Been through this process multiple times - the refund advance option typically shows up right after TurboTax calculates your expected refund amount, usually on the review page before final submission. But honestly, unless you're in a real emergency, I'd skip it. The fees and interest rates are pretty brutal. If you really need the money fast, maybe consider a small personal loan from a credit union instead? Much better rates usually.

Just went through this yesterday! The refund advance option showed up right after I entered all my info and TurboTax calculated my refund amount - it was on the page where they show you the breakdown of federal/state refunds. But honestly, after reading all these comments about the fees, I decided to skip it. My refund is only like $800 anyway so probably wouldn't qualify. Thanks everyone for the heads up about those crazy interest rates! 🙏

I've been following this thread as someone who went through a similar multi-state move situation last year (Massachusetts to North Carolina), and I wanted to share a few additional tips that helped me navigate the estimated payment requirements. First, don't forget about local taxes! Some cities and counties have their own income taxes that you'll need to factor into your calculations. When I lived in Massachusetts, I didn't have local income tax, but some areas in North Carolina do have local taxes that caught me off guard. Second, if you're self-employed or have significant non-wage income (freelance work, investment income, etc.), the multi-state move can get even more complex. You might need to allocate that income between states based on where you performed the work or where the income was sourced. I had some consulting income that I had to split between states based on where the work was actually performed. Finally, I'd recommend setting up a simple spreadsheet to track your income by state and quarter. It makes the estimated payment calculations much easier and will be invaluable when you're preparing your returns next year. I wish I had done this from the beginning instead of trying to recreate everything at tax time. The tools mentioned here (especially taxr.ai for document analysis) sound like they would have saved me a lot of time and confusion. Definitely going to bookmark this thread for future reference!

This has been such an incredibly helpful thread! As someone who's been lurking in tax forums for years, I rarely see such comprehensive, real-world advice all in one place. I'm actually facing a potential move from Michigan to Florida next year for a job opportunity, and reading through everyone's experiences has given me so much insight into what I need to plan for. The tip about timing the move strategically (early in the year to a no-tax state) is something I hadn't considered but makes total sense. A couple of questions for the group: 1. For those who used tax professionals during multi-state moves, how did you find ones who were knowledgeable about both states' rules? I'm worried about ending up with someone who's only familiar with one jurisdiction. 2. Has anyone dealt with employer stock options or RSUs during a multi-state move? I'm wondering if there are special considerations for how those get allocated between states. The tools mentioned here (taxr.ai, Claimyr) sound like they could be game-changers for complex situations like these. Definitely going to check them out as I start planning for this potential move. Thanks to everyone for sharing such detailed, practical advice!

I just went through this exact same situation last month! For a mortgage that started mid-year like yours (March 2022), you're correct that you only need to calculate the average for the months you actually had the mortgage. Here's what I did and what the IRS accepted: I took my initial loan balance from March 2022 and my December 2022 ending balance, added them together, and divided by 2. Since you made regular monthly payments but no large extra payments, this simple method should be fine. One thing that helped me was to also document which months I had the mortgage (March through December = 10 months) in case they asked follow-up questions. And yes, you're absolutely right about putting zeros for the grandfathered debt and pre-2017 sections since your mortgage is from 2022. The key is being able to show your work if they ask. Keep your mortgage statements handy and maybe jot down your calculation method in case you need to explain it later. Good luck with your audit - you've got this!

I've been through several audits over the years and Form 14900 can definitely be tricky! For your situation with a mortgage from 2022, you're on the right track. Since you only have one mortgage that started in March 2022, here's what I'd recommend: For the average balance calculation, use the principal balance from when you first got the mortgage in March and the principal balance at the end of December 2022. Add those two numbers together and divide by 2. This gives you the average balance for the period you actually held the mortgage. You're absolutely correct about putting zeros in the grandfathered debt and pre-2017 sections since your mortgage is from 2022. One tip from my experience: keep detailed documentation of how you calculated everything. Create a simple note showing your March 2022 starting balance, your December 2022 ending balance, and how you arrived at the average. The IRS appreciates transparency and it makes any follow-up questions much easier to handle. Also, double-check that your mortgage was purely for home acquisition (buying the house) and not a cash-out refinance used for other purposes, since that would affect how you categorize the debt on the form. Hang in there - audits are stressful but you seem to have a straightforward situation that should resolve smoothly!

Does anyone know if we need to include the dash when entering the Payer's TIN/Federal ID into tax software? Mine is formatted like XX-XXXXXXX on the form, but some websites only want numbers with no special characters.

This is such a helpful thread! I was in the exact same situation last month with my 1099-INT from the IRS. I spent way too much time searching online before I found this community. Just to add to what others have said - when you receive interest on your tax refund, it's because the IRS took longer than 45 days to process your return. The interest is considered taxable income, which is why they send the 1099-INT form. For anyone still confused, here's what I learned: The "Payer's Federal Identification Number" on your 1099-INT IS the TIN you need to enter. Don't overthink it - just copy that number exactly as it appears on the form (with or without dashes depending on what your tax software accepts). The amount might seem small, but the IRS already knows about it since they issued the form, so definitely include it on your return to avoid any potential issues down the road.

This has been such an incredibly comprehensive discussion! As a newcomer to this community, I'm amazed by the depth of expertise shared here. I had no idea that Canadians could potentially fare better than Americans in high-tax states - that's a fascinating twist I never would have considered. One question I haven't seen addressed yet: what about the implications for Canadian snowbirds who spend significant time in the US? If someone spends 4-6 months annually in Florida and wins while there, could that potentially affect their tax status or the withholding rates? I'm thinking about the substantial presence test and whether extended US residence time could complicate the non-resident status that seems central to the 30% withholding rate. Also, with all the excellent advice about assembling professional teams before claiming, I'm wondering if there are any specific timeline considerations. Obviously you have 180 days to a year to claim, but are there any advantages to claiming earlier versus later in that window? For instance, does claiming in a different calendar year affect any of the reporting requirements or investment income timing that people have mentioned? The point about currency hedging strategies is brilliant - never would have thought about that, but with amounts this large, even small exchange rate movements could be worth millions. Definitely adds another layer to the "assemble your team first" advice!

As a Canadian who occasionally crosses into New York to buy tickets, this thread has been absolutely eye-opening! I had no idea about the 30% withholding or that we might actually come out ahead compared to Americans in high-tax states. One thing I'm curious about that hasn't been fully explored - what happens with provincial health insurance coverage if you suddenly have hundreds of millions in assets? I know some provinces have wealth-based premiums or considerations. Would winning a massive US lottery affect things like OHIP eligibility or premiums in Ontario? Also, regarding the excellent advice about currency hedging - are there any minimum amounts where this becomes practical? I imagine the hedging strategies mentioned would only make sense for very large wins, but at what threshold would it be worth considering versus just accepting the exchange rate risk? The discussion about taking time to assemble your professional team before claiming really resonates. It's so counterintuitive because every instinct would be to rush and claim immediately, but clearly the upfront planning could save enormous amounts. For those of us who buy tickets occasionally, it seems like having at least a basic understanding of these issues beforehand would be valuable, even if the odds of winning are astronomical. Thanks to everyone who has shared their expertise here - this should definitely be required reading for any Canadian buying US lottery tickets!