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Hi All,

My tax forms came in the mail and my 1095-C shows that I had health coverage from February thru December from a previous employer whom I had coverage commence in February but I quit in April. I also did not continue coverage via COBRA. FYI, I worked for a healthcare company that was an EPO so it had its own health insurance, if that info makes a difference.

Am I actually covered for those 11 months? I live in CA so I'm concerned about MEC penalties. I know there's the 3-month Short Gap Exemption but I only had health coverage with my new employer from September thru December so I"ll still get dinged for two months if I'm in fact not covered for 11 months per this 1095-C.

Thank you!

I sold a house and provided the buyers with 3 yr financing. They are paying interest only monthly. Do I need to provide them with a 1098 Mortgage Interest Statement?

Thanks for your input

Help please

I made over 40k this year, filed my taxes and it said that my federal refund is only $41. Any other year Ive filed my taxes Ive always received more. Am I doing something wrong, is this a mistake? Also to add it’s showing my state return is around $140, so in total I’m getting around $180 something for my taxes this year when every single year prior I received way more. Also to add, I do it myself on the free option on the tax apps. Should I have someone do it for me like an agency or something??

heads up please assume you’re replying to a 5yr old

I have a duplex rental property I bought back in December of 2021. The first year I lived in one side and rented the other (was the best decision of my twenties). The next year I was deployed (Navy) for the entire year of 2023 so I didn’t pay attention to it. This past year was the first full year I rented both sides. It cash flows pretty decent but my property management has put probably around 8k in repairs to it and all the receipts are on my portal.

My question is should I print all these receipts out and bring them when I do my taxes in addition to my 1099?

I grew up lower middle class so I’ve never actually met some who’s done a tax right off. How does that process work?

My job has provided me health insurance for quite some time I have mistakenly and very regrettably not canceled my Covered CA/ObamaCare plan until today but coverage will still be in affect until 2/28/25.

I had this plan all of last year which contributes to me owing a couple thousand in taxes. If I had this plan for only January and February of this year, could I expect a much smaller tax bill next year when I file?

For context I’m a single male with no assets or dependents, who has been making an average of $50k these last few years. I have a Kaiser plan from my job that I do use and the aforementioned plan that has seemingly been screwing me which I do not use whatsoever.

Hello,

I've been selling on ebay as a side hustle for a few years. 2024 was a big year for me when it came to sales, to the point where I had no idea I made as much as I did. I just received my 1099k form and to my understanding, I have to report all my profits correct? What has me confused is that almost 95% of my sales were things I found for free. If I'm reporting profits, am I just completely screwed? I've been getting a lot of anxiety since I received the form. Any information would help. Thanks!

So I work as an agency nurse and have a few 1099s to print out. The problem is, all my 1099s are printing out blank. I've tried printing them from multiple sources; my fone, a tablet and my laptop and they still print out blank with no information. Very weird.

Has anyone ever run into this issue before or have any suggestions? Thanks!

Last year around the summer of 2024, I made/cashed out $59.19 from Just Play and $5 from Tester Buddy. With tax season just around the corner, I’m filing my taxes via TurboTax, but I’m having a hard time finding a valid method to report these earnings. Which form should I report these? Does the apps themselives send a form? The IRS? PayPal (given that’s where these earnings were cashed out to)?What should I do? I’ve tried looking for numerous advice, but none of them were direct to the point.

Again, this is specifically in regards to TurboTax.

My husband and I file her taxes on March 8 of 2024 for 2023 taxes, they were denied and we resubmitted March 10. They were immediately put under review three different times without the IRS saying they needed anything except further time to evaluate. We were then instructed in September to resubmit our tax forms and everything was received October 10. We were told to give it 16 weeks for further evaluation and it has been longer than 16 weeks. We contacted the IRS who recommended at this point talking to the Taxpayer Advocacy who said it would take up to four weeks before we heard anything. We really just wanna get our taxes filed for the 2024 year and get a refund back. Does anyone have any advice on how to make this happen?

Hello!

I need to file in the USA an individual tax return for 2024.

On December 20, 2024 I received a paycheck $1000. On December 31 I received a direct deposit on my bank account $1500. Totally in cash received $2500 for work in December 2024.

In my W2 for 2024 I see just $1000.

Employer claims that the second paycheck (a direct deposit in my case) in fact was dated January 2, 2025. So, $1500 will be included in W2 for 2025.

Again. Payment for work in December 2024. Direct deposit on my bank account December 31, 2024. Paycheck date January 2, 2025.

$1500 of income for filing tax return must be included in 2024 tax return or 2025 tax return?

Can you please provide IRS rules (a hyperlink).

