Has anyone used TurboTax to report forex losses? I tried entering mine but the software keeps asking me for a 1099-B which I don't have for my forex trades.

For your $135 forex loss, you'll most likely report it on Schedule D and Form 8949 since you only made a few trades as a casual investor. You'll need to list each trade with the date acquired, date sold, proceeds, and cost basis. If your broker doesn't provide a 1099-B (which is common for forex), you'll need to track this yourself. The good news is that your loss can offset other capital gains, and if you don't have any gains, you can deduct up to $3,000 against ordinary income. Any excess carries forward to future years. Make sure to keep detailed records of all your trades including currency pairs, amounts, exchange rates, and dates. The IRS expects you to report all trading activity even without official broker forms.

This is such a comprehensive discussion! As someone who's been hesitant about setting up government accounts online, reading through everyone's experiences has been really eye-opening. What strikes me most is how consistent the advice is across different people's experiences - everyone who's actually gone through the process seems to agree that setting up both accounts now is worth it. The timing differences alone (Login.gov in under an hour vs ID.me taking days) make a compelling case for getting ahead of this. I'm particularly interested in the identity protection angle. It sounds like creating these accounts proactively really does add a meaningful layer of security, especially with all the tax fraud stories we keep hearing about. The idea of establishing your digital identity before someone else potentially could is pretty compelling. One question I haven't seen addressed much - for folks who have both accounts set up, do you find yourself preferring one system over the other in terms of actual day-to-day usability? I know Login.gov is supposed to be more user-friendly, but I'm curious about real-world experiences navigating both platforms. Either way, I'm definitely planning to follow the weekend setup plan that's emerged from this thread. Better to spend an hour now than deal with verification headaches during tax season!

This has been such an informative thread! As someone who's been dealing with tax prep anxiety, reading everyone's detailed experiences has really helped clarify what seemed like a confusing situation. The overwhelming consensus to set up both accounts now makes perfect sense, especially with the timing differences everyone mentioned - Login.gov being approved in under an hour versus ID.me potentially taking several days during busy periods. That alone could save so much stress during filing season. I'm really glad you brought up the "digital flag planting" concept for identity protection. With all the tax fraud happening lately, establishing your identity in these systems proactively seems like such a smart defensive move. Even if it's not foolproof protection, it's definitely better than leaving that vulnerability open. The step-by-step approach that's emerged from this discussion is perfect: 1. Start with Login.gov (faster approval) 2. Use consistent email across both platforms 3. Have documents ready beforehand 4. Enable 2FA immediately 5. Screenshot successful verifications What really sold me is hearing from multiple people about the peace of mind factor. Tax season is already stressful enough without adding account verification delays to the mix. Plus the bonus of Login.gov working across other federal services means immediate value even before any IRS transition. Thanks for starting this discussion - it's exactly the kind of forward-thinking question that prevents headaches later!

I'm so sorry you're dealing with this - fraudulent charges are incredibly frustrating, especially when you can't reach anyone to help! Based on all the great advice in this thread, I'd definitely recommend the multi-pronged approach that several people have had success with: 1. Try calling at 7 AM sharp using the "lost card" option instead of fraud - this seems to be the most reliable way to actually reach a human 2. While you're doing that, file a CFPB complaint online at consumerfinance.gov - companies are required to respond to these within 15 days and it really lights a fire under them 3. Document everything with screenshots of the fraudulent charge before it potentially disappears from your account history The fact that multiple people here have successfully recovered their money using these exact strategies gives me hope for your situation! Don't let them keep your $213.67 - you have real legal protections under federal law and these companies are counting on people just giving up. Stay persistent and hit them from multiple angles simultaneously. You've got this!

I'm so sorry you're going through this frustrating situation! Reading through all the excellent advice here, it sounds like you have multiple proven strategies to try. The combination approach that several people have had success with seems to be your best bet: 1. Call at 7 AM sharp using the "lost card" option (this bypasses the broken fraud queue) 2. File a CFPB complaint at consumerfinance.gov while you're trying to call 3. Screenshot everything now before it disappears from your account What really stands out to me is how many people have actually recovered their money using these exact methods. The CFPB complaints especially seem to get fast results since companies have to respond to federal regulators within 15 days. Don't give up on that $213.67! Under the Electronic Fund Transfer Act, you have real legal protections against unauthorized charges. These companies are counting on people just walking away from their money, but you have multiple people here proving that persistence with the right approach really works. Keep us updated on how it goes - your success story could help the next person dealing with this same nightmare!

Keep in mind that even if you manage to avoid state income tax, the federal government will still take 24% right off the top for federal income tax withholding. And if you win big enough to put you in the highest tax bracket (37%), you'll owe the difference when you file your federal return. For really big jackpots, the tax hit can be massive. Better to have a plan before you claim the prize.

The same general principles do apply to casino winnings when traveling! You'll typically owe taxes to both the state where the casino is located AND your home state, with credits available to prevent double taxation - just like with lottery winnings. However, there are some key differences to be aware of. Casinos will issue you a W-2G form for winnings over certain thresholds (usually $1,200 for slots, $1,500 for keno, $5,000 for poker tournaments), and they're required to withhold federal taxes immediately on larger wins. The state withholding rules vary just like with lotteries - some states take their cut right away, others don't. One thing that's different from lotteries is that casino winnings are often smaller but more frequent, so you might hit reporting thresholds more regularly if you're a frequent traveler/player. Also, some states have reciprocity agreements for casino winnings that they don't have for lottery winnings, so it's worth checking if your home state has any special deals with states you visit frequently. The resources mentioned in this thread like taxr.ai would definitely work for casino winnings too - they handle all types of gambling income, not just lottery winnings. Given how much you travel for work, it might be worth bookmarking those services just in case you hit it big somewhere!

Just got my CP21B notice this morning and was honestly panicking until I found this thread! Seeing everyone's experiences with the 2-3 week timeline is such a relief. I was worried something was seriously wrong with my return. Already signed up for direct deposit on WMR so hopefully that helps speed things up. That taxr.ai tool everyone's mentioning sounds really helpful too - might be worth the $5 just to stop checking WMR every hour like I have been 😅 Thanks @Freya for asking this question, clearly we're all dealing with the same stress! Good to know we're in this together 💪

Just got my CP21B notice on Monday and was totally freaking out until I found this thread! The 2-3 week timeline everyone's sharing is so reassuring - I was convinced something was wrong with my return. Already have direct deposit set up on WMR so fingers crossed it comes through quickly. That taxr.ai tool sounds super helpful too, might be worth the $5 just to get some concrete answers instead of obsessively refreshing WMR like I've been doing 😅 Thanks @Freya for posting this question, it's clear so many of us are in the same boat right now! This community is amazing for support during these stressful times 🙏