Dose this work for amended returns to?

This is super helpful! I've been trying to figure out my processing cycle for months. Just checked my 2023 transcript and my cycle code ends in 02 - so I'm on daily processing. No wonder I've been seeing random updates throughout the week instead of just Fridays like some people. Thanks for sharing this method, way better than guessing!

Anybody know if OP should consider a Traditional IRA instead of Roth at this income level? With such low income wouldn't it be better to take the tax deduction now?

Great question! You're absolutely on the right track thinking about retirement savings at 19. Just to add some clarity to what others have mentioned - your Roth IRA contribution limit is based on your "earned income" which for self-employed folks like you is your net profit from Schedule C (after business expenses like mileage, but before the self-employment tax deduction). So if your net profit after all business deductions is $6,500, that's exactly what you can contribute to your Roth IRA. The fact that it matches the contribution limit perfectly is just a coincidence - you're not required to have "extra" income beyond what you contribute. One thing to double-check: make sure you're tracking your mileage accurately since that's usually the biggest deduction for delivery drivers. The IRS standard mileage rate for 2025 is 67 cents per mile, which can really add up with delivery work. Keep up the smart financial planning - starting retirement savings this early will pay off huge in the long run!

Just wanted to add that I had the exact same codes (971 and 570) last year when I filed in February. Like others mentioned, it was just a routine review - they were verifying my dependent information since I had claimed my nephew for the first time. The waiting is definitely the hardest part, but try to stay patient. One thing that helped me was setting up IRS2Go app notifications so I could check my transcript status without constantly logging into the website. Also, make sure your address is current with the IRS since they'll be mailing you that notice. In my case, the review took exactly 21 days from the 971 date, and then everything processed normally. The notice I received was pretty straightforward and just confirmed they had verified my information. Your situation sounds very routine based on what you've described!

I've been helping people with transcript codes for years, and the 971/570 combination you're seeing is honestly one of the most routine ones during tax season. The IRS is essentially saying "we got your return, we're taking a closer look at something, and we'll send you a letter explaining what." Since you filed in February and the 971 is dated 04-15-2024, you're right on schedule for a typical review. The cycle code 20240805 indicates normal processing, not an audit or major issue. Most likely scenarios: they're verifying your W-2 data matches what employers reported, double-checking any credits you claimed (especially if you have kids or claimed education credits), or confirming your filing status. The key thing is that 570 holds usually release automatically once their systems verify everything matches up. You'll see a 571 code appear when the hold lifts, followed by a refund date within a few days. Based on your timeline, I'd expect movement in the next 1-2 weeks. The notice you receive will be pretty basic - usually just confirmation that they reviewed and approved your return.

Has anyone here used a specific tax form or schedule to report the RSU loss? I'm trying to figure out if this goes on Schedule D or if there's another form I should be using for RSU-specific losses where I couldn't sell immediately due to company restrictions.

This is such a frustrating situation, but you're definitely not alone in dealing with this! I had a similar experience where my RSUs dropped 20% during a blackout period and I felt like I was being taxed on money that evaporated. One thing that helped me was working with my tax preparer to make sure I was tracking everything correctly. Since you're dealing with both income tax on the vesting value AND capital losses on the sale, it's important to keep detailed records of: 1. The exact vesting date and share price 2. The date restrictions were lifted 3. Your actual sale dates and proceeds 4. Any shares you're still holding Also, don't forget that if your total capital losses exceed $3,000 in a year, you can carry the excess forward to future tax years. Given how volatile some stocks have been lately, those carried-forward losses might come in handy for offsetting future gains. It really is an unfair system when you're essentially penalized for company policies you have no control over, but at least the capital loss treatment helps offset some of the pain. Hang in there!

Has anyone here dealt with allocation of shared utilities in a situation like this? I'm in a similar position with a commercial/residential mixed building and I'm confused about how to handle common area utilities when part is business and part is personal.

One thing I'd strongly recommend is getting everything documented properly from the start. When we did a similar conversion, our CPA advised us to create a formal "conversion plan" that outlined exactly when each unit would transition from business to personal use, along with the square footage allocations. This documentation became crucial later when we had questions about which improvements qualified for depreciation. We included photos of the property before improvements, detailed cost breakdowns for each area, and a timeline of when different spaces would change use. Also, consider whether you want to elect out of bonus depreciation for some of these improvements. While bonus depreciation gives you bigger deductions upfront, it can create complications if you convert units to personal use shortly after. Sometimes taking regular depreciation over the longer schedule gives you more flexibility, especially with mixed-use properties like yours. Your accountant will probably want to see all this documentation, so getting it organized now will save you time and potentially money in professional fees later!