One important detail I didn't see mentioned yet - make sure you understand the difference between bullion coins like your Canadian Maple Leafs and numismatic (collectible) coins when it comes to dealer reporting requirements. For bullion coins, dealers are required to file Form 1099-B with the IRS when they purchase certain quantities from you (typically 25 or more 1oz gold coins of the same type). Since you mentioned selling "several" coins, you might be under this threshold, but it's worth knowing about. Even if you don't receive a 1099-B, you're still required to report the sale. However, if you do receive one, the form might only show the gross proceeds without your cost basis, so you'll need to make the proper adjustments on Form 8949. Also, regarding your question about cash sales - while cash transactions are common in the coin world, getting some form of receipt or documentation is always a good practice for your records. Even a simple handwritten receipt with the dealer's name, date, description of coins sold, and amount paid can be helpful documentation. The text messages from your uncle about the original purchase could actually be quite valuable as supporting documentation - the IRS generally accepts reasonable evidence when exact records aren't available.

Just to add another perspective on this - I dealt with a similar gold coin gift situation last year and learned a few things that might help you out. First, regarding documentation for the gift basis, I found that the IRS is generally reasonable about accepting reasonable estimates when exact records aren't available. Your uncle mentioning the approximate purchase price of $2,315 per coin is actually pretty good evidence. I'd recommend getting him to write a brief letter stating when he purchased the coins, approximately what he paid, and when he gifted them to you. Doesn't need to be notarized - just signed and dated. One thing I wish I'd known earlier is that you should also document the fair market value of the coins on the date you received the gift. This isn't needed for your tax calculation since you use the donor's basis, but it can be helpful information to have if there are ever any questions about whether gift tax should have been filed (though that would be your uncle's responsibility, not yours). Also, make sure you're clear on exactly which coins you sold if you still have others. The IRS likes specific identification of which assets were sold, especially with collectibles. If you sold 3 out of 5 coins, for example, you might want to specify which ones (by year or any other distinguishing characteristics) in your records. The good news is your gain calculation looks straightforward - about $180 per coin as others mentioned. Just remember that 28% is the maximum collectible rate, so if you're in a lower tax bracket, you'll pay less than that on the gains.

I actually made this exact switch last year and can share my experience! I had been paying for Premier for three years because of my 1099-B forms from Vanguard, but decided to test out Deluxe to save money. The good news is that Deluxe handled my investment income just fine. I had about 15 stock transactions and was able to import directly from Vanguard without any issues. The forms (Schedule D and 8949) were identical to what I used with Premier. The main difference I noticed was less hand-holding during the process. Premier had more explanatory text and investment-specific interview questions, while Deluxe was more straightforward. If you're comfortable with basic tax concepts and your transactions are standard buy/sell scenarios, you'll probably be fine with Deluxe. One tip: Before you commit, you can actually start your return in Deluxe for free and see how far you get. If you hit any roadblocks or feel like you need more guidance, you can always upgrade to Premier later without losing your work. This way you're not gambling with the $20 - you'll know for sure whether Deluxe meets your needs.

I've been following this discussion and wanted to share my own experience from this past tax season. Like many of you, I was torn between Deluxe and Premier specifically because of 1099-B stock sales from my Schwab account. I ended up going with Deluxe and it worked perfectly for my situation - about 25 stock transactions throughout the year. The import from Schwab pulled everything in smoothly, including all the cost basis information. The actual tax forms (Schedule D and 8949) were identical to what I would have gotten with Premier. The key difference I noticed was in the interview process. Premier asks more detailed questions about your investment activities and provides more explanatory text about things like wash sales, short-term vs long-term gains, etc. Deluxe is more direct - it assumes you understand the basics and just need to report the numbers. For anyone still deciding: if your stock transactions are straightforward buy/sell activities from major brokerages and you're comfortable with basic investment tax concepts, Deluxe should handle everything you need. The $20 savings is real and you're not sacrificing any actual functionality for standard investment income reporting.

Just had this issue myself! The fees should be listed on your Form 8879 if you did e-file. As for state refund, each state has its own tracker - what state u in?

You can also call the IRS at 1-800-829-1040 and ask them to walk you through your transcript over the phone. They can explain what each code means and break down any fees that were deducted. It's free and sometimes easier than trying to decode it all yourself. Just have your SSN and filing info ready when you call.

Has anyone used TurboTax to handle this kind of situation? I have a similar issue but I'm not sure if the software will walk me through it properly or if I need to see a professional.

I went through this exact same situation with my daughter last year when her part-time retail job gave her a 1099 for holiday bonuses instead of including them on her W-2. It's frustrating because these employers often don't realize they're making their employees pay extra taxes. After reading through all the great advice here, I'd strongly recommend starting with the taxr.ai approach that several people mentioned. Getting the employer to issue corrected forms is definitely the best outcome if possible. If that doesn't work, Form 8919 with code H is absolutely the way to go rather than filing as self-employed. One thing I learned is that you should keep documentation of her employee status (work schedule, how she receives assignments, whether she uses company equipment, etc.) in case there are ever questions about the classification. The IRS has specific tests for determining employee vs. contractor status, and performance bonuses paid to existing employees almost never qualify as contractor payments. Your stepdaughter shouldn't have to pay the employer's portion of payroll taxes just because they don't understand tax law properly!

Don't worry, you're totally normal! First time filing can be nerve-wracking but you're doing everything right. The transcript usually updates within 7-14 business days after your return is accepted. During peak season (like now) it can take longer. As long as you got that acceptance email, the IRS has your return and is processing it. The "N/A" status just means they haven't finished processing yet - not that anything's wrong. Hang in there!

Totally get the anxiety! I remember my first time e-filing - kept refreshing the transcript page like it was going to magically update faster 😅 You're doing everything right though. The acceptance email means the IRS has your return and it's in the queue. Transcripts typically update 1-2 weeks after acceptance, but during peak season (which we're in right now) it can stretch to 3 weeks. The "N/A" status is completely normal - it just means they're still processing. Try to resist the urge to check every day (easier said than done, I know!). Your refund will come through once processing is complete.