How to enter a combined 1099-R form for two rollovers in the same year to both Traditional IRA and Roth accounts in TurboTax, H&R Block, and FreeTaxUSA.
How to Enter 2023 Mega Backdoor Roth in FreeTaxUSA (Updated)
Follow these easy step-by-step explanation with screenshots when you enter the 1099-R form for your mega backdoor Roth into FreeTaxUSA.
The Best Tax Software for Foreign Tax Credit (IRS Form 1116)
I tested TurboTax, H&R Block, FreeTaxUSA, and OLT on doing a Form 1116 for the foreign tax credit. Four software packages gave three different answers.
Too Much Hassle in Claiming Foreign Tax Credit on IRS Form 1116
Holding international stock funds in a taxable account gives you foreign tax credit, but claiming it on IRS Form 1116 has become too much hassle.
When TurboTax and H&R Block Give the Wrong ACA Subsidy
If you’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.
Backdoor Roth: Planned vs Unplanned
If you did an unplanned backdoor Roth, clean up and make it planned from now on.
Tax Software: Buy the Download, Not the Online Service
Although it sounds like more old school, the software you install on your own computer is actually both less expensive and more powerful.
Covid Retirement Account Withdrawal in TurboTax and H&R Block
If you withdrew from your retirement account due to COVID in 2020, follow this to get the special tax treatment in TurboTax and H&R Block tax software.
Make Backdoor Roth Easy On Your Tax Return
Many investors are confused when they report Backdoor Roth on their tax return. It’s very clean if you learn how to do it the easy way.
Learn More About Taxes: Online Courses, Classroom, Books
Whichever learning style suits you, learning more about taxes will help you save money in the long run.
If IRS Offers Free Direct Filing How Many People Will Use It?
People aren’t looking for the easiest way to file their taxes. They are looking for ways to pay the least amount.
Stop Wasting Money On Doing Your Taxes
If you use a brick-and-mortar tax business for doing your tax returns, you pay hundreds of dollars, when you can do it all free with software. Stop throwing away your hard-earned money!