by Turquoise Tax Systems | Jun 17, 2026 | Individual Tax
100% Free Federal. $14.99 State. Direct IRS E-File. FreeTaxUSA.com Many employer‑provided benefits are taxable unless a specific exclusion applies. A fringe benefit is generally included in income unless the employee pays fair market value or the law provides an...
by Turquoise Tax Systems | Jun 17, 2026 | Individual Tax
100% Free Federal. $14.99 State. Direct IRS E-File. FreeTaxUSA.com A taxpayer may be able to exclude income from the cancellation of qualified principal residence indebtedness. This exclusion applies to debt discharged after 2006 and before 2026. If the exclusion is...
by Turquoise Tax Systems | Jun 17, 2026 | Individual Tax
100% Free Federal. $14.99 State. Direct IRS E-File. FreeTaxUSA.com A taxpayer who meets Section 121 requirements may exclude gain from the sale of a main home. If the exclusion does not apply, the sale is reported on Form 8949 and flows to Schedule D. A main home is...
by Turquoise Tax Systems | Jun 17, 2026 | Individual Tax
100% Free Federal. $14.99 State. Direct IRS E-File. FreeTaxUSA.com Interest on municipal bonds is generally excluded from federal income tax when the bond is issued by: A state The District of Columbia A U.S. possession A political subdivision of any of the above The...
by Turquoise Tax Systems | Jun 17, 2026 | Individual Tax
100% Free Federal. $14.99 State. Direct IRS E-File. FreeTaxUSA.com Certain types of income are not taxable. These exclusions reduce gross income without requiring deductions. Many exclusions apply only when specific statutory conditions are met. Major Income...
