Quick question - I'm in a similar situation but I've been renovating my rental for 8 months now. Can I deduct all the renovation expenses even though the property isn't rented yet?

One thing I haven't seen mentioned yet is the importance of establishing the "placed in service" date properly for IRS purposes. Since you're doing renovations while living there, you'll want to document the exact date when the property becomes available for rent - this could be when you finish renovations, move out, and list it for rent. Keep records of when you complete the work, when you stop using it as your personal residence, and when you first advertise it. The IRS can be picky about this date since it affects when depreciation starts and how you allocate expenses between personal use and rental use. Also, since you mentioned staying in one bedroom - make sure you're clear on the business vs personal use percentages. If you're using 1/3 of the house personally, you can only claim rental deductions (including future depreciation) on the remaining 2/3. This gets tricky during the renovation period since you might argue the personal use is temporary and solely for renovation convenience, but the IRS generally looks at actual use patterns.

I filed my return about 6 days ago and I'm in a similar boat - still waiting for that acceptance notification! Like several others have mentioned, I think this year does seem a bit slower than usual. I've been using TurboTax and checking their status tracker as well as the IRS site. One thing I learned from reading through these comments is that weekday filings seem to process faster, and I unfortunately submitted mine on a Saturday evening. I'm trying not to stress about it since everyone here seems to confirm that 7-10 days is still normal, especially this time of year when the IRS is probably swamped. It's definitely nerve-wracking though when you're used to getting that quick confirmation! Thanks to everyone for sharing their timelines - it really helps put things in perspective.

I just went through this same situation! Filed my return electronically 4 days ago and was getting anxious about the lack of acceptance notification, especially since this is my first year filing with solely retirement income (pension and 401k distributions). After reading through everyone's experiences here, I feel much better about the timeline. It sounds like 7-10 days is completely normal, and weekend filings definitely seem to take longer. I used H&R Block's software and have been obsessively checking both their tracker and the IRS "Where's My Refund" tool multiple times daily. One thing I noticed is that their system shows "transmitted successfully" but still waiting on "IRS accepted." Based on what Miguel and others shared about the distinction between transmission and acceptance, I think I just need to be more patient. Thanks to everyone for sharing their timelines - it's so helpful to know what's actually normal versus what we expect!

As someone who made this exact mistake last year, let me tell you what worked for me. I used FreeTaxUSA which handles partnership returns for a reasonable price. To amend: 1. Create a new 1065 return in the software 2. Enter all the same info as your original return 3. Check the "Amended Return" box 4. Make sure to complete Box 14 this time 5. The software will generate the proper K-1s It's actually not as complicated as it seems. For a simple partnership with low income/expenses like yours, the amendment should be straightforward as long as you're just adding the Box 14 info and not changing any dollar amounts.

Just wanted to add my experience since I went through this same headache last year. The key thing that helped me was understanding that Box 14 is specifically for self-employment tax calculations - that's why your personal accountant won't touch your individual return until it's fixed. For a simple partnership like yours (selling stuff online), you'll most likely need to report your share of the partnership's net earnings in Box 14 with code "A". Since you mentioned $6,500 gross income and $6,000 expenses, your net earnings would be around $500, so each partner's Box 14 would show their respective share of that amount. I used TurboTax Business to handle my amendment and it was pretty straightforward. The software automatically calculated what needed to go in Box 14 based on the business income I'd already entered. Just make sure when you generate the new K-1s that both you and your partner get copies of the corrected versions for your personal returns. One tip: call the IRS processing center after you mail the amendment to confirm they received it. Mine got lost in the mail the first time and I had to resend everything.

I'm dealing with a very similar situation with Gig Worker Solutions/Anchor Financial. Filed my SETC amendment in March, got the same promises about advances and the same runaround with transcripts. What really helped me was documenting everything - every phone call, email, and promise they made. I also filed complaints with the Consumer Financial Protection Bureau (CFPB) in addition to the BBB. The CFPB complaint actually got a response from them within two weeks, though it was mostly corporate speak about "reviewing my case." One thing I learned - these companies often use multiple business names and entities to avoid accountability. Anchor Financial might be operating under different names now. When I researched their business registration, I found several related entities with similar addresses. My advice: keep all your documentation, file that POA revocation with the IRS immediately, and consider consulting with a tax attorney if the amount is significant. Many offer free consultations for these types of cases. The good news is your amendment is likely fine - it's just these middleman companies that are the problem.

I'm going through almost the exact same situation with Gig Worker Solutions/Anchor Financial! Filed my SETC amendment in January, got all the same promises about advances and transcript verification, and now they're giving me the runaround about "third parties" not funding anyone who filed before April 1st. What's really frustrating is that they kept moving the goalposts - first it was transcripts, then it was formatting issues with the transcripts, then it was review time, and now suddenly there are funding restrictions they never mentioned before. It feels like they're just stalling. I've already revoked my POA with the IRS and filed complaints with the BBB and CFPB. The CFPB complaint at least got them to respond, though it was mostly generic corporate language about "reviewing policies." One thing I discovered - when I called the IRS directly (took forever to get through), they confirmed that my amendment is progressing normally and there are no issues on their end. The agent even mentioned they've been getting a lot of calls about these advance companies lately, which makes me think this is a widespread problem. At this point I'm just waiting for the IRS to process everything directly. It's slower but at least I know I'll actually get my money without someone taking a 20% cut. Hang in there - sounds like we're all in the same boat with these companies!

Has anyone used TurboTax to handle this marketplace allocation situation? I'm dealing with the same thing and don't know where to even enter this information.

I went through this exact scenario two years ago and it was so confusing at first! The key thing that helped me understand it was realizing that even though you're not a dependent, you were still covered under a policy in your mom's name, which creates this "shared policy" situation. Here's what worked for us: My mom (the policy holder) filed Form 8962 and allocated 100% to herself since her income was much lower and she qualified for more premium tax credit. I then filed my own Form 8962 showing 0% allocated to me. This saved us about $600 compared to splitting it 50/50. The IRS accepts this as long as both people file Form 8962 with matching allocation percentages that add up to 100%. Since you mentioned your mom is unemployed and you worked full-time, allocating more to her will likely result in less money owed overall due to the income-based credit calculation. Just make sure you both keep copies of the 1095-A and coordinate on the allocation percentages before filing!