I went through this exact same confusion last year with my first Roth IRA! The terminology in tax software can be really intimidating, but it's simpler than it seems. Your "Roth IRA basis" is just the total amount of your own money (after-tax dollars) that you've put into Roth IRAs over your lifetime. Since you just started with that $6,500 contribution for 2023, your basis is exactly $6,500. For the year selection issue - this happens literally every tax season! Software companies are always behind on updates. Selecting "None" is totally fine and won't cause any problems with the IRS. They get the correct information from your IRA custodian anyway. A few quick answers to your other questions: - Yes, enter $6,500 for "basis of contributions" since that's your total contribution history - Yes, enter $0 for "basis of conversions" since you didn't convert from another IRA type - Make sure you're reporting this as a 2023 contribution even though you're filing in 2024 The good news is that Roth contributions don't affect your taxes this year since they're not deductible, so even if you had to guess on some of these fields, it wouldn't change what you owe or get refunded. You're doing great by maxing out your contribution!

I'm dealing with the exact same situation! Just opened my first Roth IRA in December 2023 and contributed $4,000. H&R Block's interface is definitely confusing for newcomers. Based on what I've learned from researching this (and confirmed by calling my IRA custodian), here's what I found: - Your Roth IRA basis is simply the total amount you've contributed with after-tax money. So for you, it's $6,500. - The "year opened" issue is super common - tax software is always behind. I ended up selecting "None" and adding a note that I opened it in 2023. - For "basis of contributions," yes, enter your $6,500 since that's your total contribution history. - For "basis of conversions," definitely $0 since you didn't convert from a traditional IRA. One thing that helped me feel better about this: my IRA custodian explained that they'll send Form 5498 to the IRS in May with all the correct information anyway, so the software limitations won't cause problems. Also remember that since Roth contributions aren't tax-deductible, these entries won't change your refund or tax owed - they're just for IRS record-keeping to track your basis for future withdrawals. You're doing great by maxing out your contribution in your first year!

I went through the same thing last year! "Unpostable" basically means there's a mismatch or error that's preventing your return from being processed normally. Most common causes are name/SSN not matching Social Security records, missing prior year return, or identity verification needed. The IRS should send you a notice explaining the specific issue within 2-4 weeks. In the meantime, try calling back and asking for the specific unpostable code - that'll give you a better idea of what's wrong. Hang in there, it's stressful but fixable! 🙏

Hey Eleanor! I totally feel your stress about this - waiting for your refund when you need it for housing is the worst. "Unpostable" usually means there's a data mismatch preventing normal processing. Could be something simple like your name not matching exactly with Social Security records, or a missing signature. When you call back tomorrow, definitely ask for the specific unpostable code number - it'll tell you exactly what's wrong instead of just getting the generic explanation. Also try calling right when they open at 7am, way shorter wait times. Keep checking your mail too, they should send a detailed notice within 2-3 weeks. Hang in there, most of these issues are fixable once you know what's causing it! 💙

I just went through this exact same frustrating experience with IND-031-04! After being rejected 4 times myself, I finally figured out what was happening. The IRS had made an automatic adjustment to my 2023 return that I had no idea about - they corrected a calculation error that changed my AGI by $156. What saved me was pulling my Account Transcript (not the Return Transcript) from the IRS Get Transcript tool. Look for any transaction codes in the 290 series that occurred after your original filing date - those are adjustments. The dollar amounts next to those codes show how much your AGI was adjusted up or down. It's absolutely maddening that they don't send you any notification when they make these changes, but then expect you to somehow know the adjusted amount for e-filing verification. Once I used the corrected AGI from my Account Transcript, TurboTax accepted my return immediately. Don't give up on e-filing - you just need to find what the IRS actually has on file versus what you originally reported. The paper filing route will take months for your refund!

I went through this exact same rejection nightmare with IND-031-04 just two weeks ago! After getting rejected 5 times, I was ready to throw my computer out the window. What finally solved it was realizing that the IRS had made a small adjustment to my 2023 return that I never knew about. Here's my step-by-step solution that worked: 1. Go to IRS.gov and use the "Get Transcript" tool 2. Request your **Account Transcript** for 2023 (NOT the Return Transcript - this was my mistake initially) 3. Look for any transaction codes starting with "29" that have dates after you originally filed 4. These codes show adjustments the IRS made to your return - could be math corrections, missing forms, etc. 5. Calculate your new AGI by adding/subtracting these adjustment amounts from your original AGI In my case, they had corrected an error with my retirement contribution deduction that increased my AGI by $73. Once I used that adjusted amount in TurboTax instead of my original AGI, it went through immediately. The most frustrating part is that the IRS doesn't notify you when they make these adjustments, but then expects you to somehow know about them for e-file verification. It's like they want us to fail! Don't give up on e-filing though - your refund will come much faster than mailing a paper return.

I went through this same situation a couple years ago and totally understand the confusion! The good news is that TurboTax makes it pretty straightforward once you know where to look. You definitely need to report all interest income, even those tiny amounts under $10. Here's exactly what to do: In TurboTax, navigate to the "Federal Taxes" tab, then "Wages & Income," and look for "Interest and Dividends." Click "Start" next to it, and you'll see an option to add interest income manually. For each account, you can enter the bank name and the exact interest amount. To find these amounts, log into your online banking - most banks show the total interest earned for the year either on your December statement or in a separate "Tax Information" or "Year-End Summary" section. Since you mentioned it's the last thing holding you up, don't stress too much about getting it perfect to the penny. The IRS understands these are small amounts and mainly wants to see that you're making an honest effort to report all taxable income. You're doing the right thing by including them!

I just finished dealing with this exact situation last week! Had around $12 total interest spread across three different accounts - two savings and one money market. None of them sent 1099-INT forms since each was under $10. Here's what I did that worked perfectly: First, I logged into each bank's website and downloaded my December statements. Every bank I checked had the year-to-date interest clearly listed, usually in a box or summary section on the statement. Some banks also have a dedicated "Tax Documents" section in online banking that shows annual totals even when they don't mail forms. In TurboTax DIY, go to Federal Taxes > Wages & Income > Interest and Dividends. There's definitely an option to manually enter interest without having a 1099-INT. I entered each bank separately with the exact name and amount - figured it was better to be thorough even though the amounts were tiny. The whole process took maybe 10 minutes once I had the exact numbers from my statements. Don't let this small detail stress you out - you're being responsible by reporting everything, and the IRS appreciates taxpayers who make the effort to be compliant even on small amounts!

Did anyone address the OPs question about changing withholdings to "deduct mortgage interest month by month"? My understanding is you can adjust your W-4 to have less tax withheld based on ANTICIPATED deductions, but you're taking a risk if you end up not itemizing.

Great question! I went through this exact same confusion when I bought my first home last year. Here's what I learned after making some mistakes: The key thing everyone's touching on is that you need to compare your TOTAL itemized deductions against the standard deduction ($27,700 for married filing jointly in 2023). With your $425k mortgage, you'll probably pay around $20,000-25,000 in interest the first year (depending on your rate), plus property taxes, but that might still not exceed the standard deduction. Regarding withholding adjustments - yes, you can reduce your withholdings through your W-4 if you anticipate itemizing, but I'd be conservative. Maybe adjust for only 75% of what you think you'll save, because if you end up taking the standard deduction instead, you could owe money at tax time. My advice: Run the numbers with a tax calculator first, then make any withholding adjustments gradually. Better to get a refund than owe penalties!