I'm confused about one thing - if the apartment is outside the US, don't you have to report it on FBAR and Form 8938 regardless of whether it's rental or personal? My accountant told me all foreign properties need to be disclosed even if they don't generate income.

This is a really complex situation that highlights how confusing tax software can be with edge cases. You're absolutely right that TurboTax should have caught this - when you entered "0" for both fair rental days and personal use days, that's mathematically impossible since the property exists somewhere for 365 days. Based on what others have explained here, it sounds like you need to go back and correct your filing. You should enter 365 days for personal use (since below-market rentals to friends/family are considered personal use), which would take you out of the Schedule E rental property track entirely. The good news is that if your maintenance fees are less than your property taxes, you likely don't need to report any income at all. But you should definitely get professional help or use one of the tools mentioned here to make sure you're handling the foreign aspects correctly - there are additional considerations for foreign properties that go beyond just the rental vs. personal determination. Don't feel bad about the confusion - this is one of those areas where the tax code is genuinely unclear and even tax professionals sometimes get it wrong!

Same thing happened to me last month! Got the 971 code and was panicking thinking something was wrong. Turns out it was just a simple verification letter asking me to confirm my identity online. Took like 5 minutes to complete and then my refund processed within 3 weeks. Don't stress too much - the majority of 971 notices are routine stuff, not anything serious. Just keep checking your mail and transcript regularly!

Hey Dylan! I totally understand the worry - seeing unfamiliar codes on your transcript can be really stressful, especially when you've been waiting months for your refund. The good news is that a 971 code is actually pretty routine! It just means the IRS is mailing you a notice, and like others have mentioned, it's often something simple like identity verification or confirming some information on your return. I went through something similar last year and the anticipation was honestly the worst part. My letter took about a week to arrive and it was just asking me to verify my identity online through ID.me - took maybe 10 minutes and my refund processed shortly after. Try not to stress too much while you wait for the mail! The fact that there's no amount listed with the code is actually normal and doesn't indicate a problem. Keep checking your mailbox over the next week or two and remember that most of these notices are just standard verification steps. You're definitely not alone in this - tons of people deal with 971 codes every tax season and it usually works out just fine! 😊

Just a heads up - when I had gambling winnings last year, it increased my AGI which ended up affecting my student loan income-based repayment calculation, even though my losses offset the gambling income. The full winnings got counted as income before deductions, which bumped my monthly payments by $175! Something to watch out for if you have income-sensitive programs.

This is such a helpful thread! I'm dealing with a similar situation but with online poker. I won about $15,000 through various online platforms, but also lost around $12,000. Most of my records are digital - screenshots of my account balances, withdrawal confirmations, and deposit records from my bank. One thing I'm wondering about is the timing aspect. Some of my biggest losses happened in December 2024, but my biggest wins were earlier in the year. Does the IRS care about the timing of when wins vs losses occurred within the same tax year, or do they just look at the total amounts? Also, has anyone dealt with reporting cryptocurrency gambling? Some of my poker winnings were paid out in Bitcoin, which adds another layer of complexity to the reporting. The AGI impact that @Aisha Rahman mentioned is really concerning - I hadn't thought about how this might affect other income-based calculations. Definitely something I need to factor in when deciding whether to itemize or take the standard deduction.

mine looked exactly like yours then got the offset letter a week later. check ur mail everyday

Been through this exact situation before! Your transcript looks normal for this stage - codes 150, 806, 766, and 768 are all good signs that your return is processing correctly. The missing 846 code just means they haven't issued the refund yet, which is totally normal. As for offsets, they usually don't show up on your transcript until after they happen, so you might not see any warning. I'd recommend calling the Treasury Offset Program at 800-304-3107 to check if you have any pending offsets - that way you'll know what to expect. The whole process can take 2-3 weeks from where you are now, so hang tight!

I'm skeptical about using these fintech platforms for something as important as tax refunds. Has anyone considered what happens if there's an issue? With traditional banks, you can walk into a branch and speak with someone. What recourse do you have with CashApp if something goes wrong? Compared to USAA or Chase where I've gotten refunds before, CashApp's customer service seems way more limited. And what about fraud protection? I've heard horror stories about accounts being frozen without warning.

CashApp is completely legitimate for tax refunds. I've helped dozens of people in my community set up their accounts for direct deposit, including tax refunds. The important thing is that you verified your identity with CashApp (the full process with SSN, etc.) before using it for your taxes. Some people skip that step and then wonder why there are problems. If you've already received your state refund without issues, that's a good sign your federal will process the same way. Just make sure you keep your app updated!