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How to enter a consolidated 1099 on your tax return
https://www.youtube.com/embed/YEwf85vDSJc?si=r3cYHviRNI_iOt6a
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How to claim the OBBBA tip deduction on FreeTaxUSA
https://www.youtube.com/embed/kJUVoFWdPDE?si=RIl0VkskfeUcjadB
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How to report income from renting part of your home
https://www.youtube.com/embed/NoNVbjJWw9A?si=FNUS6FjdGmCykJJ-
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How to e-file a prior year tax return with an IP PIN
https://www.youtube.com/embed/wJ0zS8TKsSI?si=_nOZFvss9nKizuqm
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Reporting a Backdoor Roth - Basic Scenario (2024 and later)
https://www.youtube.com/embed/04l9R-zfGX0?si=dzZBHZaSaHqMXPFl
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Reporting a Backdoor Roth - Basic Scenario (2023 or earlier)
https://www.youtube.com/embed/04l9R-zfGX0?si=dzZBHZaSaHqMXPFl
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How to amend your tax return (did not file with FTU)
https://www.youtube.com/embed/KFDoKnXGolw?si=8LY7yyAYYNECFR6C
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How to amend your tax return (filed with FTU)
https://www.youtube.com/embed/ENtkv2_YcM4?si=8I03If8l3S_Yf7zo
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How to Claim the Premium Tax Credit
https://www.youtube.com/embed/WF_VfR7fnUo?si=Fe9B3lJkYtpso31N
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How to Deduct IRA Contributions
https://www.youtube.com/embed/QDPwBBwtKrY?si=QWB8r7mklR3VMTkz
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How to file a Schedule C for Uber, Lyft and other rideshare businesses
https://www.youtube.com/embed/bM10D4jmO7s?si=kBqU6aAergPtdcfn
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What to expect when filing
https://www.youtube.com/embed/FZXu3BNVkWc?si=Ec4ykEWRhII0cjEW
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How to use FreeTaxUSA as a paid preparer
https://www.youtube.com/embed/qIiXJczrYcU?si=QCy_eJffhBsQDWF1
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How to claim the OBBBA overtime deduction on FreeTaxUSA
https://www.youtube.com/embed/DDD15LgOMzI?si=cBXqG9B6A77hbm22
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How to claim the new OBBBA overtime deduction
Contributed by: CoryF, FreeTaxUSA Agent, Tax Pro You’ve heard about the new ”No Tax on Overtime” deduction from the One Big Beautiful Bill Act (OBBBA), and you have your 2025 W-2. Now you’re wondering what this deduction means for you and how to apply it to your tax return. This article will help you understand the…
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What is the de minimis safe harbor for tangible property?
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro There are a few options that allow business owners and landlords to deduct the cost of tangible property instead of having to depreciate those items as assets. One of those options is known as the de minimis safe harbor for tangible property. Under the safe harbor, a…
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How to claim clean vehicle credits
https://www.youtube.com/embed/_laBkoTWDGw?si=7RzzusW3vzhdaspA
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Understanding tax return rejections due to missing Form 1095-A
Contributed by: TriciaD, FreeTaxUSA Agent, Tax Pro Filing your federal income tax return can be stressful, especially if your return has been rejected. One reason for rejection is Form 1095-A (Health Insurance Marketplace Statement) wasn’t included with a tax return. This article explains why the IRS requires Form 1095-A,…
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What’s new with FreeTaxUSA in 2026?
Contributed by: CarlyN, FreeTaxUSA Team We’re always working to make your experience better. Our free federal return still includes all our forms and features with no income limits. This year, we’ve also made major steps to update our software to make tax filing easier. Here are the highlights. 1099 importing You can…
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What happens if I contribute too much to my 401(k)?
Contributed by: WrenD, FreeTaxUSA Agent, Tax Pro A 401(k) retirement plan is a common way to save for retirement and enjoy tax benefits. However, contributing too much can create unforeseen tax issues. This article explains what happens if you overcontribute to a 401(k), how it affects your taxes, and what you can do to…
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Is FreeTaxUSA the same as Direct File?
Contributed by: TriciaD, FreeTaxUSA Agent, Tax Pro Tax season can be overwhelming, especially when it comes to choosing the right tool to file your taxes online. Until recently, two options for filing a federal tax return online were FreeTaxUSA and Direct File. However, the IRS has suspended the Direct File program. This…
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What is a Trump Account?
