Just to add another perspective on documentation - if you're missing receipts but have bank statements or credit card records showing payments to contractors, that can work as backup documentation. I successfully claimed energy credits on an amended return using bank records plus the manufacturer's certification documents that came with my heat pump. One thing to keep in mind is that the IRS is generally more concerned with proving the equipment actually qualifies for the credit (energy efficiency ratings, proper certification) than having perfect receipts. If you can demonstrate through any combination of documentation that you purchased qualifying equipment and it was installed in your primary residence during the tax year you're claiming, you should be good. Also, don't forget that some improvements like smart thermostats or certain water heaters might qualify that people don't always think of as "energy efficient improvements." It's worth reviewing the full list of qualifying equipment for each tax year you're amending - you might find additional credits you hadn't considered!

This thread has been incredibly helpful! I'm in a similar boat - did a major energy efficiency overhaul of our house in 2022 and 2023 but completely missed filing Form 5695. We installed new windows, added insulation, and got a heat pump water heater. One thing I wanted to add that hasn't been mentioned yet - if you're planning to file amended returns for multiple years, be prepared for a long wait. I filed an amended 2022 return back in October and it's still processing. The IRS website says to allow 16+ weeks for paper amendments, and that seems accurate based on my experience. Also, for anyone worried about audits - I asked my tax preparer about this and she said energy credit audits are actually pretty rare unless the amounts claimed seem unusually high. The IRS is more focused on making sure people aren't double-dipping on rebates and tax credits for the same equipment. As long as you have reasonable documentation showing what you bought and when it was installed, you should be fine. One last tip - if you're using tax software to file the amendments, make sure it supports Form 5695 for the specific tax years you're amending. Not all software handles the form correctly for older tax years since the rules changed so much in 2023.

Don't overthink this. I've done Form 4852 twice for jobs that never sent W-2s. Just be reasonable with your estimates. The IRS mainly wants to see that you're reporting the income, not hiding it. For Fed withholding, I'd take what shows on bank deposits, add about 22% for taxes and withholdings to get gross, then figure about 12-15% of gross for fed withholding unless you're high income.

I went through this exact same situation two years ago! Here are a few additional tips that helped me: 1. Request a wage and income transcript directly from the IRS online at irs.gov. If your employer filed your W-2 electronically, it might show up there even if you never received the physical copy. This gives you the exact numbers instead of having to estimate. 2. Check your state's unemployment insurance website - sometimes they have wage records that can help you verify your quarterly earnings from that employer. 3. If you have any old email confirmations about direct deposits or pay notifications, those can help support your calculations. 4. Don't forget that if you had health insurance deductions, 401k contributions, or other pre-tax deductions, those need to be factored in when working backwards from your net pay to gross pay. The most important thing is to document everything you tried to do to get the actual W-2. Keep records of your attempts to contact the employer, any responses you got, and how you calculated your estimates. The IRS is generally understanding about these situations as long as you can show you made good faith efforts to get the correct information. Good luck with getting this sorted out!

Does anyone know if I can still claim the American Opportunity Tax Credit if my parents claim me as a dependent? My dad is insisting that since he claims me, HE gets the education credit, not me. But I'm the one who will be paying back the student loans...

I went through almost the exact same situation last year and completely understand the panic! The good news is that you likely did everything correctly. When you take out student loans to pay for qualified education expenses, the IRS treats this as if YOU paid those expenses - because ultimately, you're the one responsible for repaying the debt. So yes, you can absolutely claim education credits based on your 1098-T even though the tuition was paid with loans rather than out-of-pocket. However, I noticed in the comments that your 1098-T only has Box 2 filled out (amounts billed) rather than Box 1 (amounts paid). This is super common but means you need to be extra careful. You should only claim credits for the amount that was actually PAID during the 2024 tax year, not just what was billed. Check your student account statement to see exactly how much was paid in 2024 - this might be different from the $14,500 shown in Box 2 if some payments were made in different years or if there are payment plan timing differences. As long as you used the correct "paid" amount rather than just copying Box 2, you should be fine. Don't stress too much - this is one of the most confusing parts of student taxes and you're definitely not alone in feeling overwhelmed by it!

Has anyone considered the downside of the NUA strategy? Your mom would be keeping a HUGE concentration in a single stock (BOA) which carries significant risk. If BOA stock tanks after she takes the distribution but before she sells, she could lose a lot of money. The tax savings from NUA treatment has to be weighed against the risk of being so heavily invested in one company. My father-in-law did the NUA strategy with his GE stock in 2016, thinking the tax savings was worth it. The stock then crashed, and he lost way more than the tax savings would have been. Maybe consider doing NUA for just a portion of the BOA shares to reduce concentration risk?

One critical detail that hasn't been fully addressed - your mom needs to be very careful about the timing of when she actually retires and takes the distribution. The NUA strategy requires that the entire 401(k) balance be distributed within the same tax year as a "triggering event" like separation from service. If she's planning to retire mid-year, she might want to consider whether it makes sense to retire at the beginning of the year to have more time to execute the strategy, or wait until January of the following year. This timing can significantly impact her tax situation, especially if she has other income in the retirement year. Also, make sure she understands that once she takes the BOA shares into a taxable account, she'll need to track the cost basis very carefully for when she eventually sells. The IRS will want clear documentation showing the original purchase prices versus the fair market value at distribution. Her 401(k) administrator should provide a detailed breakdown, but it's crucial to keep those records safe. Has her advisor calculated exactly what her tax liability would be on the cost basis portion? That immediate tax bill could be substantial and needs to be planned for.

I'm really sorry for your loss, Dmitri. This is such a difficult situation to navigate while you're grieving. From my experience as a tax preparer, you're absolutely right that you can file married filing jointly for their final return since they were married at the time of death. Here are a few additional things to keep in mind: 1. Make sure to get a federal tax ID number (EIN) for each estate if you haven't already - you'll need these for any estate tax returns or if the estates generate income after death. 2. Check if they had any estimated tax payments due for 2024. As executor, you'll need to make those payments to avoid penalties on their final return. 3. Don't forget about state taxes - you'll likely need to file final state returns as well, and some states have different rules for deceased taxpayers. 4. If they had any joint bank accounts or investment accounts, make sure you understand which income gets reported on their final personal return versus potential estate returns. The IRS Publication 559 has detailed guidance on tax issues for survivors, decedents, and estates. It's dense reading but covers scenarios exactly like yours. You're doing the right thing by being thorough about this.

I'm sorry for your loss, Dmitri. This is definitely a complex situation, but you're on the right track asking these questions. One important detail I haven't seen mentioned yet - since your sister passed in March and her husband in October, you'll need to be careful about how you handle any income or deductions that occurred between those dates. Income that your brother-in-law received between March (when your sister died) and October (when he passed) should still be included on their joint final return, but you'll want to make sure you're not double-counting anything. Also, if either of them had health insurance premiums or medical expenses that were paid after your sister's March death but before your brother-in-law's October death, those can still be deducted on the joint return since they were still married filing jointly for the full tax year. The IRS Form 1041 instructions have a helpful section on "Income in Respect of a Decedent" that might be relevant if they had any retirement accounts or other assets that generated income after death. It's worth reviewing even if you end up not needing to file estate returns. You're doing a great job handling this responsibility during such a difficult time.