Just to clarify something important - if your earnings from this company were over $600 for the year, they are actually REQUIRED by law to send you a 1099. You might want to follow up with them more firmly or contact the IRS to report them, especially if this is affecting multiple contractors as they indicated. You can still file your taxes correctly without the form as others have mentioned, but the company is definitely not following proper tax procedure here. "Issues with their bank" is not a valid excuse for failing to meet tax documentation requirements.

I've been through this exact situation and wanted to share what worked for me. When a company failed to provide my 1099 despite earning over $2,000 from them, I took a two-pronged approach. First, I filed my taxes accurately using my own records just like everyone here has mentioned - reported all income on Schedule C through my tax software (I used H&R Block but the process is the same). The key is being meticulous with your documentation. Second, I filed Form SS-8 with the IRS to get a determination on my worker status, since companies sometimes claim "contractor" to avoid proper tax reporting. Turns out I should have been classified as an employee, which explained why they were dodging the 1099 requirement. Even if your classification was correct, you can still file Form 3949-A to report tax law violations. The IRS takes missing 1099s seriously because it affects their ability to match income reports. Don't let them off the hook - their "accounting system issues" excuse doesn't hold water legally. Keep pushing them for the proper documentation while filing with your own records. You're doing everything right by reporting the income regardless of their failures.

Honestly, just use a spreadsheet and fill out the PDF forms directly from the IRS website. If you know what forms you need and understand your taxes well enough to be annoyed by TurboTax's wizard, you probably don't need tax software at all. I've been doing this for years with my LLC. I keep track of income and expenses in Excel, then just transfer the totals to the appropriate lines on Schedule C. Takes me maybe 30 minutes total.

I completely understand your frustration with TurboTax's wizard approach! As someone who's dealt with similar issues, I'd recommend checking out TaxSlayer Pro. It's designed more for people who know what they're doing and want direct form access. What I really like about TaxSlayer is that you can navigate straight to Schedule C without answering endless screening questions. Their business section is well-organized and lets you input expenses by category efficiently. They also have a forms view where you can see the actual tax forms as you're filling them out, which helps verify everything looks right. The pricing is transparent upfront (unlike TurboTax's surprise fees at the end), and they handle single-member LLC filing seamlessly. State returns are reasonably priced too. I switched two years ago and haven't looked back - saves me probably an hour each tax season just by cutting out the unnecessary hand-holding.

My wife was in this exact situation last year! We ultimately decided to make the first-year choice and file jointly. The tax software we used (TurboTax) struggled with this scenario, so we ended up getting help from a CPA who specializes in international taxation. One thing to watch out for: make sure you're actually eligible for the first-year choice. You need to meet the substantial presence test in the year AFTER the year you're making the choice for. So for 2024 taxes, you need to be sure you'll meet the substantial presence test in 2025.

Derek, I went through this exact same situation two years ago with my J1 exempt status and marriage to a US citizen. The first-year choice was definitely the right move for us - saved about $2,800 compared to filing as nonresident. A few key things to remember: You'll need to attach a statement to your joint return declaring you're making the first-year choice election. The IRS doesn't have a specific form for this - just a written statement explaining your election. Also, since you're on J1 exempt status, you'll still need to file Form 8843 even after making the resident election. One heads up - if you had any scholarship or fellowship income during your J1 stay, the tax treatment can get complicated when you make the first-year choice. The taxable portion might be subject to different rules than if you remained nonresident. But overall, the joint filing benefits usually outweigh these complications. The biggest advantage beyond the better tax rates is that you can claim the full standard deduction for married filing jointly, plus access to credits like the Child Tax Credit if applicable in future years. As a nonresident, you'd be stuck with much more limited deductions and credits.

Has anyone here actually been audited by the IRS specifically about their TFSA reporting? All I ever see is people speculating about what might happen, but I've never heard a firsthand account of someone actually facing consequences for how they reported (or didn't report) their TFSA.

This thread highlights exactly why TFSA reporting is such a nightmare for US taxpayers! The lack of clear IRS guidance creates this ridiculous situation where everyone's guessing and potentially facing massive penalties. I went through this same confusion two years ago and ended up taking the conservative approach - filed Forms 3520/3520-A for my TFSA even though it felt like overkill. Cost me about $1,200 in CPA fees, but I sleep better at night knowing I won't get hit with a surprise penalty. What really bothers me is that the IRS could easily clarify this with official guidance but chooses not to. Meanwhile, thousands of dual citizens are stuck making expensive decisions based on incomplete information. The fact that someone like Sofia's brother-in-law can get penalized $10,000 and then have it reversed on appeal just shows how arbitrary this whole system is. For anyone still deciding: document whatever approach you take and make sure you can justify it. Whether you file as a trust or just report the income, having a clear rationale based on your specific TFSA structure is crucial if you ever face questions later.

One thing that helped me with my pottery business was separating my expenses more clearly. I put clay, glazes and other materials that directly go into my finished products under COGS (Cost of Goods Sold section, Part III of Schedule C). Then things like tools, kiln maintenance, and studio supplies go under "Supplies" (Line 22). I don't do complex inventory tracking - I just do a simple count of unused materials at the beginning and end of year, then use this basic formula: Beginning inventory + Purchases during year - Ending inventory = COGS The IRS mainly wants to see that you're being consistent and reasonable in your approach. My tax preparer said this method is fine for a small business like mine (about $15k in annual sales).

Small business owner and former bookkeeper here. A simple approach I've used with clients: create "product cost sheets" for each type of item you make. For example, if you make jewelry, figure out the average cost of materials for each earring/necklace/bracelet type. Then just track how many of each product you sell. Multiply sold quantities by your standard costs = COGS. You can put this on Schedule C Part III, and you don't need complex inventory systems. This method is allowed for businesses under the gross receipts thresholds. You should still do occasional checks to make sure your standards are accurate (like once a year), but this saves SO much time compared to tracking every single component.