This "Status Not Available" with Tax Topic 152 is definitely frustrating, but it's actually become pretty common this filing season. I went through the exact same thing last month - had normal tracking for about 2 weeks, then boom, suddenly got this cryptic message. What helped me understand what was happening was checking my account transcript on the IRS website. The WMR tool can be unreliable, but your transcript will show if there are any actual holds or issues with your return. Look for transaction codes like 570 (additional account action pending) or 971 (notice issued) which would indicate if there's a specific reason for the delay. In my case, it turned out to be routine identity verification - got a CP05A notice about a week after the status changed asking me to verify my identity online. Once I did that, my refund was issued within 9 business days. The 21-day timeframe is more of a guideline now rather than a hard rule. With all the fraud prevention measures they've added, a lot of returns are taking 4-6 weeks even when there's nothing wrong. Keep checking weekly but try not to stress too much - as long as you filed accurately, your refund will come through eventually!

I'm dealing with the exact same situation right now! Filed on January 15th and just got hit with this "Status Not Available" message yesterday. It's so nerve-wracking when you go from having some kind of status to basically being told they can't tell you anything. I've been reading through all these comments and it sounds like this is just the new normal for 2025 tax season. The IRS seems to be running extra security checks on way more returns than usual. I'm trying to stay patient but it's hard when you're counting on that refund money. @Emma Taylor your advice about checking the transcript is golden - I just pulled mine and can see some activity that WMR isn't showing. For anyone else dealing with this, definitely check your IRS online account for your transcript. It's way more detailed than the Where's My Refund tool and might give you better insight into what's actually happening behind the scenes. Guess we're all just playing the waiting game together this year. At least we're not alone in this frustrating process! 🤞

This is such a comprehensive discussion on S-Corp partnership accounting! As someone who's been managing these complexities for several years, I'd like to add a few practical tips that have helped me streamline the process. First, I highly recommend creating a quarterly reconciliation schedule that tracks your K-1 income estimates versus actual distributions received. Most partnerships provide quarterly estimates, and tracking these helps you anticipate year-end adjustments and plan for any tax distributions needed. Second, don't overlook the importance of understanding your partnership's distribution policy. Some partnerships distribute based on current year income, while others may distribute prior year earnings or even return capital. Understanding this policy helps you predict cash flow and avoid basis surprises. Finally, for QBO users, I suggest creating a dedicated class or location code for all partnership-related transactions. This makes it much easier to pull reports showing all activity related to your LLC investments when it's time to prepare your 1120S or when your CPA needs supporting documentation. One last note - if your S-Corp has significant partnership investments, consider whether quarterly estimated tax payments are necessary. The timing differences between K-1 income and distributions can create cash flow challenges when personal tax bills come due, especially if the partnership retains most of its earnings.

Based on my experience with similar S-Corp/partnership structures, here's a systematic approach that's worked well for me: For your specific example ($45K K-1 income vs $35K distributions), the journal entry in QBO would be: Debit: Investment in LLC Partnership $45,000 Credit: Partnership Income $45,000 Then separately record the distribution: Debit: Cash $35,000 Credit: Investment in LLC Partnership $35,000 This leaves you with a $10,000 increase in your investment account representing undistributed earnings, and $45,000 of income flowing to your 1120S regardless of the cash received. One critical point - make sure you're tracking your tax basis separately from your book basis, especially if the partnership has debt that affects your basis calculation. The K-1 should show your share of partnership liabilities which increases your basis for tax purposes but doesn't necessarily affect your QBO investment account. Also, consider setting up a monthly accrual entry if you can reasonably estimate quarterly income. This smooths out the cash flow impact and helps with interim financial reporting. Many partnerships provide monthly or quarterly income estimates that make this feasible. The key is consistency - pick a method for handling the timing differences and stick with it throughout the year. Your 1120S will always report the full K-1 income regardless of distributions, so focus on making sure your investment account properly tracks your economic interest in the partnership.

If you're a non-resident on J1 visa, make sure you're also checking if your country has a tax treaty with the US! I'm from India and was on F1, and there were specific rules for investment income based on the treaty. The proceeds reporting is important but your tax liability might also be affected by treaty provisions.

As someone who went through this exact same confusion last year with my Robinhood 1099-B, I can confirm what others have said - you should select "Net Proceeds" even without seeing an explicit "N" marker on the form. Since you're using Sprintax as a non-resident alien, they're usually pretty good about handling these broker-specific quirks. When you get to that field, just select "Net Proceeds" and you'll be fine. The key thing to remember is that Robinhood reports net proceeds to the IRS by default, which is why there's no visible indicator on your form. One additional tip for J1 visa holders - make sure you're also checking if your home country has a tax treaty with the US that might affect how your investment income is taxed. Sprintax should handle this automatically, but it's worth verifying since treaty provisions can sometimes reduce your tax liability on investment gains.

I went through this exact same situation two years ago with H&R Block's software butchering my Form 5329 for a hardship withdrawal. You can definitely file Form 5329 separately - it's totally legitimate and the IRS processes thousands of these every year. A few critical things based on my experience: First, triple-check that ALL the identification info is complete and legible before mailing - your name, address, and especially your SSN need to be crystal clear. Second, don't forget to sign and date it! When filed separately, Form 5329 is considered its own return and must be signed. Third, if you're claiming an exception (like for medical expenses), write the exception type clearly in the margin next to the relevant line. I'd also strongly recommend sending it certified mail with return receipt so you have proof of delivery. The IRS can be slow processing paper forms, and having that receipt saved me when they initially claimed they never received mine. Your main return refund should process normally - filing the 5329 separately won't delay it. Just make sure you keep copies of everything and follow up in a few weeks to confirm it was received and processed correctly.

I had a similar issue with TurboTax messing up my Form 5329 last year for an early IRA withdrawal due to unemployment hardship. What worked for me was filing my main return electronically through TurboTax (without the problematic 5329) and then completing Form 5329 by hand and mailing it separately. When you file Form 5329 separately, make sure to: 1. Fill out the top section completely with your name, address, and SSN 2. Sign and date the form (it's considered its own tax return when filed separately) 3. For your medical expense waiver, write "Medical Expenses" clearly in the margin next to the appropriate line 4. Keep detailed records of your qualifying medical expenses - you don't need to attach them but the IRS could ask for documentation later I mailed mine certified mail and it took about 6-8 weeks to process, but my regular refund came through on schedule. The key is making sure all your identification info matches exactly between your main return and the separate 5329 so the IRS can properly match them in their system. Don't let the software issues delay your filing - this is a perfectly legitimate approach that thousands of taxpayers use every year!

Has anyone actually calculated their insolvency using the worksheet in Publication 4681? I'm trying to do this now and I'm confused about what counts as an asset. Do I include things like furniture and clothing? What about my laptop and phone?

Great thread! I went through this exact situation about 18 months ago with a cancelled credit card debt. One thing I'd add that really helped me was creating a detailed timeline showing when each debt was incurred versus when the cancellation happened. For your student loans, definitely contact your servicer directly - they can usually provide a "payoff statement" or balance verification letter for any specific date going back several years. I found that student loan companies are actually pretty good about providing historical documentation since they deal with tax-related requests frequently. Also, don't forget to include ALL liabilities - not just the obvious ones like loans. If you had any unpaid medical bills, credit card balances, or even money owed to family members at the time, those count toward proving insolvency. I initially missed some smaller debts and had to revise my worksheet. One last tip: when you send your response to the IRS, include a cover letter that clearly explains what you're providing and references the specific notice number. This helps ensure your documentation gets properly matched to your case. Good luck!