I went through this exact situation three years ago with two different employers who never sent W-2s. Here's what I learned that might help you: First, definitely wait until mid-February before filing Form 4852 - I made the mistake of filing too early my first time and one W-2 showed up literally the day after I submitted my return. The IRS had to process an amended return which delayed everything by months. For your estimates, be as precise as possible using whatever documentation you have. I used my final pay stubs, but also cross-referenced with my bank deposits to make sure the numbers made sense. If you have any benefits deductions (health insurance, 401k, etc.), don't forget to account for those in your calculations. The IRS form asks you to explain your efforts to get the W-2, so document everything - dates you called, emails you sent, even if you tried contacting HR or payroll departments. I kept a simple log and it really helped when they asked for verification later. My refund took about 4-5 weeks, which wasn't much longer than normal. The IRS did send me a CP2000 notice about 8 months later when one employer finally reported my wages, but since my estimates were pretty close (within $100), there was no penalty or additional tax owed. Don't stress too much about getting audited - Form 4852 is a legitimate tax form that exists specifically for this situation. As long as you're making honest estimates based on available information, you'll be fine. The IRS understands that some employers are just terrible about sending out tax documents on time.

I went through this exact situation last year and can definitely share some insights that might help ease your concerns. I had one employer who completely ghosted me on W-2 requests, and I successfully used Form 4852 to file my taxes. Here's what worked for me: I gathered every piece of documentation I could find - pay stubs, bank deposit records, even my offer letter that showed my salary. I used my last pay stub from December which had my year-to-date totals, but I also cross-checked those numbers against my bank deposits to make sure everything lined up. The most important thing is being thorough with your documentation of attempts to get the W-2. I created a simple timeline: "January 15 - emailed HR, no response. January 22 - called payroll, left voicemail, no callback." etc. The IRS wants to see you made a genuine effort first. My return was processed normally and I got my refund in about 3.5 weeks, which was actually faster than some of my friends who had all their proper forms! About 6 months later I did receive a letter from the IRS asking to verify some information, but it was just standard verification since the employer had finally submitted my W-2. The numbers were within $30 of my estimates, so there were no issues or penalties. Don't let the missing W-2s keep you from filing - Form 4852 exists specifically for this situation and thousands of people use it successfully every year. Just be as accurate as possible with your estimates and document your efforts to get the proper forms. The IRS is generally very understanding about legitimate Form 4852 situations.

Don't panic - these IRS crypto letters are becoming more common, but they're often wrong about the amounts owed. The key thing to understand is that the IRS typically assumes $0 cost basis for any crypto transactions they can't fully trace, which massively inflates what they think you owe. Since you got a 6173 letter, you absolutely must respond within 30 days. Here's what I'd recommend: 1. Gather ALL your transaction records from every exchange/wallet you used 2. Calculate your actual cost basis for each transaction (what you originally paid for the crypto) 3. Document any crypto-to-crypto trades with proper fair market values at the time of each trade The $6,800 they're claiming is likely based on incomplete information. If you bought $15,000 worth of crypto and it appreciated before you traded it, your actual taxable gain would be much less than what they're assuming. You have three options: pay the assessment, file an amended return with correct calculations, or dispute it entirely with documentation. Given the amount involved, it's probably worth consulting with a tax professional who specializes in crypto taxation - they can often get these assessments reduced significantly or eliminated entirely. Don't just pay it without fighting back. The IRS crypto enforcement is aggressive but often inaccurate.

I went through something very similar last year and want to share what worked for me. The IRS sent me a letter claiming I owed $4,200 for crypto transactions, but after properly documenting everything, I ended up owing only $380. The biggest mistake people make is not keeping detailed records of their cost basis. Every time you buy crypto, that purchase price becomes your cost basis. When you trade or sell, you calculate gains/losses based on the difference between your cost basis and the fair market value at the time of the transaction. Here's what saved me: I went back through all my exchange accounts (Coinbase, Kraken, Binance) and downloaded every single transaction CSV file. Then I traced each coin from purchase to sale/trade. The IRS was assuming I got my crypto for free (zero cost basis) for transactions they couldn't fully trace. Since you have a 6173 letter, you MUST respond within 30 days. Don't ignore it. I'd recommend either using one of the crypto tax software tools mentioned here or hiring a CPA who specializes in crypto. The upfront cost is way less than paying an inflated IRS assessment. Also keep in mind that crypto-to-crypto trades are taxable events, but you can often have losses that offset gains. The IRS letter probably doesn't account for any losses you might have had.

