I'm dealing with a Form 3531 situation right now too, and reading through everyone's experiences has been incredibly helpful! It's reassuring to know that signature scanning issues are so common - I was beating myself up thinking I had made some obvious mistake. One thing I'm curious about - for those who have been through this process, how long did it typically take from when you mailed back your corrected Form 3531 until you saw movement on your refund status? I know @ac59dd81328e mentioned 6-8 weeks and @90bdcb40b7b0 said about 7 weeks, but I'm wondering if there's much variation in processing times. Also, has anyone had experience with what happens if the IRS has additional questions after you send back the Form 3531? I'm just trying to prepare myself mentally for all possibilities since this whole process has already taken so much longer than I expected when I originally filed back in February. The certified mail advice seems to be a consistent recommendation from multiple people here, so I'm definitely going to do that. Better safe than sorry when dealing with important tax documents!

I just wanted to share my recent experience with Form 3531 since I see so many people going through the same stress I did a few months ago. I received the form in August with boxes checked for missing signature and address update. Like many others here, I was absolutely certain I had signed my return properly, but apparently my blue pen wasn't dark enough for their scanning equipment. Here's what I learned that might help others: 1. The signature issue is usually about scan quality, not whether you actually signed. Use a black pen and press firmly - blue ink sometimes doesn't scan well even though it's technically acceptable. 2. For the address update, they really do need your current address on this specific return, even if you've updated it elsewhere. This ensures any correspondence or refund related to this particular tax year goes to the right place. 3. Don't panic about timing - your original filing date is preserved. This is just a correction, not a new filing. 4. Make copies of everything before mailing it back, and definitely use certified mail with return receipt. The few extra dollars are worth the peace of mind. After I sent back my corrected Form 3531, my refund processed in about 6 weeks. The whole experience was much less complicated than I initially feared. Sometimes the IRS just needs clarification on simple things, and once you provide it, everything moves forward normally. Hope this helps anyone currently dealing with this situation!

Something important to remember that no one mentioned yet - the $3,000 limit is for deducting capital losses against ordinary income. There's no limit on using capital losses to offset capital gains. So if you had $10,000 in losses and $8,000 in gains, you'd first offset the entire $8,000 in gains, then you could deduct up to $3,000 of the remaining $2,000 loss against your ordinary income. The remaining $1,000 would carry forward to next year. This is why tax loss harvesting can be such an effective strategy for high-income earners. Selling losers strategically can help offset gains from winners.

I just wanna add one more thing about wash sales since people keep mentioning them. The rule applies across ALL your accounts, even retirement accounts! I found this out the hard way. Sold TSLA at a loss in my regular brokerage account then bought it back in my Roth IRA 2 weeks later thinking I was being clever. Nope! IRS disallowed the loss. The wash sale rule doesn't care which account you rebuy in - if it's within 30 days and substantially identical, the loss gets disallowed.

Quick question - what state are you in? Property transfer rules and taxes vary significantly by state, and that could impact your decision. In some states, transferring property to an LLC triggers transfer taxes that could be substantial depending on the property value.

I went through a very similar situation with inherited property and an LLC last year. One thing that really helped me was understanding that the IRS treats contributions to multi-member LLCs differently than single-member LLCs. Since you mentioned your LLC has another member, you'll want to be especially careful about the valuation and documentation. Based on my experience, I'd strongly recommend getting a professional appraisal before making any transfers. The IRS can challenge valuations, and having a defensible fair market value is crucial whether you're calculating gift tax implications or capital gains. Also, make sure your LLC operating agreement clearly addresses how property contributions are handled and how they affect each member's capital accounts. One approach my tax advisor suggested was structuring it as a sale to the LLC with the LLC giving you a promissory note, rather than an outright contribution. This can help avoid immediate gift tax issues while still getting the property into the LLC. The note payments would then represent your withdrawal of capital over time. Just make sure the terms are at fair market rates to avoid imputed income issues. Whatever you decide, document everything thoroughly. The IRS pays close attention to transactions between related parties and LLCs, so having clean paperwork from the start will save you headaches later.

dont forget to save all your receipts whatever option you choose. learned that one the hard way lol

Another option to consider is an Education Savings Account (ESA/Coverdell ESA) if you qualify - it allows up to $2,000 annually in after-tax contributions that grow tax-free and can be withdrawn tax-free for qualifying education expenses including K-12. The income limits are pretty strict though (phaseout starts around $95k-$110k depending on filing status). Also worth noting that some employers offer backup childcare benefits that might help with occasional PreK costs!

I've been with Wells Fargo for about 3 years now and can confirm they're pretty strict about waiting until the exact date. Unlike some of the smaller banks and credit unions that release early, Wells Fargo processes these right on schedule. Your June 12th date should be solid - I'd expect it to hit your account sometime during business hours that day. The one thing I've noticed is that if June 12th falls on a weekend, they usually process it on the Friday before, but since you're looking at a weekday you should be good. Just don't refresh your app at midnight expecting it to be there immediately - these usually post during normal banking hours.

Based on my experience with Wells Fargo, they're pretty conservative with deposit timing - they'll release your refund exactly on June 12th as shown on your transcript, not earlier. I switched to Wells Fargo two years ago from a local credit union that always gave me deposits 1-2 days early, so I totally understand the adjustment! The good news is that Wells Fargo is very reliable - if your transcript says June 12th, you can count on getting it that day (usually sometime during business hours). Just manage your expectations and don't expect the early release you were used to with your credit union. For future refunds, you might want to consider keeping a secondary account with an online bank like Chime or SoFi if early access to funds is important to you - many people do this specifically for the early deposit feature while keeping their primary banking with traditional banks.