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro With the signing into law of the One Big Beautiful Bill Act (OBBBA), the federal government introduced Trump Accounts, a new tax-advantaged savings and investment option for children. These accounts are designed to help families save for their children’s future. Here’s an…
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2025 National Tax Security Awareness Week
Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro From December 1 through December 5, the IRS hosted the 10th Annual National Tax Security Awareness (NTSA) Week. The emphasis of this event was to educate taxpayers and tax providers about the importance of protecting sensitive financial information from identity theft and…
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Can I claim an education credit?
Contributed by: Tess, FreeTaxUSA Agent Covering the cost of higher education can be challenging, but tax credits like the American Opportunity Tax Credit and the Lifetime Learning Credit may offer meaningful financial relief. Whether you're a student yourself or supporting a student dependent, the IRS provides valuable…
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Can I still file 2024 taxes?
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro and AndyS, FreeTaxUSA Agent, Tax Pro Did a major life event prevent you from filing your 2024 tax return on time? Were you missing important documentation? Or maybe you simply procrastinated and forgot to file. Whatever the reason, if you missed the 2024 filing deadline,…
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Can I import documents into FreeTaxUSA to prepare a tax return?
Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro Tax software has simplified preparing federal and state tax returns. No longer do we need to get paper forms from the post office or library, sharpen our pencils, and pull out the old ten key calculator. In just the last 5 years, technological improvements, like importing…
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What do I need to know about filing a tax return as a college student?
Contributed by: CorinaE, FreeTaxUSA Agent There’s a lot to keep up with as a college student and a mountain of important deadlines, whether they’re for applications, assignments, or exams. It’s easy to feel overwhelmed by these deadlines, but one due date you don’t want to miss is the tax filing deadline. Even if you’re…
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Can I claim the Earned Income Tax Credit if I was incarcerated?
Contributed by AnthonyS FreeTaxUSA Agent Tax Pro 💡Disclaimer: FreeTaxUSA software DOES NOT currently support this filing situation. “I spent part of last year in a work-release program — can I still get the Earned Income Tax Credit?" This is a common question for those who were incarcerated or in transitional programs like…
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What do the Box 14 codes on a W-2 mean?
Contributed by: TriciaD, FreeTaxUSA Agent, Tax Pro For many employees, the annual arrival of W-2 forms signals the start of tax season. While most people focus on wages, federal income tax withheld, and social security details, Box 14 often stands out as a source of confusion. What do the codes in Box 14 mean, and how do…
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Form 8949: What is its purpose, and when should you include it with your tax return?
Contributed by: TriciaD, FreeTaxUSA Agent, TaxPro Filing your tax return can be complicated, especially if you've had financial transactions involving stocks, bonds, or other investments. One form that plays a crucial role for taxpayers who’ve bought or sold capital assets is Form 8949. Many individuals are unsure about…
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How do I amend a previous tax return?
Contributed by: Daniel_L, FreeTaxUSA Agent If you’ve discovered information on a prior year return needs to be changed, or the IRS has asked you to amend your return, you can easily do so, and FreeTaxUSA can help! Amending your return involves three key steps: Report Amendment Information Make the changes Submit the…
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How to confirm the charity you want to contribute to is a qualified 501(c)(3) and eligible for a deduction
Contributed by: AnthonyS, FreeTaxUSA Agent, Tax Pro Have you ever donated to a charity only to later realize that it wasn't tax-deductible? I have, and it's frustrating -- especially if you’re counting on that deduction to lower your tax bill. This article will guide you through how to verify an organization’s tax-exempt…
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How do capital gains and losses affect my tax return?
Contributed by: TriciaD, FreeTaxUSA Agent, Tax Pro Capital gains and losses play a significant role in determining your tax liability. Whether you’re selling stocks, real estate, or other investment assets, understanding how these transactions are taxed can help you plan smarter and potentially reduce your tax bill. We’ll…
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What is income in respect of the decedent, and how is it reported?
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro When a loved one passes away, there’s a lot to manage — including figuring out which tax returns need to be filed. FreeTaxUSA only handles Form 1040, which covers the final tax return for the decedent as well as any individual tax returns for beneficiaries. However, it’s…
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Can I contribute to both an SEP-IRA or 401(k) and a traditional IRA, and claim deductions for both?
Contributed by: AnthonyS, FreeTaxUSA Agent, Tax Pro If you’re self-employed or have access to a workplace retirement plan and you’re thinking about maxing out your retirement savings, you might wonder: Can I contribute to both a traditional IRA and an SEP-IRA or 401(k), and deduct both on my taxes? The short answer is yes…
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Are my business-related meal expenses deductible?
