I'd recommend setting up automatic transfers to make saving for taxes easier! Most banks let you schedule weekly transfers from checking to savings. You could set it up to transfer a percentage right after each payday so you never have to think about it. Regarding the 20-25% - that should be your total tax obligation, not on top of what's already withheld. So if you had $100 in tips and $50 in wages ($150 total), you'd want to set aside about $30-37 total for taxes. If $10 was already withheld from your paycheck, you'd only need to save an additional $20-27 from your tips. You can also look into apps like Qapital or Digit that automatically round up purchases and save the difference, or save a percentage of your income. Some people find it easier than manual transfers since it happens automatically in the background.

This is such a helpful thread! I'm dealing with a similar situation at my restaurant job. One thing I'd add is to make sure you're tracking your daily tip income accurately - I use a simple notes app on my phone to record tips each shift, including both cash and credit card tips. This helps me stay on top of how much I should be setting aside for taxes. Also, don't forget that you can deduct work-related expenses like non-slip shoes, uniforms (if not provided), and even a portion of your phone bill if you use it for work. These deductions can help offset some of the tax liability from your tip income. I learned this the hard way after my first year serving when I owed way more than expected! One more tip: if your employer uses a point-of-sale system that tracks credit card tips, ask if you can get monthly or quarterly reports of your tip income. It makes tax time so much easier when you have everything documented rather than trying to reconstruct your earnings from memory.

I'm in almost the exact same timeline as you! Filed in January, amended in April, and just saw the 810 freeze code appear on my transcript this week. The not knowing is driving me crazy - like you said, the anxiety about the wait time is real. I've been reading that some people's amended returns get processed faster than the 20-week estimate, but it seems pretty hit or miss. Really hoping we both get some movement on our accounts soon! Keep us posted if you see any changes on your transcript 🤞

I'm going through the exact same thing! Filed in January, amended in April, and just got the 810 freeze code last week. The waiting is absolutely brutal - especially when you're expecting money back and have no real timeline. I've been checking my transcript daily hoping for updates but it's just been the same freeze code staring back at me. From what I've read, some people get lucky and their amended returns process faster than the 20 weeks, but it seems totally random. Really hoping we all get some movement soon because this uncertainty is killing me! 😤

Does anyone know if the "Mixed straddle election" is permanent? Like if I check that box this year, am I stuck with that choice forever? I'm doing some SPX options along with SPY options and trying to figure out if this counts as a mixed straddle situation.

I've been dealing with Form 6781 for my SPX trading for a few years now, and I totally understand your frustration with the desktop version. Here's what I've learned: For those checkboxes, you're overthinking it - if you're just doing standard SPX and VIX options trading without any complex strategies, you probably don't need to check ANY of the boxes. The normal 60/40 tax treatment (60% long-term, 40% short-term) happens automatically for section 1256 contracts without any elections. Only check "Net section 1256 contracts loss election" if you have losses this year AND you want to carry them back to offset gains from the previous 3 years. This requires amending prior returns, so it's only worth it if you had significant gains in those years. For question 8, I just put "Interactive Brokers Options Account" or whatever your actual brokerage is called. Keep it simple. Pro tip: Make sure you're capturing all your section 1256 positions at year-end market value, even the ones you're still holding. The mark-to-market rules mean you report unrealized gains/losses too, which a lot of first-timers miss.

I've been following this thread and wanted to add some practical insights from my experience as a tax professional who frequently deals with real estate professional status claims. One critical point that hasn't been fully addressed is the timing of your marriage and how it affects your qualification. Since you're marrying in April, you'll need to be extra careful about how you structure your activities for the rest of the year. The IRS will look at your combined filing status, but they'll also scrutinize whether your real estate activities were truly "businesses" versus personal projects that became businesses after marriage for tax purposes. For your farmhouse renovation to count, you'll need to establish that it was a business from day one - not just something that became a business when you realized the tax benefits. Document everything: your business plan, market research showing why you chose this property, renovation budget focused on maximizing resale value, and keep detailed contemporaneous time logs. Regarding the 200+ unit rental property - the election to treat all rental activities as one is powerful, but be prepared for IRS scrutiny when combining a hands-off managed property with hands-on renovation work. You'll need to show some level of involvement in the rental business beyond just making the election. This could be reviewing management reports, making strategic decisions about the property, or participating in major decisions even if day-to-day management is delegated. The key is creating a clear paper trail that shows legitimate business activity, not just tax avoidance. Make sure every hour you claim is defensible and directly related to your real estate businesses.

Welcome to the community! Great questions about documentation and audit experiences. For managed rental properties, I've found that monthly or quarterly formal reviews work well, but the key is showing you're making actual business decisions, not just rubber-stamping management company recommendations. Document when you approve major repairs, review financial statements, make decisions about rent increases, or evaluate property improvements. Even remote oversight counts if you can show genuine involvement in business decisions. I went through an audit in 2019 for real estate professional status. The documentation that saved me was: - Daily time logs with specific activities (not just "worked on property") - Photos with timestamps showing renovation progress - Email chains with contractors, suppliers, and advisors - Bank statements showing business expenses tied to logged hours - A simple spreadsheet tracking each property's income/expenses that I updated weekly The IRS agent specifically commented that my contemporaneous records and the clear business purpose behind each activity made the difference. They weren't just looking at total hours, but whether each claimed hour represented legitimate business activity. One thing that surprised me during the audit - they asked detailed questions about my spouse's involvement and whether I was truly the one performing the work versus just claiming credit for others' activities. Having clear documentation of who did what was crucial. The agent also wanted to see evidence that I was treating this as a real business - business bank account, separate bookkeeping, and treating profits/losses seriously rather than just focusing on tax benefits.

This is a really helpful thread! I'm dealing with a similar SEHI deduction issue as an S-Corp owner. Just to clarify - when you manually entered the APTC repayment amount in the S Corp Health Insurance Premiums field, did you enter the full APTC repayment amount, or did you have to calculate some percentage of it? I'm trying to figure out if the entire APTC repayment becomes eligible for SEHI deduction, or if there's additional calculation needed based on the number of months covered or income levels. My APTC repayment was about $1,800 but I want to make sure I'm not claiming more SEHI deduction than I'm actually entitled to. Also, for anyone who's been through an audit - do you know if the IRS typically scrutinizes SEHI deductions heavily when they're manually entered like this instead of being automatically calculated by the software?

This is exactly the kind of issue that made me switch to working with a CPA for my S-Corp taxes. I spent countless hours trying to figure out the SEHI deduction with APTC complications across different software platforms and kept getting different results. What I learned from my CPA is that the interaction between APTC repayments and SEHI deductions is one of the most commonly mishandled calculations in DIY tax software. The issue isn't just with FreeTaxUSA - it's that the tax code requirements are complex and most software companies haven't invested in programming all the edge cases properly. My recommendation for S-Corp owners dealing with health insurance deductions: if your APTC repayment is significant (over $1,000), it might be worth having a tax professional review your return even if you prepare it yourself. The potential savings from getting the SEHI deduction right often outweigh the cost of a consultation, and you'll have peace of mind that everything is documented correctly for audit purposes. For those sticking with DIY, definitely keep detailed records of your health insurance premium payments, APTC statements, and any calculations you make. The IRS wants to see that you can substantiate every dollar of the SEHI deduction if questioned.