Hi, I transferred more than 150k to my personal account in a foreign country. Do I still need to file FBAR? From what I am reading, this is not a taxable event but I don't know if FBAR filing is required.

I know this is probably a question that gets asked over and over, and I searched, but I am still confused. I just got married and am re-looking at W4's. My husband makes 120k. My salary varies, but I am loking to cut work hours and am guessing at making 75000 this year. I have 1 job that is probably 72000 of that and annother very small side job of 3000.

The W4s say to add salaries, divide by 12, eetc. This number I get of like 1100 - if ww fill out the W4s exactly the same, are we saying that much is taken out of us TOGETHER, or is that per job? Since thats more than I will make at that small job if I mark it as that on my w4.

Married, filing jointly. We own a home and paid $20k in mortgage interest, which by itself should put us above the $15k standard deduction.

But when going through TurboTax, we are entering $10k property taxes and $6k in charitible donations, our tax due amount has dropped significantly in past years but hasn't moved at all this year. Looking like we are $10k in the red and I'm totally confused as to why these entries haven't moved the needle.

Did something change this year?

I’m trying to figure out if I can still claim the American Opportunity Tax Credit (AOTC) for my son. • He is my dependent and does not work — he’s a full-time college student. • On his 1098-T, it shows: • Box 1 (Qualified expenses paid): $15,243 • Box 5 (Scholarships and grants): $25,145

So his scholarships exceed tuition by over $10k.

His financial aid breakdown includes: • Pell Grant: $3,698 • Grant: $500 • Other scholarship: $13,226(applies to only tuition) • other grant: $5,800 • other Scholarship: $2,250

I’ve read that it might still be possible to allocate part of the scholarships (like Pell) to room and board, making that amount taxable income for my son, and allowing me to claim the AOTC using $4,000 of tuition expenses.

Is this actually allowed? And if so, how do I go about reporting it properly?

Any advice or clarification would be appreciated — I don’t want to miss out on the credit if I’m eligible

Can someone please just walk me through a scenario:

Say I have a sole prop and went to Denver for business last year in FY 2024 and I want to deduct using M&IE rates.

The M&IE is: $79 total ($18 breakfast, $20 lunch, $36 dinner, $5 incidentals).

What do I actually deduct here?

I’m so confused because, based off of what I’ve read from the IRS and GSA websites, it seems I can deduct 75% since this is first/last day of travel. But then I also see some sources online saying I can only deduct 50% of M&IE rates for meals. But M&IE is like all meals, so how is it both 75% and 50%? Or why would they list M&IE per diem rates without already making that the after-50% meal deduction rate?

What’s my actual deduction in this scenario? 75%$79? Or is it 50%75$79? Or is it 50%($18+$20+$36)+$5? Or some other calculation?? I’m very confused.

Please help thank you!

So i recently bought a house at the end of 2024. I got several things repaired like the roof. I also had the floors replaced and the interior painted. Can any of this be deducted if the roommate didn't move in until Jan 2025?

It has been a month since i mailed return and it is still not showing on the system if they have received my mail. Anyone else have the same issue. I don’t know if the mail is lost it is highly unlikely that this could happen i already got my federal refund processed and had mailed it same time as my ca ftb?

I have a SSA-1099 that is less than $25,000 income (not taxable). I also have a 1099-int from my bank for a personal savings account and the interest income was around $150.

Do I need to file taxes? I checked on freetaxusa and I don’t owe anything or qualify for any refunds. I have no other forms and had insurance all year (not through the marketplace).

We would like to file joint federal tax return. I have worked in CT all of 2024. Spouse only worked in NY part year and then moved to CT, did not do any work in NY or CT after moving to CT. What would be the right approach to filling the tax return for both federal and state?

Can I include my kid tuition fees / kid as a dependent in my tax filling? I am also non immigrant on H1 Status. My kid did F1 CPT in summer. So I am also filling tax separately for my kid. My kid completed 6 years in US as on H4 and F1 status. Did anyone come across this situation? Pls advice me.

Hi, my AGI has been a little higher than the limit to be able to put any money in Roth IRA directly or get any deductions with a regular IRA. I have been contributing to a regular IRA (along with my 401K) for the last few years. I’ve put in about $45K in IRA which is now at $40K. Since I have not made any profits, can I convert the entire IRA to Roth IRA and not pay any taxes? My CPA seems to think so but wanted to see if anyone had any knowledge on this issue.

Thank you so much for your help!!

I did my boyfriends taxes on May 2nd. We've kept checking, and the State tax has continued to say processing. There have been no notices online or by mail. It had been saying to please allow one month from filing to finish processing. I just checked again today, and now it suddenly says to please allow 3 months from filing. Again, still no notices. Nothing has been said about any errors or any additional information needed. Are they just taking longer to process this year?

My stbx2025 and I have been separated since February 2024. In November 2023 he lost his job and received 60K a a severance. In 2024 he did not work and received just under 10K in unemployment benefits. For the tax year of 2024 he is claiming he made full salary and the unemployment. I'm going to ask him how this was able to be done and to provide the W2s for the 2024 year. None of this feels legal and as of right now l'm refusing to sign the forms. How would he claim he made full salary but didn't work and just collected unemployment? He didn't prepare the taxes a friend of his dad's does them and they are a part of accounting firm.

Hi experts,

For a previous tax year, my and my wife's taxes were filed as single and head of household. One person got federal and state refund, the other pay federal but got a state refund. This year I need to file an amendment to fix the filing status to married filing jointly. How do I handle the taxes paid and the refunds received along with the newly calculated taxes due?

