I did owner financing for my house in 2022 and the tax part wasn't that bad. Just make sure you have a proper loan agreement drawn up by a real estate attorney. Mine cost about $800 but worth every penny since it covered all the legal requirements and proper disclosures. For taxes, my accountant had me report it as an installment sale on Form 6252. The down payment and principal payments aren't taxable as long as they fall under your Section 121 exclusion. The interest gets reported as income on Schedule B each year.

This is such valuable information everyone! As someone who's been thinking about owner financing but was intimidated by the tax complexity, this thread has been incredibly helpful. One additional consideration I learned from my real estate agent - make sure you're comfortable being a lender for the full term of the loan. Unlike selling traditionally where you get all your money upfront, with owner financing you're tied to that buyer for potentially 15-30 years. If they default, you might have to go through foreclosure proceedings to get your property back. Also, consider the opportunity cost - that money you would have received from a traditional sale could potentially be invested elsewhere. Make sure the interest rate you're charging compensates for both the risk you're taking and any potential investment returns you're giving up. The tax advantages are great, but they shouldn't be the only factor in your decision.

I went through this exact same issue earlier this year! The phone verification problem is incredibly common for international filers. Here's what I learned from my experience: The ID.me system that the IRS uses for verification gets confused when your phone number changes, especially if you're filing from abroad. I tried the transcript by mail option first, but it took almost 3 weeks to reach me overseas. What finally worked was calling the IRS International Taxpayer Services line at (267) 941-1000 early in the morning (around 6 AM EST). The key is asking specifically for a "verification override" due to international filing status. Have your previous year's AGI, refund amount, and SSN ready. The agent was able to manually verify my identity and gave me immediate access to my transcripts without needing phone verification. They also noted my account as an international filer, which should prevent this issue in the future. Don't waste time with the regular customer service lines - they can't override the verification requirements. The international line agents have different tools and actually understand the challenges of filing from abroad. Total call time was about 90 minutes, but it saved me weeks of waiting.

I went through this exact same frustrating experience last month! The phone verification system is definitely broken for international filers. After weeks of trying everything, here's what finally worked for me: I called the IRS International Taxpayer Services line at (267) 941-1000 around 6:30 AM EST and asked specifically for a "manual identity verification override" due to my international filing status. Had my 2023 AGI, exact refund amount, SSN, and previous year's return ready. The agent was able to completely bypass the phone verification requirement and gave me immediate access to my transcripts. She also added what she called a "verification exemption note" to my account specifically for international filers, which should prevent this issue from recurring. Key tips: Don't use the regular customer service line - they can't override verification. Don't create a new ID.me account - it just creates more system conflicts. And definitely don't keep trying the online verification repeatedly as it can temporarily lock your account. The whole call took about 85 minutes, but getting immediate transcript access was so much better than waiting weeks for international mail delivery. The international agents actually understand our unique filing challenges and have the tools to help. Hang in there - there is a solution, you just need to reach the right department!

This is so frustrating! I've been dealing with Error Code 6000 for weeks too. The IRS website is absolutely broken and their phone system is a nightmare. I finally got some relief by using a combination of approaches - first I tried the taxpayer advocate service number someone mentioned (877-777-4778) and they were actually helpful in explaining what was going on. Turns out it was an identity verification issue on my end too. I also ended up using one of those callback services to actually reach a human agent without spending my entire day on hold. It's ridiculous that we have to jump through so many hoops just to check our own refund status, but at least there are workarounds. Don't give up - your $4,300 refund is worth fighting for! The system is broken but there are ways around it.

I've been dealing with Error Code 6000 for about 2 months now and it's incredibly frustrating! The "Something Went Wrong" message is so vague and unhelpful. After reading through all these comments, it sounds like there are several potential solutions to try: 1. The taxpayer advocate service (877-777-4778) seems to be much more accessible than the regular IRS lines 2. Making an appointment at a local IRS office for in-person identity verification 3. Using the "Where's My Refund" tool as a workaround even though it's less detailed 4. Some people mentioned callback services like claimyr.com to avoid the hold times The most common cause seems to be identity verification issues - even something as small as one wrong digit in your address can lock you out completely. It's amazing how broken their system is, but at least there are ways to work around it. @Ava Martinez - definitely try calling the taxpayer advocate number first thing in the morning. That seems to be when people have the most success getting through. Good luck getting your $4,300 refund sorted out!

Pro tip: If you're having trouble getting through on the phone, try contacting the Taxpayer Advocate Service. They're an independent organization within the IRS that helps taxpayers resolve problems. They might be able to help you cancel the appointment or at least point you in the right direction. Here's their number: 1-877-777-4778. Good luck!

@Nina Fitzgerald I actually went through this exact same situation a few months ago! The phone number everyone's mentioning (1-800-830-5084) is definitely your best bet. I'd recommend calling right when they open at 7 AM - I got through in about 15 minutes that way. One thing I learned: make sure you actually NEED to cancel vs. just reschedule. If you still need identity verification but just can't make that specific time, rescheduling might be easier than starting the whole process over. The agent will ask you why you're canceling, so be ready to explain. Also, don't stress too much about it - the IRS agents are usually pretty understanding about appointment changes. Just have your SSN and the appointment confirmation info ready when you call. You got this! 👍

Has anyone here actually claimed 0 on the new W4? I know the form changed but there must be a way to do it. I always claimed 0 when I was single and never owed a penny.

I went through something very similar after my divorce! The key thing to remember is that your W4 is just for withholding calculations - it doesn't lock you into anything when you actually file. Here's what worked for me: I selected Head of Household on my W4 and claimed my child in Step 3 for the child tax credit. But since I was burned by owing taxes before, I also added $75 per paycheck in Step 4(c) for extra withholding. The extra withholding was a lifesaver - I actually got a small refund instead of owing. You can always adjust it later if it's too much, but having that buffer gave me so much peace of mind throughout the year. Also, definitely use the IRS Withholding Estimator around mid-year to see if you're on track. It's free and will tell you if you need to adjust anything before December. You've got this! The first year post-divorce taxes are always the trickiest to figure out.