I'm going through something very similar right now with my nephew who I've had custody of for two years. His mom claimed him even though she hasn't seen him since last spring. One thing I learned is that you should also keep detailed records of things like school enrollment forms, medical appointments, and even grocery receipts that show you're buying food for the child. The IRS wants to see proof that the child actually lived with you and that you provided more than half their support. Also, if you have any documentation from social services or the court system about the foster placement, make sure to include copies of those with your paper return. The clearer you can make it that you're the legal caregiver, the stronger your case will be when they investigate the duplicate claim. Don't let the bio parents intimidate you out of claiming what you're legally entitled to. You're doing the right thing by fighting this!

I'm dealing with this exact situation right now as a new foster parent, and I want to thank everyone for sharing their experiences. It's been overwhelming trying to figure out the right steps to take. Based on what I'm reading here, it sounds like the key is having really solid documentation and not backing down from what you're legally entitled to. I've been keeping detailed records from day one, but some of the suggestions here (like grocery receipts and neighbor statements) are things I hadn't considered. For anyone else going through this - it seems like the common thread is that the IRS will eventually side with whoever has the proper legal documentation and can prove they actually provided care and support for the child. The biological parents might try to claim them fraudulently, but if you have your foster care paperwork, school records, medical records, and proof of expenses, you should be in good shape. I'm planning to use both the taxr.ai service someone mentioned to help organize my documentation and the Claimyr service to actually speak with an IRS agent directly. Sometimes you need all the help you can get when dealing with government bureaucracy! Stay strong and don't let people take advantage of the system at your expense. These kids deserve to have their benefits go to the people who are actually caring for them.

I went through this exact same situation last year and it was incredibly confusing! What helped me was understanding that the mortgage interest limitation is actually calculated based on your average outstanding debt balance throughout the year, not just a simple percentage of total interest paid. Since you only had the second mortgage for one month (December), the weighted average calculation should work in your favor. Your average mortgage debt for the year would be roughly: ($520k × 11 months + $1,395k × 1 month) ÷ 12 = approximately $593k for the year. Since this is under the $750k limit, you should actually be able to deduct ALL of your mortgage interest! I'd double-check your tax software's calculation - it sounds like it might be treating both mortgages as if you had them the entire year. The key is making sure the software knows the acquisition date of your second home so it can calculate the proper weighted average. If your software doesn't handle this correctly, you might need to manually override the calculation. Also, as others mentioned, since your first mortgage is from 2017 (before December 15, 2017), it may qualify for the higher $1M limit under the grandfathering rules, which would make your situation even better!

I went through a very similar situation with multiple properties and the $750k mortgage interest limitation, and I want to share what I learned that might help clarify things for you. First, you're absolutely correct that you need to report ALL mortgage interest from both properties - the IRS will receive 1098 forms from both lenders, so omitting one isn't an option. However, I think there might be an error in how your tax software is calculating the limitation. The key point that many people (and some tax software) miss is that the limitation is based on your *average* mortgage balance throughout the year, not the total debt you had at any point. Since you only had the second mortgage for December, your calculation should be: ($520k × 11 months + $1,395k × 1 month) ÷ 12 = approximately $593k average Since $593k is well below the $750k limit for married filing jointly, you should actually be able to deduct 100% of your mortgage interest from both properties! Your software calculating only 54% deductibility suggests it's treating both mortgages as if you had them the entire year. Additionally, since your first mortgage originated in 2017 (before December 15, 2017), it may qualify for the higher $1M limit under the grandfathering rules, which would make your situation even more favorable. I'd recommend double-checking that your tax software has the correct acquisition dates for both properties and is calculating the weighted average properly. If not, you may need to manually override the calculation.

So you're saying I can claim the 30% credit on my Tesla Wall Connector without a permit if my town doesn't require one? How much is the average credit people are getting? Just installed mine and paid around $1,800 for the charger + installation.

I just went through this same situation last month! Your county's permit exemption should be perfectly fine for the tax credit. The key thing to understand is that Form 8911 isn't creating new permit requirements - it's just checking that you followed whatever rules apply in your jurisdiction. Since your county doesn't require permits for charging stations on existing circuits, you're compliant with local code. I'd recommend getting a quick email or letter from your county building department confirming that no permit is required for your specific installation type. This gives you documentation if the IRS ever asks. Also, make sure to keep all your receipts for both the charger and installation costs. You can claim 30% of the total up to $1,000 maximum credit. With Tesla's Wall Connector, most people end up getting close to that full $1,000 since installation costs add up quickly. Don't stress about getting an unnecessary permit - that would actually be wasteful and doesn't help anyone. Just follow your local rules and document that you did!

