This is such a helpful thread! I'm dealing with a similar situation as the trustee for my grandmother's trust. One thing I'd add is that you should also check if your state has any mobile apps for tax payments - I discovered that Colorado and Arizona both have mobile apps that work for trust payments, which is super convenient for making those quarterly payments on the go. Also, a heads up for anyone using rental property income in their trust calculations - make sure you're accounting for depreciation correctly when calculating your estimated payments. I made the mistake of not adjusting for depreciation recapture in my first year and ended up with a pretty significant underpayment penalty. The IRS was understanding when I explained it was my first year as trustee, but it's definitely something to watch out for. Has anyone here dealt with trusts that have income from multiple states? I'm trying to figure out if I need to make estimated payments in each state where we have rental properties or if there's some kind of reciprocity agreement I should know about.

This is such a comprehensive discussion! As someone who's been managing trust taxes for about 3 years now, I wanted to add a few practical tips that might help others: First, when setting up EFTPS for your trust, make sure you have the original trust document handy - they sometimes ask for specific language from the trust agreement to verify your authority as trustee. Also, if you're managing multiple trusts, you'll need separate EFTPS enrollments for each one, which can take up to 2 weeks each. For state payments, I've found that keeping a spreadsheet with each state's specific requirements is invaluable. Some states require you to indicate "trust" in a specific field during registration, while others automatically detect it from your EIN format. One thing I learned recently is that some states (like Georgia and North Carolina) have switched to new online systems in the past year, so if you set up accounts a while ago, you might need to re-register. Always double-check that your payments are going through correctly, especially after any system updates. Also, for anyone dealing with irrevocable trusts specifically - some states have different online payment procedures for irrevocable vs. revocable trusts, so make sure you're selecting the right trust type during registration to avoid any complications down the road.

I actually went through this exact situation last filing season! Had closed my Credit Karma account after getting a new credit monitoring service, then realized I needed it for my refund advance. Want to know what worked? I called their dedicated tax support line (not the regular customer service) and explained my situation. They were able to process a special exception that allowed the advance to be sent to my external bank account instead of requiring an active Credit Karma account. Took about 3 days longer than normal, but I got my advance without having to reopen anything. Worth asking about!

This is really helpful information from everyone! As someone who works in financial services compliance, I can add that the key issue here is that refund advances are technically short-term loans secured by your expected tax refund. When you close your Credit Karma account, you're essentially terminating the lending relationship that makes the advance possible. However, @Sofia Perez's experience with the dedicated tax support line is interesting - it suggests Credit Karma may have developed workarounds for this exact scenario since it probably happens frequently during tax season. I'd recommend trying that route first before switching to a different tax service, especially since your return is already in processing. The special exception process she mentioned sounds like it could save you from having to start over with a new provider.

One thing nobody's mentioned yet is that your basis in S corp stock can also be affected by the company's debts. If the S corp takes on debt that you personally guarantee, that can increase your basis, which might allow you to take more tax-free distributions or deduct more losses. But be careful with this - the IRS looks closely at debt basis, and you need proper documentation showing you're genuinely at risk. I learned this the hard way during an audit!

Does anyone know if taking a lower salary and higher distributions from my S corp is still a valid tax strategy? I've heard mixed things about the IRS cracking down on this.

I experienced this exact same issue two weeks ago! Got my approval text at 3:47 PM on a Tuesday and the funds didn't hit my card until 8:23 AM the next morning. What really helped me was calling the Pathward number directly (like Ava mentioned) - they were way more transparent than HR Block's customer service. The rep told me that starting this tax season, they moved from real-time processing to batch processing that runs overnight between 2-6 AM. She explained it's partly due to new anti-fraud measures but also because the volume of advance requests has tripled compared to last year. My advice: stop refreshing your account every few minutes (I know, easier said than done!) and just check first thing tomorrow morning. The money will be there. I also recommend screenshotting your approval text just in case, though I didn't end up needing it. The silver lining? My actual refund came exactly when predicted, so this delay doesn't seem to affect the main refund timeline at all.

This is exactly what happened to me last week! Got approved around 2:30 PM and was checking my card obsessively until I finally gave up and went to bed. Woke up the next morning and boom - there was my $800 advance sitting in my account. What I learned from talking to both HR Block and Pathward: they've definitely changed their system this year. The rep at Pathward was super helpful and explained that they now process these in overnight batches to comply with new banking regulations. She said most people see their funds between 6-9 AM the morning after approval. The frustrating part is that HR Block's marketing still makes it sound instant, but their fine print apparently covers them for up to 24 hours. I think they really need to update their messaging because "instant" and "next business day" are very different things when you're counting on that money! My suggestion: set a phone alarm for 7 AM tomorrow and check then. Save yourself the stress of refreshing all night like I did. The money will be there! 💰

Adding to all the great advice here - if you're still struggling to locate your capital loss carryover after trying these methods, don't overlook checking your state tax return if you filed one. Many states require their own Schedule D or capital gains forms, and sometimes the carryover calculations are clearer on the state forms than the federal ones. Also, if you're planning to use a different tax software next year (maybe switching away from TurboTax), make sure to have your exact carryover amounts ready beforehand. Each software handles the import of prior year information differently, and some don't automatically pull carryover data from other tax preparation programs. Having those numbers written down will save you from having to dig through documents again when you're in the middle of preparing your 2025 return. One last tip - if you end up finding multiple worksheets or conflicting numbers in your tax documents, always go with the amounts that appear on the actual filed forms (like Schedule D) rather than preliminary worksheets or drafts that might still be in your tax software folders. The filed version is what the IRS has on record and what you'll need to be consistent with going forward.

I'm dealing with a similar capital loss carryover situation, and this thread has been incredibly helpful! I just wanted to add one more resource that might help others - if you're a visual learner like me, the IRS has some really good video tutorials on their YouTube channel that walk through Schedule D and capital loss carryovers step by step. I found their "Understanding Capital Gains and Losses" video particularly useful because it shows you exactly what each line on Schedule D means and how the calculations flow from one section to another. Sometimes seeing it explained visually makes way more sense than trying to parse through the written instructions. Also, for anyone who might be in a rush to find their carryover amount, I'd recommend starting with the simplest approach first - if you filed electronically, most tax software providers are required to give you access to your tax documents for at least a year after filing. Before paying for document retrieval services or spending hours on hold with the IRS, try logging into your tax software account one more time and look for sections like "Prior Year Returns," "Tax Document Archive," or "Download Returns." Sometimes these links are buried in account settings rather than prominently displayed on the main dashboard.