Just want to add one point of clarification that I haven't seen mentioned yet. The "a" columns on the 1040 serve different purposes for different types of income: - For line 2a (tax-exempt interest): This is NEVER included in your income calculation. - For line 3a (qualified dividends): This IS included in your income (as part of 3b), but is shown separately because it gets preferential tax rates. - For lines 4a-6a (retirement distributions): Only the taxable portions in the "b" columns are included in your income. For your pension rollover with code G, you're doing it right. The IRS requires reporting of rollovers even though they're not taxable events. That's why 5a shows the amount but 5b is zero.

This is a really helpful discussion! I'm dealing with a similar situation and want to make sure I understand the key takeaway: the "a" columns on lines 4-6 are basically "for information only" when it comes to calculating your actual taxable income, right? So if I have: - Line 4a (IRA): $15,000 - Line 4b (IRA): $3,000 - Line 5a (Pensions): $25,000 - Line 5b (Pensions): $0 Only the $3,000 from line 4b actually gets added to my total income, and the pension amount doesn't contribute anything to my AGI since 5b is zero? The IRS just wants to see the gross amounts that were distributed even if they weren't taxable events? I'm asking because I want to double-check my understanding before I file - I've been second-guessing myself on whether those "a" column amounts somehow get counted twice in the income calculation.

bruh the IRS is slower than my grandma using a smartphone fr fr 🐌

Don't panic! February 3rd was only 6 days ago, so you're still well within the normal timeframe. The IRS typically processes e-filed returns within 21 days, and transcripts usually update on Friday mornings. Since you filed on a Monday, your return is probably still in the queue for processing. I'd give it until at least February 21st before getting concerned. The transcript lag is totally normal - sometimes the "Where's My Refund" tool updates before transcripts do anyway.

Just wanted to add that checking your refund status obsessively doesn't make it come any faster lol. The "Where's My Refund" tool and the IRS2Go app only update once per day (usually overnight), so checking multiple times daily is pointless. I learned this the hard way after refreshing like 20 times a day my first time filing! Also, the IRS has a weird system where they use 3 status updates: Return Received, Refund Approved, and Refund Sent. The annoying part is you can sit on "Return Received" for weeks with no visible progress, then suddenly jump to "Refund Sent" on the same day. Don't panic if it seems stuck on the first status - that's normal.

Hey Jenna! Welcome to the world of taxes - it can definitely feel overwhelming at first, but you're asking all the right questions. Since you e-filed with direct deposit and this sounds like a straightforward return, you're very likely to get your refund within that 21-day window the IRS mentions. For most simple returns, it's actually closer to 10-14 days. Your roommates might be thinking of more complicated situations or remembering the delays from a few years ago during COVID. The 120-day timeline you saw online is probably for worst-case scenarios like paper filing, complex returns with multiple schedules, or situations where the IRS needs additional verification. Since you're in Boise, there's no special processing delay for your location - all e-filed returns go through the same national system regardless of where you live. Keep an eye on the "Where's My Refund" tool or download the IRS2Go app to track your status. Try not to check it obsessively though (it only updates once a day)! You should be getting your money soon. Congrats on filing your first return!

Henry, you're probably looking at the right transcript but might be missing where exactly to look! The cycle code isn't always super obvious. Try this: on your Account Transcript, look for the line with Transaction Code 150 (your return filing). To the right of that 150 code, you should see a date column, and then further right there should be a longer number - that's your cycle code. It might be formatted differently than you expect, sometimes appearing as something like "20242305" rather than with dashes or spaces. If you're still not seeing it, try refreshing your transcript download or double-check that you selected "Account Transcript" rather than "Return Transcript" when you requested it. The formatting can vary slightly depending on how you access it (online vs mail), but it should definitely be there on the 150 line!

I've been helping family members navigate this same confusion for years! One thing that really helped me was learning that the cycle code location can vary slightly depending on which processing center handled your return. If you're still having trouble finding it after checking the 150 line, look for any 8-digit number that starts with "2024" or "2025" (for current tax year) - that's likely your cycle code. Also, a pro tip: once you find your cycle code, write it down somewhere because the IRS transcript system can be slow to load, and you'll probably want to check it multiple times during tax season. I keep mine in a note on my phone along with the date I found it, which helps me track any updates. The cycle code has been surprisingly helpful for me in planning when to expect my refund, even though it's not 100% precise. Just remember that while it gives you a good estimate, there can always be processing delays or other factors that affect the actual deposit timing.

One warning about the S Corp mileage situation - if you don't do this correctly, it can be a huge audit flag! My brother-in-law got audited specifically because he was deducting mileage directly on his S Corp return without an accountable plan. The IRS disallowed all his mileage deductions for 3 years and hit him with penalties. Make sure whatever approach you take is properly documented. If you're using the accountable plan method, you need contemporaneous mileage logs (not created after the fact) and regular reimbursement payments that are clearly identified in your books.

This is exactly the situation I found myself in last year! The S Corp election creates this weird dynamic where you're simultaneously the owner and an employee, which definitely complicates vehicle deductions. Your accountant is 100% correct about needing the accountable plan. I learned this the hard way when I tried to just deduct mileage directly on my S Corp return and my CPA had to amend it. The key thing to understand is that once you elect S Corp status, the IRS treats you as an employee for certain purposes, and employees can't deduct unreimbursed business expenses on their personal returns anymore (thanks to the 2017 tax law changes). Here's what I did to set up my accountable plan: I created a simple written policy stating that my S Corp would reimburse me at the IRS standard mileage rate for documented business travel. I keep a detailed mileage log with date, destination, business purpose, and miles driven. Then I submit monthly reimbursement requests to my S Corp with supporting documentation. The reimbursements aren't taxable income to me, and my S Corp gets the full deduction. It's actually more tax-efficient than trying to deduct it personally would have been. The paperwork is a bit annoying, but it's worth it to stay compliant and maximize the tax benefits.