To all those having trouble reaching a human at IRS. I just ran across this video that gave me a shortcut to reach a human. Hope it helps! https://youtu.be/_kiP6q8DX5c

Hey Tiffany! Great that you finally got access to your transcripts! The 971 code with a date of 2/21 is likely not related to the transcripts you ordered by phone - that code indicates the IRS issued a notice to you, which could be about various things like verification, corrections, or follow-ups on your return. The 740 code is definitely concerning though - it means your refund was returned to the IRS because it couldn't be delivered to your bank account. Even though you're confident about your account info, sometimes banks reject deposits for various reasons (account closed, name mismatch, etc.). I'd recommend calling the IRS to verify they have the correct banking information on file and to ask about both codes. You should also receive a paper check for that returned refund if you haven't already. The notice from the 971 code should arrive in the mail and will explain what it's about specifically.

Great advice from everyone here! Just wanted to add a few practical tips from my experience as a tax preparer: 1. **Quarterly payments**: If you're winning regularly throughout the year, consider making quarterly estimated tax payments to avoid underpayment penalties. With $5,300 in winnings, you might owe more than the IRS safe harbor allows. 2. **Professional vs. casual gambler**: The IRS distinguishes between professional and casual gamblers. As a casual gambler, your winnings go on Schedule 1 as "other income." If the IRS ever considers you a professional gambler, you'd report on Schedule C, which has different rules for deductions. 3. **State taxes**: Don't forget about state tax obligations! Most states that have income tax will also require you to report gambling winnings. 4. **Multiple sites tracking**: Since you mentioned using multiple online casinos, make sure your spreadsheet clearly separates winnings/losses by site. This makes documentation much cleaner if you're ever audited. Your record-keeping sounds solid - that spreadsheet and confirmation emails will serve you well. TurboTax should handle this just fine in the "Other Income" section.

Thanks for all the detailed advice everyone! This has been incredibly helpful. I feel much more confident about handling this now. Just to clarify a few things based on what I've learned here: I'll report the full $5,300 as gambling winnings on Schedule 1, Line 8b in TurboTax. Since I track both wins and losses in my spreadsheet, I'll need to decide whether to itemize (to deduct losses) or take the standard deduction - sounds like I need to run the math both ways to see which is better. I'm definitely in the casual gambler category - this is purely recreational for me, maybe a few hours a week at most. The fact that I got lucky this year doesn't change that it's just entertainment spending. One follow-up question: should I print out and keep physical copies of all those confirmation emails and my spreadsheet, or are digital copies sufficient for IRS purposes? I have everything saved digitally but wondering if I need hard copies for my records. Also planning to be more proactive about setting aside money for taxes if I keep having good luck next year. Don't want any surprises come tax time!

I see so many people having problems with backdoor Roths. Is it even worth it anymore? I've been thinking about doing one but these issues make me nervous.

Just went through this exact same nightmare with my 2022-2023 backdoor Roth situation. The cascade effect is real and super frustrating! What helped me was creating a timeline of exactly what happened each year: - 2022: What contributions were made, what conversions happened, what forms were filed - 2023: What excess showed up, what penalties were assessed - Current year: What's carrying forward Once I mapped it out, I could see that I had properly made the non-deductible contribution in 2022 but my tax software didn't generate the Form 8606 correctly. The IRS saw the Roth conversion but not the underlying traditional IRA contribution basis, so they treated the whole conversion as taxable income PLUS flagged it as an excess contribution. The good news is that once you fix the original year (sounds like 2022 for you), the excess contribution issue should resolve. You'll need to amend both 2022 and 2023, but after that you should be clear. Don't let this scare you away from backdoor Roths - they're still worth it, just need to be extra careful with the paperwork!

This has been such an enlightening discussion! As someone who was completely overwhelmed by the tax changes when they first happened, reading through everyone's experiences and explanations really helps put the pieces together. I think what strikes me most is how this seemingly simple change - just doubling a number - actually had such far-reaching effects on everything from charitable giving to state politics to international competitiveness. It's fascinating how tax policy connects to so many other areas of society that you don't initially think about. One thing I'm curious about that I haven't seen mentioned - did this change affect how tax preparation companies operate? I imagine H&R Block and similar services had to completely restructure their business model if suddenly 20% fewer people needed to itemize. That must have been a massive shift for an entire industry. Also, for those of us trying to plan ahead - with many of these provisions set to expire after 2025, should we be preparing for potential changes? It sounds like there's a lot of uncertainty about what the tax landscape will look like in a few years.

As a newcomer to this community, I'm really impressed by the depth of analysis here! Reading through all these perspectives has helped me understand that the doubled standard deduction wasn't just a simple tax cut - it was really a comprehensive restructuring of how we think about tax policy. What I find most interesting is how this change affected different groups in completely different ways. Middle-class families got simplification and often lower taxes, high-tax state residents got hit with the SALT cap, charities lost donations from middle-income donors, and the tax prep industry had to completely reinvent itself. It's amazing how interconnected all these effects are. I'm definitely going to start keeping better records of my expenses just in case things change again after 2025. And I had no idea about the international context - it's fascinating that the U.S. was actually moving toward what other developed countries were already doing. Thanks to everyone who shared their experiences and expertise. This is exactly the kind of informed discussion that helps people like me understand the "why" behind these major policy changes, not just the "what.

Great question about the family agreement! It doesn't need to be filed with tax returns, but having something in writing can be really valuable for documentation purposes. The IRS generally looks at the substance of arrangements rather than just formal paperwork. Regarding gift tax implications - this is actually a common issue with inherited property. If one sibling lives rent-free while the other maintains ownership, the IRS could potentially view this as the non-resident sibling making a gift of their share of the rental value to the resident sibling. However, there are a few ways to handle this: 1. You could establish a fair market rent and have the resident sibling pay it, then split the rental income according to ownership shares 2. The resident sibling could be responsible for all maintenance, taxes, insurance, and upkeep in lieu of rent 3. You could formalize an arrangement where the resident sibling is gradually buying out the other's share The key is having documentation that shows this isn't just a one-sided gift. Many families handle this without issues, but it's worth discussing with a tax professional familiar with your specific situation and state laws. The annual gift tax exclusion is currently $17,000 per person, so depending on the property value and rental market, you might not hit gift tax thresholds anyway.

One additional consideration that hasn't been mentioned yet - if your mother transferred the house to the irrevocable trust less than 5 years before her death, there could be Medicaid lookback period implications, even though she has already passed away. This won't affect your current tax situation, but it's worth being aware of in case there are any outstanding medical bills or if the state tries to recover any Medicaid benefits that were paid out. Also, since you mentioned you're serving as trustee, make sure you have proper documentation showing the trust has been fully administered and all assets distributed. Some financial institutions and government agencies may still require proof that the trust has been properly wound down, especially if there are any future transactions involving the property. Keep copies of all the trust distribution paperwork, death certificates, and any correspondence with beneficiaries. These documents can be crucial if you ever need to prove the timeline and legitimacy of the property transfer for tax or legal purposes down the road.