This discussion has been incredibly helpful for someone like me who's dealing with a very similar situation! I lost around $550 on some defense contractor stock options through Robinhood that I purchased based on expected election outcomes, and I was completely confused about how to handle this on my taxes. The key insight from this thread that really clicked for me is the distinction between the "vehicle" used for trading versus the "motivation" behind it. Even though my trades were essentially election-based predictions, since I used a legitimate brokerage (Robinhood) to purchase actual options contracts, the IRS will treat these as capital losses for Schedule D purposes - not gambling losses. This is actually much better news than I expected! Being able to deduct up to $3,000 of capital losses against ordinary income is significantly more favorable than gambling loss rules, where deductions are limited to gambling winnings and require itemizing. I'll make sure to keep all my Robinhood statements organized and watch for my 1099-B form when it arrives. For anyone else who made election-motivated trades through legitimate brokerages, don't let the political aspect confuse you about the proper tax treatment - focus on the actual financial instruments you traded. Thanks to everyone who shared their experiences and knowledge here!

Based on all the great information shared in this thread, it sounds like you're in good shape tax-wise! Since you used Robinhood to trade actual options contracts (not direct election betting), these will be treated as capital losses on Schedule D rather than gambling losses. This is actually beneficial for you because: - You can deduct up to $3,000 of capital losses against your ordinary income - Any excess losses can be carried forward to future years - You don't need to itemize deductions to get this benefit Your $450 loss should help reduce your 2025 tax liability. Just keep all your Robinhood documentation and wait for your 1099-B form in early 2025. The key point everyone's made here is spot-on: the IRS cares about the financial instrument you traded (options through a legitimate brokerage), not your motivation for trading it (election predictions). So while the election outcomes didn't go your way, at least Uncle Sam will give you a small break on your taxes!

I'm in the middle of my OIC process and the waiting is brutal!!! Submitted everything 5 months ago and still showing as "pending" whenever I check the status online. Does anyone know if calling actually speeds anything up?

I went through the OIC process last year and it was one of the most stressful but ultimately rewarding experiences dealing with the IRS. My situation was similar to yours - owed about $38,000 due to business failure and medical issues. A few key things I learned: First, be absolutely honest and thorough with your financial documentation. The IRS will verify everything, and any inconsistencies will delay or kill your application. Second, don't underestimate how long it takes - mine took 14 months from start to finish, with multiple requests for additional paperwork. I did use a tax professional for the initial application, which cost me $3,500, but it was worth it for the peace of mind. They helped me calculate a realistic offer amount ($11,200 for my $38,000 debt) and made sure all the forms were filled out correctly. One thing nobody tells you - during the application process, the IRS stops collection activities, which was a huge relief. No more threatening letters or calls. Just be prepared for the emotional rollercoaster of waiting months without updates. The acceptance letter arriving was one of the best days of my life. Don't give up hope - if your financial situation truly warrants it, the program can work. Just be patient and meticulous with your paperwork.

One thing to keep in mind that hasn't been mentioned yet - if you're planning to do this kind of conversion again in the future, consider the timing more strategically. The IRS has specific rules about how long you need to live in a property as your primary residence to qualify for the Section 121 exclusion (up to $500K gain tax-free for married couples) when you eventually sell. Since you only lived there for 3 months before converting to rental use, you likely won't qualify for this exclusion. But if you had lived there for at least 2 out of the last 5 years before selling, you could potentially get some significant tax benefits on the sale. For your current situation though, definitely keep all those renovation receipts organized by date and make sure you have clear documentation of when the property transitioned from personal to rental use. Consider setting up a separate folder or digital system just for this property's tax documents - you'll need them for years to come for depreciation calculations and eventually when you sell.

This is a really comprehensive discussion! As someone who's been through a similar conversion process, I want to emphasize one practical tip that saved me a lot of headaches: create a detailed spreadsheet right now with three columns - "Expense Description", "Date", "Amount", and "Category" (Personal Use vs Rental Use vs Post-Conversion). Go through all your receipts and categorize everything based on when it was purchased relative to your move-out date and when you started marketing the property. This will make your tax preparation much easier and provide clear documentation if you're ever audited. Also, don't forget about the smaller expenses that add up - things like cleaning supplies, light bulbs, basic maintenance items purchased after you moved out but before tenants moved in. These are often overlooked but can be immediately deductible as repairs/maintenance expenses. One last thing - if you're doing your own taxes, consider getting at least a consultation with a CPA who specializes in rental properties for this first year. The conversion from personal residence to rental property has some unique complexities that are worth getting right from the start. The consultation fee will likely pay for itself in properly maximized deductions and avoided mistakes.