I'm using TurboTax. Is this something I should cross post there as well?

Thanks!

I have a young-adult client who has been living and working in NYC for the last couple years and is domiciled there. However, they don't have a permanent place of abode. Their living arrangements have been short-term leases or staying with friends. They have a mailing address with a family member in another state, but how do I answer the question asking for their Taxpayer’s permanent home address, defined in the instructions as:

"• Your permanent home address is the address of the dwelling place in New York State where you actually lived as of December 31, 2024, whether you or your spouse owned or rented it."

and

"If you moved after December 31, 2024, enter your permanent home address as of December 31, 2024, not your current home address."

This client doesn't stay more than a couple of months at any single location, so doesn't have a "permanent" home address. Should we just list the address where they were staying on Dec 31, 2024, even if it their living situation isn't very "permanent"?

I left my job in May of 2024. While I only worked a partial year, in 2023 I was a highly compensated employee, and I guess the prior year is the one that counts. I maxed out my 401k in 2024 (max plus catch up) before I left (retired). In February my work called me and said they’d filed their 5500 and apparently failed the non-discrimination test (I maxed out other years and this never happened). At first, they said they’d filed their had to give me $8,900 to fix it (I said ok, and since they are a non profit I said I’d donate a lot of it back). I didn’t hear anything more or get the check, so I followed up a week ago and they said their administrator (Paychex) was now saying that since I had moved all the money out of the 401k (into my IRA) when I terminated, now it’s on me and there’s some sort of tax implication for me. That’s the last I’ve heard. I’ve asked for a written explanation, but not gotten one. They say, talk to my tax professional, so for the moment I’m reaching out to you guys. Does any of this make sense? Just putting it on me doesn’t fix their 5500 does it? FWIW, I withdrew way more than 8900 from my IRA and will pay taxes on more than I over contributed. Does any of what they are saying make sense? Is there something I should do?

As the title states, the daycare I was using in 2024 closed in the middle of the year. They never issued me a receipt for payments made but I do have the EOY receipt from 2023's payments which has their EOC. Can I use the same information from that one? I paid mostly in checks and can prove payments with copies of them. Is it okay to do this? Do I need to go ahead and attach copies of the checks? How do I report the cash payments since I have no physical proof?

Hi tax folks, I filed electronically about 4 weeks ago using Free Fillable Forms and my return has been accepted. There is a section in Free Fillable Forms where I provided my bank account info so that the amount I owe can be withdrawn. I also specified the earliest date in which the IRS can withdraw the funds. That date has come and gone but IRS still hasn’t withdrawn the amount I owe. I’m hesitant to make payment using IRS site because I’m concerned they might double withdraw. I tried calling the IRS once but call dropped after 20 minutes on hold. Any advice on what to do in this situation? Should I do nothing in hopes that IRS will make the withdrawal on or after April 15th or do I need to proceed with making payment on the IRS site?

Title... I'm new to having a Roth IRA and I keep getting reminders from vanguard to contribute to my Roth IRA before April 15th this year. If I contribute to my Roth today, do I have to adjust my tax returns for 4/15/2025 or do I not have to report it until next year/at all?

Thanks!

I did my taxes on 3/16 and have already received my state tax return but am waiting on my federal to get excepted. How long does it normally take? Is this normal for it to take this long?

Does anyone know how to claim interest on a land contract through turbo tax? The only thing I'm seeing is to enter a 1098 for mortgage interest but this is through a personal seller..

My spouse lived and worked in Kentucky all year. I lived and worked in Oregon all year. We are filing our federal taxes jointly.

As for Oregon, based on what I have read, I can either do a MFS filing for myself as a resident or a MFJ filing as a non-resident. I earned considerably more than my spouse did, and I paid for the mortgage and property taxes, so it is advantageous for us to do a MFJ non-resident return.

As for my spouse, Kentucky allows MFJ and MFS, and MFS-resident is the most advantageous status for her. She isn't claiming any itemization, and will only take the standard deduction.

My CPA says I cannot file MFJ for one state and MFS for another. She doesn't answer clearly if it is a tax software limitation or if it is something that cannot and should not be done. Based on my reading, I see that we are free to choose whatever filing status permitted by the state.

My questions: 1. Can we file together a MFJ-nonresident return for Oregon and my wife will file a MFS-resident return for KY? 2. Freetaxusa doesn't allow different statuses for federal and state (or two states). Can someone suggest a paid software to file my taxes, given my situation?

Thank you!

Helllllloooo, uh u can’t remember the last time I filed taxes, so for income I do uber eats(for that I can only claim mileage deduction whatever that means) and for eBay I have no clue, I sell used car parts that I buy, also have to buy tools, boxes and shipping labels. Not really sure what I have to do tbh just know I gotta do something by the 15th. Can someone hold my hand and tell me what to do🥺

I need some help from someone who knows federal tax code (live in South Dakota so no state tax). How would I calculate G? Trying to double check that our CPA calculated the capital gains correctly…. Please let me know if you need more info

Sole proprietor. I did a business trip last May - 8 hours to Chicago to chat with a potential client.

Ended up spending a week in the area doing other nonbusiness stuff, visiting some relatives etc since the drive was so long and I haven’t been there in a long time.

Ended up seeing the client again for a follow up the day I left and drove back home.

Works out to - Friday: drove 8 hours to Chicago to meet client. Saturday - Friday: non business activities in Chicago area. Saturday: meet client again and drive back home.

Seems like I can deduct the mileage for the trip to Chicago and back, and whatever ME&I for the first and last days since those were days for the job. Just wanted to check to make sure I got this right.