Pay nothing until a live IRS agent is on the phone with you.
Can't reach IRS? Claimyr calls for you, so you don't have to wait on hold.
$0 upfront. We only hold your card.
No live agent, no charge.
$9.99 is charged only once a live IRS agent is on the phone with you.
Using Claimyr will:
- Connect you to a human agent at the IRS
- Skip the long phone menu
- Call the correct department
- Redial until on hold
- Forward a call to your phone with reduced hold time
- Give you free callbacks if the IRS drops your call
Ask the community...
- DO post questions about your issues.
- DO answer questions and support each other.
- DO post tips & tricks to help folks.
- DO NOT post call problems here - there is a support tab at the top for that :)
Join the conversation
Join the conversation
Anyone use TurboTax for reporting rental property renovations? I'm doing a similar project and wonder if it handles all these complicated depreciation schedules and passive loss limitations correctly?
I used TurboTax Premier last year for my rental property and it worked pretty well. It asks you to categorize each expense as either a repair or improvement and then sets up the depreciation schedules automatically. It also calculates the passive loss limitations based on your income. Just make sure you have good records of all your expenses categorized properly before you start.
Based on my experience with similar rental property renovations, you'll want to be very careful about how you classify these expenses. The IRS is pretty strict about the repair vs. improvement distinction, and a $65,000 "complete renovation" will likely be treated as capital improvements requiring depreciation over 27.5 years rather than immediate deductions. However, you might be able to break out some components as repairs if they're truly fixing existing problems rather than upgrading. For example, if you're replacing broken tiles with identical ones, that's a repair. But if you're upgrading from basic tile to granite countertops, that's an improvement. The good news is that with the $25,000 passive loss allowance (assuming your income qualifies), you can still deduct a significant portion against your regular income even if you have depreciated losses. Any unused losses carry forward indefinitely, so you're not losing the tax benefit entirely - just spreading it out over time. I'd strongly recommend getting professional help for this level of renovation expense. The classification decisions you make now will impact your taxes for decades, and getting it wrong could be costly if you're audited.
Join the conversation
Last year after verification my return was processed in exactly 5 weeks. 2022 took like 10 weeks. Its totally random and depends on their workload. If you claimed credits like EITC or CTC it definitely takes longer cuz they have extra verification steps.
I feel your pain! I went through the exact same thing earlier this year. After entering my ID.me verification code, it took about 6 weeks before I actually got my refund. The verification step is just the beginning - your return still has to go through their regular processing pipeline after that. Since you claimed the Child Tax Credit (saw your other comments), that's definitely adding time. The IRS is doing extra reviews on all CTC claims this year. My advice is to check your tax transcript like others mentioned - it'll show you the actual processing codes and give you a better idea of where things stand than the "Where's My Refund" tool. At 3 weeks you're still within the realm of normal, unfortunately. I know it's frustrating when you're counting on that money, but hang in there!
Join the conversation
This is a great reminder about record keeping! I'd also suggest setting up a dedicated email folder for tax documents and using it consistently each year. I forward all my tax-related emails (W-2s, 1099s, property tax statements, etc.) to a specific folder, and at year-end I download everything as PDFs. This way I have a complete digital trail that's searchable if I need to find specific information years later. I also use a simple spreadsheet to track key numbers from each year's return - things like AGI, taxable income, and yes, AMTI if applicable. Takes 10 minutes after filing but saves hours of hunting later.
For future reference, the IRS also allows you to request a "Record of Account" transcript online through their website (irs.gov) which will show if Form 6251 was filed with your 2021 return. This is often faster than calling and can be accessed 24/7. If the transcript shows Form 6251 was filed, you can then request a "Return Transcript" to get the actual form data including line 4 (AMTI). In the meantime, for TurboTax's worksheet, you might try entering "0" for the AMTI field if you're confident you weren't subject to AMT last year - the software should handle the calculation appropriately. Just make sure to double-check the final AMT calculation on your current year's return to ensure it makes sense. If you're still uncertain, consider consulting a tax professional for this specific situation since AMT calculations can have long-term carryover implications.
If the Record of Account transcript shows Form 6251 was NOT filed, it means you weren't subject to AMT that year, but your AMTI still exists conceptually - it just wasn't high enough to trigger the AMT. For TurboTax's purposes, you'll likely need to calculate an approximate AMTI rather than using zero. The safest approach is to start with your 2021 taxable income (Form 1040, line 15) and add back the standard AMT adjustments: state and local tax deductions, miscellaneous itemized deductions, and any private activity bond interest. This gives you a reasonable AMTI estimate that maintains proper carryover calculations. Using zero could create issues because TurboTax uses these numbers to calculate capital loss carryovers and other multi-year adjustments. Even if you weren't subject to AMT, having an accurate AMTI helps ensure your current year calculations are correct. When in doubt, the "taxable income plus SALT deduction" formula mentioned by others is usually a good approximation for most taxpayers.