I went through something very similar when my father passed in 2021. The key thing that helped me was understanding that the IRS has different rules for deceased taxpayers, especially when notices were sent after death. First, definitely file those 2020 and 2021 returns immediately, even if you're past the 3-year window. Include Form 1310 with each return and a detailed cover letter explaining that your father died in November 2022 and you only recently discovered these unfiled returns during estate administration. For the interest abatement, file Form 843 specifically citing IRC 6404(e)(1) - reasonable cause due to death. The IRS often grants these when they can verify notices were sent to a deceased person's address. Most importantly, request that any refunds from 2020/2021 be applied directly to the 2019 balance rather than issued as checks. Even if the refunds are technically "expired," the IRS can often still use them to offset other tax debts when there are special circumstances like death. I also recommend calling the Practitioner Priority Service line if you have a POA on file - they're more equipped to handle complex estate situations than the regular customer service lines. Document everything in writing and keep copies of all correspondence. The process took about 6 months in my case, but we ultimately got the balances resolved and most of the interest abated. Don't let them tell you there's nothing that can be done - deceased taxpayer cases have more flexibility than they initially let on.

I've been following this thread as someone who went through a remarkably similar situation with my mother's estate in 2023. What really struck me about your case is how the IRS seemed to dismiss your options during those appointments - this is unfortunately common, but there are definitely more avenues to explore than they indicated. One thing I haven't seen mentioned yet is the "equitable relief" provision under IRC 6015(f). While this is typically used for innocent spouse cases, it can sometimes apply to deceased taxpayer situations where there were systemic issues with notice delivery. In your case, the fact that the November 2022 notice about additional 2019 income was sent to someone who had already died that month could be grounds for equitable relief from the resulting penalties and interest. Also, when you file those 2020 and 2021 returns, make sure to include a statement invoking the "Servicewide Hardship" provisions. The IRS has internal guidance (found in the Internal Revenue Manual) that gives them discretion to waive normal statute limitations when collection actions would create undue hardship for an estate, especially when the estate lacks sufficient assets to pay the debt but has legitimate refund claims that could offset it. I'd strongly recommend requesting a meeting with a Revenue Officer rather than just working with customer service representatives. They have more authority to make decisions about your specific case and can often authorize exceptions that regular agents cannot. You can request this through your local Taxpayer Assistance Center. The key is to frame this not just as "please give us expired refunds" but as "please properly account for all tax years and apply available credits to resolve the overall tax situation for this deceased taxpayer's estate." The IRS has much more flexibility in these situations than they initially indicate.

Great question! As others have mentioned, you're only taxed on your net capital gains, not each individual profitable trade. Since you're showing a $750 net gain, that's what matters for taxes. One additional tip for college students - make sure to consider whether you can be claimed as a dependent on your parents' tax return. If so, there are different income thresholds that apply to the 0% capital gains rate. The standard deduction for dependents is limited, so even small gains might be taxable. Also, keep good records of all your trades throughout the year, not just for tax purposes but to learn from your trading patterns. Many successful traders track their performance to see what strategies work best. Since you've recovered from that 40% drawdown to show a 15% gain, you're clearly learning! The fact that you're thinking about taxes now shows good financial planning. Many new traders don't consider the tax implications until it's too late.

Just wanted to add something that might help with your dependent status question - if you're claimed as a dependent, your standard deduction for 2025 is limited to the greater of $1,150 or your earned income plus $400 (up to the standard deduction amount). Since you mentioned no job income, your standard deduction would likely be just $1,150. This means if your net capital gains exceed that amount, you'd owe taxes on the excess. So with your $750 gain, you'd actually still be in the 0% bracket even as a dependent! For tracking performance beyond portfolio value, I'd recommend keeping a simple spreadsheet with columns for: date, ticker, buy/sell, quantity, price, total cost/proceeds, and reason for trade. After a few months, you can analyze which sectors or strategies worked best. Some people also track their emotional state when making trades - helps identify when fear or greed is driving decisions. The recovery from that 40% drawdown really is impressive for a new trader. Most people would have panic-sold at the bottom. Shows you've got the temperament for this!