able to do this by adding an addition on line 3b Column C for additions. The interface is pretty poor in that I don't seem to be able to manually add additions to my California income. I figured I could also add it in line 8z. Maybe I am…
Basically, I understand from FTB website we owe "your estimated tax based on the lesser of: 90% of your tax for the current tax year 110% of your tax for the prior tax year (including alternative minimum tax)" By Jan of that year through withholdings + estimated tax payments. I am wondering if FreetaxUSA computes if this…
I'm filing an extension, and I'd like to pay the estimated amount owed for both federal and state (CA). FreeTaxUSA says I can pay for federal through a bank transfer, but it says I need to mail a check for state. Why is that? Is it because I'm filing an extension? If I filed the taxes without an extension, would I be able…
I need to pay the state return to avoid late penalties, and I might as well go through the whole filing process and pay what I owe, too. Can I file and pay for my state return on the FTB site, and file an extension for Federal on FreeTaxUSA, and pay the estimated tax that I owe for Federal as well? What's the best way…
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…
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