If the Record of Account transcript shows Form 6251 was NOT filed, it means you likely weren't subject to AMT that year, but your AMTI still exists conceptually - it just wasn't high enough to trigger AMT liability. For TurboTax's worksheet, you shouldn't use zero because that could throw off the carryover calculations. Instead, you'd want to calculate your theoretical AMTI by starting with your regular taxable income and making the standard AMT adjustments (adding back state/local taxes, certain deductions, etc.). This gives you the AMTI that would have been on line 4 of Form 6251 if you had filed it. The key is that even if you didn't owe AMT, the AMTI calculation is still relevant for carryover purposes. I'd recommend using one of the calculation methods mentioned earlier in this thread rather than entering zero, as this will ensure your current year's AMT calculations are based on accurate prior year data.
Join the conversation
Whatever you do, DON'T just cash it and give her the money! My uncle did this with my grandma's ticket and the IRS came after him for unreported income when he couldn't explain the large deposit. Plus they thought he was trying to hide assets for some reason and he got audited. Huge mess that took like 2 years to resolve!
Did your uncle have to pay penalties or just the taxes on the winnings? Trying to figure out how bad the consequences really are.
As someone who works in tax preparation, I can't stress enough how important it is to handle this correctly from the start. The power of attorney approach mentioned by Andre is absolutely the right way to go. I've seen too many cases where well-meaning family members cash lottery tickets and create unnecessary tax complications. Even if you report the winnings as income and then claim you gave the money as a gift, the IRS can question the legitimacy of this arrangement, especially with larger amounts. Most state lottery commissions are actually very accommodating when it comes to mobility issues or situations where the winner can't physically claim the prize themselves. They deal with this regularly and have established procedures. The key is doing the paperwork upfront rather than trying to sort it out after the fact. Also, keep detailed documentation of everything - the original ticket, any forms you complete, communications with the lottery commission, and how the money is transferred to your aunt. This will protect both of you if there are ever any questions about the transaction.
Great question! Most lottery commissions do require their own specific forms rather than accepting general power of attorney documents. Each state has different requirements, but they typically have a "Third Party Claim Form" or "Prize Claim Authorization" that's designed specifically for this situation. For documentation, I'd recommend: 1) Photos of the original ticket (front and back), 2) Copies of all completed forms, 3) Any correspondence with the lottery commission, 4) Bank deposit records showing where the money went, and 5) A simple written statement explaining the situation signed by both you and your grandmother. The most important thing tax-wise is proving that your grandmother was the actual purchaser and winner of the ticket, and that you were acting solely as her representative. The IRS cares more about establishing the true ownership of the winnings than the specific mechanics of how it was claimed. Since you mentioned claim deadlines, I'd call your state lottery commission ASAP to ask about their specific process and timeline. Most are pretty quick to email or fax the required forms once you explain the situation.
Great questions! Most lottery commissions prefer their own specific forms rather than generic power of attorney documents, especially for prize claims. These forms are usually called something like "Prize Claim Authorization" or "Third Party Claim Form" and they're designed specifically for lottery situations. I'd recommend calling your state lottery commission first to ask what they require - it could save you time and ensure you have the right paperwork. For documentation, definitely photograph the original ticket (front and back) before you do anything else. Keep copies of any forms you submit, correspondence with the lottery office, and the actual check when you receive it. From a tax perspective, the most crucial thing is maintaining a clear paper trail showing that your grandmother was the actual winner and that you were acting as her authorized representative throughout the process. The claim deadline is usually pretty generous (often 180 days to a year depending on the state), but don't wait too long since getting the right paperwork can sometimes take a few days. Good luck with your grandmother's claim!
Eli Wang
Has anyone used TurboTax for reporting these recharacterizations with code N? I'm seeing a different question than what the original poster mentioned in TaxSlayer, and I'm not sure if I'm entering everything correctly.
0 coins
Cassandra Moon
•I used TurboTax for exactly this situation. When you enter the 1099-R with code N, it will ask something like "Did you move this money to another retirement account?" rather than specifically using the word "rollover." Just answer "yes" to that question. TurboTax will then take you through additional screens to confirm it was a recharacterization. Make sure you also complete Form 8606 if you did the backdoor Roth conversion afterward. TurboTax has a separate section for entering that conversion transaction. It's a bit hidden in the Deductions & Credits section under "Retirement & Investments.
0 coins
Dylan Hughes
Just wanted to add another perspective here - I went through this exact same scenario last year and can confirm that answering "yes" to the rollover question for code N is correct. The key thing to understand is that tax software is really asking whether the money stayed within the retirement account system rather than being distributed to you personally. One thing I'd recommend is keeping really good records of all these transactions. I created a simple spreadsheet tracking: (1) original Roth contribution amount and date, (2) account value at recharacterization date, (3) recharacterization amount and date, and (4) conversion back to Roth amount and date. This made it much easier to fill out Form 8606 correctly and will be helpful if you ever get audited. Also, double-check that your IRA custodian reported everything correctly on the 1099-R forms. I caught an error where they initially coded my recharacterization as a regular distribution instead of code N, which would have caused major tax issues if I hadn't noticed and gotten it corrected.
0 coins