Just a tip - if your husband's ESPP is a qualified plan, there are special holding period rules that affect taxation. If he held the shares for at least 1 year from purchase AND 2 years from the offering date, any discount might qualify for better tax treatment.

I went through this exact same situation last year with my ESPP shares! The "non covered security" designation was so confusing at first. Here's what I learned that might help: Your husband will need to contact his company's stock plan administrator (usually listed on the 1099-B or his employee benefits portal) to get the original purchase details. They should be able to provide a statement showing the purchase date, number of shares bought, purchase price per share, and the fair market value on that date. For the cost basis calculation, it's typically the actual amount paid for the shares (the discounted price). So if he bought shares at a 15% discount, his cost basis would be that discounted purchase price multiplied by the number of shares. One thing to watch out for - depending on how long he held the shares, part of the discount might need to be reported as ordinary income on your tax return, separate from the capital gains/loss calculation. TurboTax Premier does handle this well, but make sure you have all the purchase documentation first. The good news is once you gather the paperwork, it's actually straightforward to enter into tax software. The hardest part is just getting the original purchase information from the company!

Anyone know if there's a minimum amount required for the home improvement exception? I only took out an extra $8k for some minor renovations during my refi.

This is such a frustrating aspect of the tax code! I went through the exact same thing last year when I refinanced to drop my rate from 7.2% to 4.9%. Paid $3,800 in points and was shocked to learn I couldn't deduct them all at once. What helped me understand it better is thinking about it this way: when you get your original mortgage, you're making a one-time purchase of your home, so the IRS treats the points as part of that acquisition cost. But with a refinance, you're essentially restructuring existing debt to get benefits (lower payments) that will accrue over many years. The good news is there are some exceptions worth knowing about. If you ever refinance again, you can deduct all the remaining unamortized points from your current loan in that year. Also, keep excellent records of your closing costs - if you ever do a cash-out refi for home improvements, those points can be deducted immediately for the improvement portion. I know it doesn't help the frustration of missing out on a bigger deduction this year, but at least you'll get some benefit each year going forward!

Yeah this is totally normal! I've seen this happen before where the IRS processes everything and assigns your 846 code with the deposit date, but the actual funds won't move until PATH officially lifts on Feb 15th. Your transcript is basically showing you that your return has been approved and they've scheduled when the money will be released. Don't worry about the date showing before PATH ends - that's just how their system works. The important thing is you got your 846 which means you're all set! 🎉

Same situation here! Filed with EIC and got my 846 code yesterday with a DD date of Feb 17th. From what I've learned lurking in these forums, it's totally normal to get the 846 before PATH lifts - it just means your return is processed and approved. The IRS basically queues everything up but can't actually release the funds until after Feb 15th. So even though your transcript shows an earlier date, the money won't actually move until PATH officially ends. At least we know our returns are good to go! 💸

I'm going through this exact same situation right now! Just moved back to my home country last month after my work visa expired, and I've been terrified to touch anything with my US investment accounts. Reading through everyone's experiences here has been incredibly reassuring. The consensus seems clear that physical presence determines tax status, not account addresses, which is a huge relief. I've been losing sleep thinking that having my old US address on file somehow meant I was still considered a US resident for tax purposes. I think I'm going to follow the advice here and be proactive about contacting my brokerage (Charles Schwab) this week to start the W-8BEN process. The stories about people successfully navigating this transition have given me confidence that it's manageable if you just communicate openly rather than trying to hide from it. One thing I'm still unclear on though - for those who filed dual-status returns, how did you handle investment income that was earned while you were still a US resident versus after you left? Did you have to track dividends and gains by specific dates, or is there a simpler way to allocate the income between your resident and non-resident periods? Also keeping detailed records of departure dates and residency establishment seems to be the key theme here. Starting a document today to track all the important dates and decisions. Thanks everyone for sharing your experiences - this community has been more helpful than hours of googling!

I went through this exact situation when I moved back to the UK after my visa expired two years ago. The most important thing to understand is that your tax residency status is determined by the substantial presence test and your actual physical location, NOT by what address your brokerage has on file. Since you've been out of the US for a few months, you're likely already considered a non-resident alien (NRA) for tax purposes from your departure date forward. This means you generally won't owe US capital gains tax on your stock and crypto sales, but you'll still have 30% withholding on any US dividends (potentially reduced by tax treaty if your home country has one with the US). However, you absolutely need to update your address with your financial institutions soon. I made the mistake of delaying this for almost a year, and while my account wasn't frozen, it did trigger compliance reviews that were stressful and time-consuming. Most major brokerages like Schwab, Fidelity, and Interactive Brokers actually have established processes for non-resident clients - they're more prepared for this than you might think. You'll need to file a W-8BEN form with each institution to establish your foreign status for tax withholding purposes. You'll also likely need to file a dual-status tax return for this year, treating part of the year as a US resident and part as NRA. Don't forget about tax obligations in your home country! Many countries will tax you on worldwide income once you establish residency there, which could include gains from your US investments. Keep detailed records of your departure date and when you established residency abroad - both countries' tax authorities will want this timeline. The anticipation and worry is honestly worse than actually dealing with it. Be proactive, document everything, and consider getting professional help for this transition year if the complexity feels overwhelming.

I'm in a very similar situation and this thread has been super helpful! My 846 date shows 2/26/24 but my processing date is 3/8/24, so I've been checking my bank account obsessively. Based on what everyone's saying here, it sounds like the 846 date is what really matters for when we'll actually see our money. One thing I'm curious about - has anyone noticed if the time of day matters? Like if the 846 date was on a Friday, does the refund usually hit over the weekend or does it wait until the next business day? I'm trying to figure out if I should expect it today (since my date was Monday) or if it might take until tomorrow or Wednesday. Also wanted to say thanks to everyone sharing their experiences - the IRS really should make this clearer instead of having us all play detective with these codes! 😅

I've been dealing with IRS transcripts for years and can confirm what most people are saying here - the 846 date is your golden number! That's when your refund was actually released by the IRS. The processing date is just internal paperwork that doesn't affect when you get your money. Since your 846 date was 2/22/24, your refund should have already hit your account if you used direct deposit. If it's been more than 5 business days since 2/22 and you still don't see it, I'd recommend: 1. Check with your bank first - sometimes deposits show as pending before they're fully available 2. Verify the account/routing numbers on your return match your bank account exactly 3. If everything checks out and it's still missing, then call the IRS The fact that your buddy got his in 2 weeks and your brother-in-law got his in 8 days is totally normal - everyone's return gets processed at different times depending on when they filed, what forms they used, and if there are any review flags. Don't stress too much about comparing timelines! Hope this helps ease some of the frustration. Tax season is stressful enough without having to decode these cryptic IRS codes! 😊