This conversation really hits home for me. I've been dealing with basis tracking nightmares for years, and honestly, the inconsistency across the profession is shocking. What really bothers me is when I take on a new client from another firm and find out they've been completely ignoring basis tracking for their S-corp investments. Then the client gets hit with unexpected tax consequences on distributions because nobody bothered to track their stock basis properly. I've started building basis tracking into my engagement letters as a standard service for any client with partnership or S-corp interests. Yes, it adds to the fee, but I explain to clients that it's like maintaining financial records - you can skip it until you need it, but then it costs way more to reconstruct everything retroactively. The tools mentioned here like TaxR.ai sound promising - I'm definitely going to check those out. Anything that can automate the tedious data entry while maintaining accuracy would be a game changer. Right now I'm spending way too much time on manual Excel work when I could be focusing on higher-level tax planning for my clients.

I've been following this discussion with great interest, and it's reassuring to see I'm not the only one who takes basis tracking seriously! As someone who's been in public accounting for over a decade, I've seen the consequences of poor basis tracking far too many times. What really frustrates me is when clients come to us from other firms and we discover years of neglected basis calculations. Just last month, I had a client who sold their partnership interest and the selling firm tried to calculate gain using completely incorrect basis assumptions. We had to go back five years to reconstruct everything properly, which delayed the filing and cost the client thousands in additional fees. I'm definitely intrigued by the AI tools mentioned here like TaxR.ai. The time savings alone would be worth it, but more importantly, having consistent automated calculations could help reduce errors. I'm also curious about ClaimYR for getting historical IRS data - that could be a lifesaver for those reconstruction situations. One thing I'd add is that basis tracking becomes even more critical with the current economic environment. We're seeing more partnership distributions and S-corp redemptions as businesses navigate cash flow challenges, which means basis calculations are happening more frequently than in stable times. The "wait until we need it" approach just isn't sustainable anymore.

just went thru this! finally got my refund after verifying. took about 2.5 months total but at least it came thru

I got a 474C letter about 6 months ago for my 2022 return. The whole process was actually pretty straightforward once I got the letter - you can verify online through ID.me or call the number they give you. I chose the online route and it took maybe 20 minutes to upload my documents and verify my identity. The hardest part is honestly just waiting for the letter to arrive in the first place! But once you complete the verification, your return should process normally. Hope this helps ease some of your worries!

Just wanted to share our experience from this tax season! My husband and I filed MFJ in early February, and I was really anxious about whether I'd be able to see our transcripts since I'm listed as the secondary taxpayer. Following the advice in this thread, I checked my IRS account about 2 weeks after my husband could see the transcripts, and sure enough, they appeared! One thing I noticed that might be helpful for others: when I first logged in and couldn't see anything, I was worried something was wrong. But I remembered reading here that the delays are normal, so I just waited instead of panicking. The transcripts that eventually showed up in my account were identical to what my husband could see - same information, same formatting, everything. For anyone in the same situation: be patient, both spouses will get access, and don't stress if there's a delay! The system works, it just takes a bit longer for secondary taxpayers.

Great question! I went through this exact same situation when my partner and I filed jointly for the first time in 2022. Both spouses will eventually have full access to the joint return transcripts through their individual IRS accounts, but there's typically a delay for the secondary taxpayer (spouse listed second on the return). In our case, my partner could see our transcripts about 3 weeks after e-filing, while I had to wait an additional 8-10 days. The IRS processes primary taxpayer access first through their Master File system, then updates secondary taxpayer accounts in subsequent batch cycles. A few things that helped us: - Both creating verified IRS online accounts before filing season - Making sure all personal info matched exactly between our accounts and tax return - Being patient rather than calling repeatedly (the delay is completely normal) The transcripts will show both of your names and SSNs when they appear, and the information will be identical regardless of which spouse is viewing them. Don't worry if yours takes a bit longer to appear - it's just how their system works!

Something else to consider - Washington has no state income tax while Texas also has no state income tax. But sometimes states without income tax have higher withholding requirements for other things. Did you check if there were other state-specific deductions that might explain the difference? Maybe look at the full paystub breakdown.

The most likely explanation for your situation is a combination of the W-4 differences others mentioned plus the pay frequency issue. Moving from bi-weekly (Texas) to weekly (Washington) pay while also changing how you filled out your W-4 could easily create that 4x difference in withholding. Here's what probably happened: In Texas with 2 allowances on the old W-4 form, you were telling the system to withhold less. Then in Washington, you filled out the new W-4 as "Single" with no adjustments, AND the weekly pay frequency made the system think you were earning a higher annual salary than you actually were. The withholding system multiplies your weekly pay by 52 weeks to estimate your annual income, which might have pushed you into a higher projected tax bracket for withholding purposes. Combined with the more conservative withholding on the new W-4 form, this created the perfect storm for over-withholding. The good news is you'll likely get most of that extra withholding back as a refund when you file your taxes. For future jobs, make sure to fill out your W-4 carefully and consider using the IRS withholding calculator to get the right amount withheld.

When I had both W2 and 1099 income, I learned that if you physically go to an IRS Taxpayer Assistance Center, they sometimes offer free tax prep services if your income is below certain limits. You need to call to make an appointment though. Also check if your local library or community center offers VITA (Volunteer Income Tax Assistance) services. They'll do your taxes for free including Schedule C if your income is under about $60k.

Just to add another perspective - I had a very similar situation with W2 income from two states plus freelance 1099 income. After trying multiple free options, I ended up going with H&R Block's online service. They have a mid-tier option that handles both W2 and Schedule C filing for around $50, which was way cheaper than their in-person service. What really helped me was their interview-style questions that walked me through the multi-state income reporting step by step. They automatically calculated how much state tax I owed to each state based on where I earned the income, which was exactly what I needed for my Colorado/Nevada situation. The key thing I learned is that while you definitely can't split your filing like you originally asked, there are affordable options beyond the expensive TurboTax upgrades. Don't feel like you're stuck paying premium prices just because you have mixed income sources!