I was working at a job for 9 months in 2023, and quit on Feb 3, 2024! I got a new job pretty quick and they sent me a w2 but I have received one for my old job! I worked a full month and was taxed on my tips. So shouldn't they send me a w2 even??

My mother-in-law sent me money via PayPal throughout the year—for birthday presents, reimbursing me when I used my credit card because some businesses didn’t accept her Amex, etc. However, I didn’t realize she had selected “Goods and Services” instead of “Friends and Family” when sending the money. She’s older and didn’t know the difference.

Now, I’ve received a 1099-K from PayPal. I called PayPal, but they said they can’t amend it because she selected “Goods and Services.”

Is there anything we can do? We prepare our taxes ourselves using H&R Block. How should we input this information?

I just finished school and recently gained access to my trust and some other assets. My family won’t really discuss money with me, so I feel pretty naive about taxes and financial responsibilities. A friend suggested I should make sure everything is in order, but I always assumed that things like trusts and inheritance taxes were set up properly by those who came before me. Is there anything I should be doing to make sure I don’t run into tax issues? I owe $2000 to the IRS i was paying on for a job while I was in school, that I will be paying in the next couple of months, but I'm concerned mostly about the taxes I need to file for last year. I just started a new job, so I'm not too worried about that.

Hi, I've been searching all over the internet but I am either not searching for the right things or just have non-working braincells but I opened an LLC in california on Feb 2024 and closed it on March 2024 using the short form termination form, never used the llc at all. I am wondering if I need to file taxes or pay the $800? Would definitely appreciate a dumbed down (but not mean pls I'm fragile) explanation 🙏

Regards, Someone who is just starting to learn how to adult and is not doing a very good job at it

I don't currently work and I'm a full time student. I had a Pell Grant that has already been used and I had the last $4,000 of my FAFSA loan sent to me in the form of a check. I plan on using the money for whatever I need right now pretty much and I have a bad tooth so a lot of money will be going into fixing my bad tooth as well.

My question is the title. Would I be taxed on it? I don't think it would be since that's all I got for the year and it is a loan that I have to pay back. But I'm not 100% sure.

State - NV

Mother passed in March, 2024. I am the executor of the estate and got my letters to administrate in August, 2024. Immediately listed her condo once my letters came in and closed in September 2024. Mother had minimal debt and myself and 3 sisters have just got disbursement approved for the remaining surplus left in the estate account.

My question is, what if anything do I need to file with my 2024 taxes in regard to the sale of the condo in probate? I am currently a stay at home parent. My spouse works and has a W-2 and we file as married filing jointly. I haven’t yet filed my mothers taxes for 2024 but I don’t even think she made enough to require a file.

Thank you in advance!

I’ve made some money on crypto and would like to pay the tax immediately so I don’t have to worry about it later. Is there anyway I can do that? I have an estimate on how much I owe fed and state and this would be my first time paying taxes also if that’s important.

I forgot to add a 1099 from Vanguard that has my dividend income, but my return was already accepted. Should I file an amended return?

I am a self employed (own a business) single filing individual. I earned ~$46k and put close to $22k back into my busines. I am guessing it will be wiser to itemize my expenses rather than accepting the standard deduction of $14,600. The software I used (H&R Block) estimates I owe over $8,000.. which I cannot afford right now so I am desperate to lower this.

My other question is for a 1094-a form. I qualified for a marketplace plan and paid 0$ towards it throughout the year. I estimated I would make about $20k in 2024.. since my business only did $600 in 2023. My premium tax credit is listed at around $3,500. Is that $3,500 deducted or is it added to my taxes since I made more than I though I would??

I opened a traditional IRA, funded it with $7k after-tax dollars, then did a backdoor Roth conversion on the advice of my financial advisor. I got a 1099-R from Vanguard for it, and after entering it into TurboTax, I'm getting taxed on that $7k all over again. Why is that happening? Am I missing something?

So I’ve gotten some gift cards through the mobile app fetch. I’ve heard mixed things regarding how the gift cards are earned and if they are to be reported on the annual taxes as income. From what I understand, if I scan receipts and get gift cards, that counts as a reimbursement and I don’t report it.

However what if I am using a good rx card (pharmacy discount card) on a prescription drug and the app rewards me some points that I use to claim a gift card? Does this fall under reimbursement as well? Or is this reportable income. Does it matter if the amount of money here is above a certain threshold?

Genuinely curious and thanks in advance.

EDIT: Figured it out thanks to y'all. Leaving this up for now as a cautionary tale to always double and triple check your entries!

I need some guidance.

