I noticed nobody mentioned that you could potentially file Form 8275 (Disclosure Statement) with your return if you're going to report amounts different from your 1099. This form lets you disclose items or positions that aren't otherwise adequately disclosed on a tax return. It won't necessarily prevent an audit, but it shows you're being transparent about the discrepancy rather than trying to hide something. Include your calculation method and why you believe the broker's 1099 is incorrect.

I went through something very similar last year with a $2,800 discrepancy on my 1099-B. Here's what I learned from my CPA: First, don't panic and file with numbers you know are wrong - that can create bigger problems down the road. The key is to systematically figure out where the difference is coming from. Start by requesting your "realized gains and losses" report from your investment platform for the entire tax year. This is different from just your transaction history and will show exactly how they calculated each gain/loss. Compare this line by line with your records. Common causes of discrepancies I've seen: - Cost basis adjustments from corporate actions (stock splits, spinoffs, etc.) - Reinvested dividends that create new cost basis - Wash sale adjustments that defer losses - Different lot identification methods than what you used If you find a legitimate error after this review, document everything and request a corrected 1099 in writing. Most platforms will issue one if you can clearly show the mistake. If they won't correct it but you're certain there's an error, you'll need to report the 1099 amounts on your return but make an adjustment on Form 8949. Include a clear explanation and keep all your supporting documentation. The worst thing you can do is ignore the 1099 completely - the IRS computer will definitely flag that mismatch.

Filed mine 2/5 and still waiting too! This is my first year filing Nebraska state taxes after moving here from Kansas. The wait is killing me - Kansas usually had mine back within 2-3 weeks max. At least I know I'm not the only one still waiting! 🤞

Filed mine 2/2 and still waiting here in Omaha! Glad to see I'm not alone in this. The suspense is real - keep refreshing that state website hoping for good news. Fingers crossed we all get ours soon! 🤞

This is a great question that many parents face when helping their adult children with better banking options. Based on the discussion here, it sounds like the cleanest solution is to contact Marcus directly and have yourself removed as a joint owner, making your kids the sole owners of their respective accounts. Since they're adults (23 and 24) and have been filing their own taxes independently, this makes the most sense. The 1099-INT will then be issued directly to them with their SSNs, and they can report the interest income on their own returns without any complications. If for some reason you need to stay on as a joint owner for backup purposes, then whoever's SSN is primary on each account needs to report the interest income. But honestly, given that they're responsible adults managing their own finances, removing yourself as a joint owner seems like the simplest path forward that avoids all the tax reporting complexities.

I went through this exact situation with my daughter last year. The key thing to remember is that the IRS follows the "whose SSN is on the account" rule, not the "whose money is it" rule for 1099-INT reporting. Since you mentioned you're just there as a backup and your kids are using the funds 100%, I'd strongly recommend calling Marcus and having yourself removed as joint owner on both accounts. Your kids are adults and have been filing independently - they don't really need you as a joint owner for backup purposes, and it's just creating tax complications. If you do this soon (like within the next month), the 1099-INT forms should be issued to your kids directly for this tax year. Just make sure to confirm with Marcus about their cutoff dates for tax document generation. This is definitely the cleanest solution and avoids all the nominee interest reporting headaches that others have mentioned.

I appreciate all the detailed responses here! As someone who's navigated this exact situation, I want to emphasize that the 1095-A filing requirement is really important to get right. I made the mistake of not filing one year when I had zero income but received advance premium tax credits, and it caused major headaches when I tried to renew my marketplace coverage the following year. The key thing to understand is that if you received ANY advance premium tax credits (shown in Column C of your 1095-A), you absolutely must file Form 8962 to reconcile those payments. The IRS treats this as mandatory regardless of your income level. If you don't file, they can block your eligibility for future premium tax credits, which could make marketplace insurance unaffordable. For Drake's specific situation with zeros in Column C - you're likely not required to file just because of the 1095-A, but I'd still recommend filing if you think you might be eligible for any refundable credits. Sometimes people with very low income can claim things like the Earned Income Tax Credit or other credits that result in refunds even with no tax liability. The peace of mind from filing and starting that statute of limitations clock is worth it in my opinion, especially since free filing options are widely available for simple returns.

Just want to add another perspective on this - I work as a tax preparer and see this situation frequently. The confusion around 1095-A filing requirements is super common, so don't feel bad about being unsure! One thing I always tell clients is to look at Box 33 on their 1095-A form. If there are dollar amounts there (advance premium tax credits), filing is absolutely mandatory regardless of income. But even if those boxes show zero, you might still benefit from filing to claim the premium tax credit for the first time, which could result in a refund. Also, for future planning - if you expect to have low or zero income again, consider applying for Medicaid instead of marketplace insurance if you qualify. This would eliminate the 1095-A complexity entirely while still providing coverage. Eligibility varies by state, but it's worth checking since many states expanded Medicaid under the ACA. The bottom line is that when in doubt, it's almost always safer to file than not to file, especially with marketplace insurance involved. The penalties for not filing when required (particularly losing future premium tax credits) are much worse than the minor inconvenience of filing an unnecessary return.

I went through this exact same situation when I refinanced in August! The key thing that tripped me up initially was making sure I understood the timing correctly. When you have two 1098 forms from the same year due to refinancing, you want to make sure you're not double-counting any interest or missing any deductions. Here's what I learned: 1. The original lender's 1098 will show interest paid from January through the payoff date 2. The new lender's 1098 will show interest from the loan start date through December 3. Any prepaid interest or points from the refinance may be partially deductible in the current year Ryan's advice about using the "Add another mortgage interest statement" feature is spot on. But also double-check that the total interest amounts make sense when you add them up - it should roughly match what you'd expect to pay for the full year on your mortgage amount. One thing to watch out for: if you paid any loan origination fees or discount points on the refinance, those might be spread over the life of the loan for tax purposes rather than fully deductible in year one. FreeTaxUSA should handle this automatically, but it's worth verifying the calculation matches IRS rules.

I just went through this exact situation last month! One thing I wanted to add that hasn't been mentioned yet - make sure you keep all your closing documents from both the original mortgage payoff and the new loan. When you refinance mid-year, sometimes there can be timing differences between when interest was actually paid versus what gets reported on the 1098 forms. I had a situation where my original lender's 1098 showed interest through the payoff date, but there was actually a small gap of a few days where I had paid interest that didn't get reported on either form due to the timing of when the new loan funded versus when the old loan was officially paid off. Also, if you paid any mortgage insurance premiums (PMI) to either lender during the year, those are also deductible (subject to income limits) and you'll want to make sure you're capturing those from both loans as well. FreeTaxUSA has a separate section for mortgage insurance premiums that you can access after entering your mortgage interest information. The software does a pretty good job of walking you through everything once you know about the "add another" feature, but definitely review your final tax calculation to make sure the total mortgage interest deduction looks reasonable compared to what you actually paid out during the year.