You need to file Form 1116 with your tax return when you paid more than $300 or $600 in foreign taxes. Here’s a walkthrough for how to do it in TurboTax.
How to Enter 2024 ESPP Sold in FreeTaxUSA: Adjust Cost Basis
Follow these detailed steps with screenshots for how to adjust the cost basis in FreeTaxUSA when you sell ESPP shares. Otherwise you will get double-taxed.
How to Enter 2024 ESPP Sales in H&R Block: Adjust Cost Basis
Follow these detailed steps with screenshots for how to adjust the cost basis in H&R Block when you sell ESPP shares. Otherwise you will get double-taxed.
How To Enter 2024 ESPP Sales In TurboTax: Adjust Cost Basis
Follow these detailed steps with screenshots for how to adjust the cost basis in TurboTax when you sell ESPP shares. Otherwise you will get double-taxed.
Fidelity Private Client Group But No Free TurboTax, Why?
Fidelity gives a selected group of customers free TurboTax. See how to check if you have the offer and what to do if you weren’t selected.
Downsides of HSA: When It’s Not Worth It to Contribute
The triple tax-free benefits of an HSA are easily negated by other factors. Don’t choose an HSA-eligible health insurance plan only to contribute to an HSA.
Voluntary Tax Withholding on Selling I Bonds at TreasuryDirect
TreasuryDirect normally doesn’t withhold taxes from the proceeds when you sell I Bonds. If you prefer to have taxes withheld, here’s how to do it.
Which Treasury to Buy While Keeping Your Taxes Simple
Buying Treasuries can complicate your taxes depending on which ones you buy and how you buy them. See how to keep it simple and avoid tax headaches.
Roth IRA Withdrawal After 59-1/2 in TurboTax and H&R Block
Detailed record-keeping is not required when you withdraw from a Roth IRA after age 59-1/2. See a walkthrough in TurboTax and H&R Block tax software.
Tax Planning with TurboTax What-If Worksheet: Roth Conversion
After you file your taxes with TurboTax, use the hidden What-If Worksheet to plan for the current year. See how to use it to plan for a Roth conversion.
Get Rid of Estimated Tax Payment Vouchers from TurboTax
Seeing estimated tax payment vouchers (Form 1040-ES) from TurboTax doesn’t mean you must pay estimated taxes now. You can remove them to avoid confusion.
Opt Out of Underpayment Penalty in TurboTax and H&R Block
Decline the help from tax software in calculating the underpayment penalty. Let the IRS calculate the penalty and bill you when necessary. They often won’t.