I started using TurboTax over a decade ago since it seemed simple and easy and my wife and I usually got a sizeable amount back from the government so we figured the cost of using that plus the fee for state filing (Maryland) was worth it.

But last year, my wife apparently didn't fill out her W4 properly and her job didn't take out any of the standard federal taxes except for FICA and Social Security. We ended up owing about $3,000 (which I found odd since I figured with the amount we usually got back, it'd be a wash at the least).

She did this again when she started a new job in February (take my wife, please) but I caught it later so she had some money taken out. This time, TurboTax said we owed about $1,700. It made sense considering 2023's return and she did pay some taxes.

Today, I tried the IRS Direct File out of curiosity (and after reading how much Intuit spends trying to kill it). It calculated that the government owes us about $1,300!

So... WTF? Should I try one of the other services and see if there's another difference? There shouldn't be any difference, should there? Our tax situation isn't complicated: two incomes, no investment or additional income, dependent care expenses for our daughter, plus student loan and mortgage interest. I can't see myself using TurboTax especially now, but I'm now even concerned that I overpaid last year's taxes, even with my wife screwing up on her W4. I'm sure there's a process for refiling a previous year's taxes, but I don't have the time to really devote to it. Are there any online tools that would be able to analyze a previous year's taxes to see if it's worth pursuing?

Hell, should I just bite the bullet and hire a CPA?

(On top of all this, the IRS Direct File may disappear as no one can get a read on what absurd chaos is occuring in our government.)

TL;DR: TurboTax said we owe money this year and last year, but IRS Free File says we get money back.

Is it worth going to a professional tax preparer? Or do they do the same thing TurboTax does? I would hate to shell out the more money getting them done only for them to tell me the same amount TurboTax does. Thajks

I got a 1099-G from Colorado this year. It had an amount on line 2 state income tax refund. Where would I report this on my return? Is this considered a 1099-MISC? Using HRBlock to file this year and don’t see an obvious place to put it. I’m assuming it goes on federal forms.

Filing with turbotax right now and trying to figure out how to deduct my negative self-employment income from my w2 income. My sole-proprietorship had a more expenses than income this year. I was under the impression that this loss would offset my regular w2 income but it doesn't look like it on the final report. Any advice is appreciated

Tl;dr: I have $500k in PA W2Gs and $50k in MI W2Gs. Losses > gains in both states. Moved from PA to NYC in July 2024. Never was MI resident, just went for work. Also have $60k in 1099R while living in PA, 2k in PA W2, 60k in NY W2, and 15k in MI W2 earnings. I got help and quit gambling 4 months ago.

Do I have to pay taxes in PA, MI, and NY on W2Gs or can I deduct the full amount of losses (up to gains) from my state taxes for each state? Do I have to file all my W2Gs with NY or NYC even though I didn’t live there or gambled there? Will I owe local tax (NYC or Philadelphia) on my W2G earnings even though I lost more than I won? Will I have to pay NY and PA on my 1099R? Anything else I should be aware of?

Any info would help! Thanks so much in advance!!

Hi all, I'd appreciate some advice for clearing up something on my taxes. Last year I did my first backdoor Roth conversion. In the three days that the money had to sit, it gained one dollar. My understanding is that this is common. My contribution is now $7001.

When filling out my taxes on FreeTaxUSA, it tells me "You have $1 of excess traditional IRA contributions. Excess IRA contributions will cause a tax penalty. You can reduce or eliminate the penalty if you withdraw the excess contributions before timely filing your tax return."

What is the proper move here? My Trad IRA account is at $0 and the $7001 is in my Roth. Do I go into vanguard and withdrawal $1 from the Roth account? If so, where should it go? Am I better off leaving the $1 excess as is? Furthermore, should I have let the $1 extra stay in the Trad account somehow instead of moving over to the Roth, or is this normal?

Would really appreciate any thoughts here. Thanks in advance!

I am curious if I or my spouse can claim the 2024 Child Tax Credit under these circumstances: 

1. Married Filing Jointly. My spouse has non-resident tax status but is treated as a resident since I live and work in the US and thus have tax residency status. 

2. My child has US citizenship. My spouse and I do not have citizenship or PR status.

3. My child lived abroad with my spouse for the entire year of 2024. 

To clarify: I lived in the US and my spouse & child lived abroad in 2024. Thanks for any opinion!

Wife and I both claim 0 on our W4s and still end up having to pay more taxes at end of year and can't figure out why.

I'm so sorry for this very stupid question. I opened a roth IRA last year and put in the max contribution. Do I need to report that on my taxes somehow if I did not withdraw from it at all? Or do I not have to pay taxes until I take the money out?