This might be a dumb question but does anyone know a good tax software that handles options trading well? I've been using H&R Block but it seems totally confused by my covered calls and cash-secured puts.

I've been dealing with the same TD Ameritrade 1099-B confusion for years! One thing that really helped me was understanding that the "basis reported to IRS" distinction basically tells you how much work you have to do. When TD reports the basis, they're telling the IRS what you paid - so you just need to make sure your tax software captures the right gain/loss. When they don't report basis, you're on the hook to prove what you paid if the IRS ever asks questions. For your $63k trading volume, definitely pay attention to the wash sale adjustments. TD Ameritrade is pretty good about calculating these, but they only track wash sales within their own system. If you have accounts at other brokers or bought the same securities in a retirement account, you'll need to manually track those wash sales yourself. Also, since you mentioned futures trading - those Section 1256 contracts are actually treated more favorably tax-wise because of that 60/40 long-term/short-term split, regardless of holding period. So even if you held a futures contract for just one day, 60% of the gain gets long-term capital gains treatment. Pretty nice tax advantage compared to regular stock trading!

Check if your state still allows these deductions! Federal eliminated them but I found out NJ still lets me deduct unreimbursed employee expenses on my state return. Saved me about $420 last year!

This is exactly why I think we need to push back on employers more systematically. Mason, your $3,500 in tools plus uniforms and repairs is a significant business expense that your company is essentially shifting to you. Have you considered documenting all these required expenses and presenting them to your employer as a formal request for either reimbursement or a tool allowance? Some companies have started offering annual tool stipends or reimbursement programs once they realize how much their employees are spending. You might also want to check with your union (if you have one) - some have negotiated tool allowances into their contracts specifically because of these tax law changes. Also worth noting: if you do any side work with those same tools (even occasional weekend jobs), you can deduct the business-use portion on Schedule C. Keep detailed records of what percentage of tool use is for side work versus your main job.

Don't ignore this! My cousin had a similar W2 issue last year and thought "whatever, I'll just file without entering that box" - ended up getting audited because the IRS systems automatically flag mismatches between what employers report and what you file. The employer sends a copy of your W2 to the IRS, so they'll know something's missing.

Just wanted to add another perspective here - I'm a former payroll administrator and this type of Box 12a error is more common than you'd think, especially around year-end when companies are rushing to get W2s out. The missing letter code is almost always a simple oversight in the payroll system setup. When you call HR, don't just ask them to "fix it" - be specific that Box 12a contains a dollar amount but is missing the required letter code. This helps them identify the exact issue in their system. Also ask for a timeline on when you can expect the corrected W-2c form, since you'll need it before the filing deadline. One more tip: keep documentation of your request (email is better than a phone call) so you have proof that you contacted them about the error if any questions come up later. Most employers are very cooperative about fixing these mistakes once they understand what went wrong.

The community wisdom on this is pretty consistent: that message usually (but not always) means an offset is coming. The offset line typically updates 1-2 weeks after the decision is made, which could be why you're not seeing anything new yet. I'd suggest you might want to check your credit reports to see if there are any debts in collections you might have forgotten about, as those are often what trigger these offsets. Also, if you have any federal student loans in default, those are probably the most common cause of unexpected offsets this year since the payment pause ended.

This is such a stressful situation! I'm dealing with something similar right now - got my 846 code yesterday but WMR is showing that dreaded "may be reduced" message. From what I've been reading here and my own research, it sounds like there's definitely a lag between when they make the offset decision and when it shows up on the Treasury Offset Program hotline. What's really frustrating is that the IRS systems seem to know about offsets before the offset hotline does, which is why we get that scary warning message without any details. I've been checking the offset line daily and it's still showing the same old information from months ago. I think I'm going to take the advice here and budget for a reduced refund just to be safe. Better to be pleasantly surprised than scrambling to cover bills if they do take money out. Has anyone found a reliable way to predict how much might get taken, or is it just a waiting game until the refund actually hits?

Has anyone used TurboTax for reporting international transfers? I'm trying to figure out if the basic version handles FBAR reporting or if I need to upgrade to their premium version.

I'm dealing with a very similar situation! I've been working remotely for a European company while living in the US and regularly transferring my salary back through various services including Western Union. One thing I learned that might help you - the key distinction is between the original income (which you definitely need to report on your US taxes as worldwide income) and the actual transfer of that money between your accounts (which isn't a taxable event itself). For the FBAR reporting that others mentioned, the threshold is if your foreign accounts had a combined balance over $10,000 at ANY point during the year - even if it was just for one day. This caught me off guard initially because I thought it was based on year-end balances. Also, keep detailed records of the exchange rates on transfer dates. While small currency fluctuations usually don't create significant taxable gains, if there are large swings between when you earned the money and when you transferred it, there could be some currency gain/loss to account for. Have you considered using a service like Wise instead of Western Union? The fees are usually lower and they provide better documentation that's easier for tax reporting purposes.