anyone else notice how the dates are actually better than last year? usually theres like a 21 day wait but these are showing 10-14 days

Thanks for sharing this detailed schedule! As someone who's been through the tax refund waiting game multiple times, I appreciate having concrete dates to work with. One thing I'd add is that even with these official timeframes, it's worth checking your "Where's My Refund" tool on the IRS website regularly since individual circumstances can still cause delays beyond what's shown here. For those with EITC/CTC, the March delay is frustrating but it's actually mandated by the PATH Act - they legally have to hold those refunds until mid-February before they can even start processing them, so March is unfortunately realistic. Also heads up that if you're claiming any new credits or deductions this year, or if there are any discrepancies with prior year info, you might see additional delays even beyond these schedules. The IRS has definitely been more thorough with their reviews lately.

Isn't there like some sort of exception for family rentals? I remember reading somewhere that the IRS treats them differently. Someting about "personal use" vs "business use" of the property if you don't charge market rates? Also, what if you only rent for part of the year like the OP said? Do u have to prorate everything?

I went through this exact same situation two years ago when I rented my old house to my in-laws. Here's what I learned the hard way: You absolutely need to report ALL the rental income you received (the mortgage payments) on Schedule E, even though you're only charging costs. The IRS doesn't care that you're not making a profit - income is income. The tricky part with family rentals is proving it's a legitimate business activity. Since you're charging below market rate, make sure you document everything properly - written lease agreement, regular payment schedule, receipts for all expenses. Without proper documentation, the IRS might reclassify it as personal use and limit your deductions. For the depreciation issue others mentioned - yes, you MUST calculate it even if it creates a loss on paper. TurboTax will guide you through this, but you'll need to know the fair market value of the property when you converted it to rental use (not what you originally paid for it). One more tip: keep track of the days it was actually rented vs vacant. Since you said this was only for 2024, you'll need to prorate all your annual expenses (insurance, property taxes, etc.) based on the actual rental period. The good news is that even at cost, you'll likely show a paper loss after all deductions, which can offset other income on your return.

The 941 Schedule B has caused me so many headaches! One thing I learned the hard way is that if you're a semi-weekly depositor and file Schedule B incorrectly, the IRS doesn't just send a nice reminder - they hit you with failure-to-deposit penalties. For the original question - the date that matters for Schedule B is 100% when employees have access to their funds (payday). I use ADP for payroll and they helped explain that I should list the payday date on Schedule B, not when I process payroll or when I make the deposit. Another tip - if you use the Electronic Federal Tax Payment System (EFTPS), it shows your tax payment history with "settlement dates." Don't use those dates on Schedule B either. Those are when the money moved, not when the liability was incurred.

I'm glad this thread cleared up the Schedule B confusion! As someone who handles payroll for multiple small businesses, I've seen this exact issue come up repeatedly. One additional point that might help others - make sure your payroll software is configured to report the correct payday dates, not processing dates, especially if you're generating any automated reports for tax purposes. I've found it helpful to create a simple spreadsheet tracking our actual paydays alongside deposit dates and due dates. This makes it much easier when completing Schedule B and helps avoid the confusion between these different dates. The key takeaway from everyone's responses is crystal clear: use the date employees actually receive their wages, period. Thanks to everyone who shared their expertise, especially the former IRS agent - that perspective was invaluable!

One thing I'd add to all the great advice here - if you're dealing with an inherited property loss, consider whether you might have any other capital gains this year that could offset the loss. I inherited my grandmother's house and sold it at a $40k loss, but I also had some stock gains from earlier in the year. The capital loss from the house sale completely offset those gains, saving me a significant amount in taxes. Also, if your loss is larger than what you can use this year (after offsetting gains and taking the $3k against ordinary income), remember that unused capital losses carry forward indefinitely. So even if you can't use the full $55k this year, you can keep applying $3k per year against ordinary income until it's used up, or use it to offset future capital gains. Make sure to keep detailed records of how much loss you've used each year so you can track your remaining carryforward balance. The IRS doesn't send you reminders about this!

Great question! I dealt with a very similar situation when I inherited my aunt's property last year. The key thing to understand is that your stepped-up basis is indeed the $850k appraised value at the date of death, so you absolutely can claim that $55k as a capital loss. One important detail to double-check: make sure you're including ALL allowable selling expenses when calculating your loss. Beyond the obvious ones like realtor commissions and closing costs, you might also be able to deduct things like title insurance, escrow fees, any inspection costs you paid for, and even some of the minor repairs if they were specifically done to facilitate the sale. I'd recommend getting a copy of IRS Publication 544 (Sales and Other Dispositions of Assets) - it has a section specifically about inherited property that's really helpful. The loss gets reported on Form 8949 first, then carries over to Schedule D. Also worth noting: if this is your first time dealing with inherited property taxes, consider having a tax professional review everything before you file. The rules can be tricky, and you want to make sure you're maximizing your allowable deductions while staying compliant.

Does anyone know how vehicle deductions work for rideshare drivers? I drive for Uber part-time and I'm not sure if I should be tracking actual expenses or just doing the standard mileage rate.

Great question! As someone who's navigated sole proprietor deductions for a few years now, here are some often-overlooked write-offs that could save you money: **Professional development**: Courses, certifications, conferences, and books related to your business are fully deductible. This includes online courses that improve your skills. **Bank fees**: Monthly business account fees, transaction fees, and credit card processing fees add up but are often forgotten. **Communications**: Your business phone line, internet service (business portion), and even your cell phone if you use it for business calls. **Subscriptions**: Business software, industry publications, professional memberships, and even some streaming services if you use them for business research. **Travel expenses**: Not just airfare and hotels, but also parking, tolls, tips, and 50% of meals while traveling for business. One thing to be careful about - make sure you can clearly demonstrate business purpose for any deduction. The IRS looks for expenses that are "ordinary and necessary" for your specific type of business. Keep detailed records and receipts for everything, especially for mixed-use items like your computer or vehicle. Also consider setting up a separate business bank account if you haven't already - it makes tracking expenses much cleaner come tax time!