Make sure you don't exceed your annual HSA contribution limit when figuring this out! For 2024 tax year the limits are $4,150 for individual coverage and $8,300 for family coverage. If you're 55+ you can contribute an extra $1,000 as a catch-up contribution. The total of ALL contributions (yours + employer's) can't exceed these limits. So your Box 12 Code W plus any direct contributions you made need to stay under these thresholds or you'll owe an excise tax on excess contributions. I learned this the hard way last year when I didn't realize my employer contributions counted toward the limit and I overcontributed by $1,200. Had to withdraw the excess plus earnings and report it as income. What a headache!

does anybody know if u can still contribute to HSA for 2023 taxes? i got a big tax bill and need more deductions. my w2 code w was only $1500 and my employer put in $750 of that.

Been waiting on cycle 05 for weeks too! From what I've learned lurking here, Thursday nights around midnight EST seem to be the magic time. But honestly, after reading everyone's experiences with taxr.ai, I might just bite the bullet and pay the $5 to get some peace of mind instead of obsessively refreshing every few minutes like I have been 😅

I'm in the exact same situation! Cycle 05 here and I've been refreshing my transcript like it's my job 😤 Based on what everyone's saying, sounds like Thursday nights around midnight EST is when we should see movement. I might have to try that taxr.ai thing too - spending $5 seems way better than losing my mind checking every hour. Has anyone else noticed if there's a pattern to which Thursday nights actually get updates vs maintenance delays?

Just went through this with my tax guy and apparently it's super common for Box 7 to be unchecked, especially with loans that have been sold between servicers. My tax preparer said as long as you know it's your primary residence, you just check that box on Schedule A when entering your mortgage interest deduction and keep moving. The only time to worry is if you're trying to deduct interest on a property that isn't your primary or secondary residence, or if you're deducting interest on more than two properties. Then you might run into limitations or need to provide additional documentation.

Most major tax software like TurboTax, H&R Block, and TaxAct handle the Box 7 issue automatically when you input your mortgage interest information. You typically just enter the amount from Box 1 of your 1098, and the software assumes it's for a qualified residence unless you specify otherwise. If you're using TurboTax, it will ask you questions about the property (like "Is this your main home?") rather than specifically asking about Box 7. As long as you answer that it's your primary residence, the software will properly categorize the deduction regardless of what's checked on the form. The Box 7 checkbox is really more for the IRS's information processing than for your tax preparation. Your software cares about the actual facts of your situation, not what boxes the lender checked or didn't check on the form.

Sorry if this is a dumb question, but how much do you have to make before you need to report self-employment income? I made like $350 doing some graphic design work last year. Do I even need to file?

This is exactly the situation I found myself in last year! The $275 self-employment tax is likely correct - it caught me completely off guard too since I was used to W-2 jobs where all that stuff is handled automatically. One thing that really helped me was using Schedule C-EZ (if your business expenses are $5,000 or less) instead of the full Schedule C. It's much simpler and still lets you deduct legitimate business expenses to reduce that net self-employment income. Even small things like software you bought for the freelance work, a portion of your internet bill, or supplies can add up and lower that SE tax. Also keep in mind that you can deduct half of the self-employment tax you pay (so about $137 in your case) as an adjustment to income on your next year's return. It doesn't help this year, but it's something to remember going forward. The whole self-employment tax thing is definitely a learning curve when you're coming from W-2 work!

Has anyone used TurboTax to report RSUs with blackout periods? I'm trying to figure out how to input this correctly to avoid IRS issues.

I've been dealing with RSUs and blackout periods for about 3 years now, and it definitely gets confusing! Just to add to what others have said - the vesting date is indeed your acquisition date for tax purposes, but here's something that tripped me up initially: make sure you're getting the correct cost basis on your 1099-B forms. My brokerage (also Fidelity) sometimes reports the cost basis as $0 for RSU sales, which would make it look like the entire sale amount is taxable gain. But since you already paid income tax on the FMV at vesting, you need to adjust this. Your actual cost basis should be the fair market value on the vest date that was reported on your W-2. For the wash sale concern - yes, be very careful if you have quarterly vesting. I made the mistake of selling some underwater RSUs in November and then had new ones vest in December of the same stock. Had to deal with wash sale adjustments that were a real headache. Now I time any sales to avoid the 30-day window around vesting dates. One tip: keep really good records of your vest dates and the stock price on those dates. You'll need this info for years to come, especially if you hold shares long-term.