Contributed by: KelliP, FreeTaxUSA Agent, Tax Pro Owning a business and understanding which expenses are deductible can be overwhelming. When you’re self-employed, business related meal expenses are typically deducted and reported on Schedule C, Profit or Loss from Business (Sole Proprietorship) Most meal expenses are…
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How to file back taxes
Contributed by: KelliP, FreeTaxUSA Agent, Tax Pro and PhillipB, FreeTaxUSA Agent, Tax Pro Occasionally, taxes aren't filed by the deadline and may remain unfiled for several years. We recommend filing them as soon as possible. FreeTaxUSA supports filing returns for the past seven years. If you have multiple years to file,…
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What do I need to know about taxes when starting an LLC?
Contributed by: AnthonyS, FreeTaxUSA Agent, Tax Pro So, you’re thinking of starting your own business and forming an LLC. This is an exciting step! But once you’ve filed the paperwork with your Secretary of State, you might wonder: What now? Whether you’re a solo entrepreneur or forming an LLC with others, it’s important…
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What happens to money in my FSA if I don't use it?
Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro Back in 1978, Congress passed a revenue act creating Flexible Spending Accounts (FSA) to aid employees with medical and dependent care costs. An FSA allows a person to contribute pre-tax money from wages into a designated savings account to use on qualifying medical and…
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How is FMLA income reported?
Contributed by: AnthonyS, FreeTaxUSA Agent, Tax Pro Are you wondering how to report the income you received while taking time off under the Family and Medical Leave Act (FMLA)? The way this income is reported depends on where it comes from and how it’s paid. Example Alex took parental leave after having a baby. Some of the…
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How do I report the sale of my home if it was also used as a rental?
Contributed by: JanaA, FreeTaxUSA Agent, Tax Pro Selling your home can be a significant financial event, and in many cases, homeowners may qualify to exclude a portion of the gain from their taxable income. The IRS provides a home sale exclusion if certain ownership and use tests are met. Under IRS Publication 523, you may…
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How does the EITC work? Why does the amount decrease?
Contributed by KiaraB, FreeTaxUSA Agent TaxPro As FreeTaxUSA support agents, we often get asked questions like, “Why am I not getting the EITC?” and “Why did the Earned Income Tax Credit go down when I had more income?” Here is a simple explanation so you can understand how the Earned Income Tax Credit (EITC or EIC) works.…
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How Do I Report a Backdoor Roth (2024 and later)?
Contributed by: RachelR, FreeTaxUSA Agent, Tax Pro There are two different types of Individual Retirement Accounts (IRAs) – Traditional and Roth. With a Traditional IRA, you'll usually qualify to get a tax deduction in the current year for any IRA contributions you make during the year. When you retire and begin using the…
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IRA recharacterization vs. conversion: key differences
Contributed by: AndyS, FreeTaxUSA Agent, Tax Pro Understanding the difference between an IRA recharacterization and an IRA conversion can be a bit tricky. While they might seem similar, it's important to know how they differ. The way these transactions are reported on your tax return can vary significantly and might impact…
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Reporting income from an online product review business
Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro Online businesses, as well as opportunities to start one, continue to grow. One emerging opportunity is conducting online product reviews, such as Amazon Vine. Before making purchases, buyers often look for products with good reviews. To promote their products, retail…
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What is Form 8938, and how do I file it?
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro Form 8938 was introduced under the Foreign Account Tax Compliance Act (FATCA) in 2010 to help the IRS combat offshore tax evasion. The form serves as a reporting tool for U.S. taxpayers with certain foreign financial assets. Unlike the FBAR (FinCEN Form 114), which is…
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Pay your tax preparation fees with your refund
Contributed by: KelliP, FreeTaxUSA Agent, Tax Pro At FreeTaxUSA, filing your federal tax return is always free! If you would like to file your state return, we do charge a minimal fee. You also have the option to add our Deluxe or Pro Support upgrades, as well as other products and services. We offer two payment choices…
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I have both Form 1095-C (or 1095-B) and 1095-A. How do I handle this when filing my tax return?
Contributed by: WrenD, FreeTaxUSA Agent, Tax Pro When you have both Form 1095-C (or 1095-B) and Form 1095-A, it means you had health insurance coverage through both an employer-sponsored/private plan or Medicare/Medicaid and the Health Insurance Marketplace during the tax year. Each form serves a different purpose and must…
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How do I report income from renting to a family member at a rate below the fair market value?
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro Your son recently got married, and you allowed the newlyweds to move into your rental property when it became vacant. Renting to a relative can be a great way to help family members while also earning some income. This option might be particularly appealing if you believe a…
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How do I calculate my home’s adjusted basis?
Contributed by: Joshua C., FreeTaxUSA Agent, Tax Pro If you sold your home during the year, it’s important to calculate the adjusted basis accurately when reporting the sale on your tax return. This figure determines how much gain (or loss) you realized when you sold the property — and that in turn determines whether any…