Another option nobody mentioned is the Section 179 deduction, which can sometimes be used for certain rental property improvements including HVAC systems, depending on your specific situation. But be careful - there are income limitations and it gets complicated for residential rentals. Actually, I just realized that Section 179 generally doesn't apply to residential rental property improvements... my bad. The 2017 tax law changes made this area confusing. Stick with the standard MACRS depreciation unless a tax pro tells you otherwise for your specific case.

I went through this exact same situation last year with my rental property HVAC replacement! The 27.5 year depreciation schedule definitely feels disconnected from reality when you know these systems typically last 12-15 years. What helped me was understanding that you have options when the old system is removed. You can elect to "dispose" of the remaining undepreciated basis of the old HVAC system, which allows you to deduct that remaining value in the year of replacement rather than continuing to depreciate something that no longer exists. For your $9,800 replacement, make sure you keep detailed records of the removal and installation. The IRS requires documentation that the old system was actually removed/disposed of to claim the remaining depreciation as a loss. Also, consider whether any portion of the work might qualify as repairs under the safe harbor election for small taxpayers (if your average annual gross receipts are $27M or less). Things like ductwork cleaning or minor component replacements might be immediately deductible rather than depreciable. The key is proper documentation and potentially working with a tax professional who understands rental property depreciation rules. The initial investment in good advice can save you thousands over the depreciation period.

Bit of a tangent, but what gambling log app do people recommend? I've been using a paper notebook which is getting unwieldy. Is there a good mobile app that lets you log sessions and wins/losses on the go?

This is exactly why I always recommend keeping contemporaneous notes while gambling! The key thing to remember is that your gambling log should reflect the actual time you were gambling, not when the casino's "gaming day" officially ends. Here's what I do: I note the actual calendar date and time when I start and stop gambling, regardless of what the casino considers their "gaming day." If I'm playing at 2am on February 15th, that's what goes in my log as February 15th activity. When I get a W-2G that shows February 14th for that same jackpot, I make a note in my log like "W-2G dated 2/14 due to casino gaming day policy" next to the February 15th entry. This creates a clear audit trail. The IRS has been pretty consistent that they want to see gambling activity tracked by actual calendar days, not casino accounting periods. Your approach of wanting to stay organized by calendar days is correct - just make sure you have those reconciliation notes to explain any date discrepancies on your tax forms.

I'm currently at day 38 since filing my amended return and still waiting for any notice. Reading through everyone's experiences here is both reassuring and nerve-wracking - it seems like 30-50 days is pretty typical, but the uncertainty is killing me! I've been checking my mailbox obsessively and even signed up for USPS Informed Delivery, though I see some folks mentioned notices don't always show up there. Has anyone had success checking their IRS transcript online to see if there are any codes indicating a review has started? I'm wondering if that might give me a heads up before the physical notice arrives. Also, for those who eventually got through to the IRS by phone - did you call right at 7 AM when they open, or is there a better time to avoid the longest wait times?

I'm at day 41 since filing my amended return and still no notice here either! This thread has been incredibly helpful - it's reassuring to know I'm not alone in this waiting game. Based on everyone's experiences, it seems like 30-50 days is the current norm, which means I should hopefully see something soon. I've been religiously checking my online transcript every few days and finally saw a transaction code 971 show up last week, which I believe indicates they've sent a notice. Now I'm just waiting for it to actually arrive in my mailbox. For what it's worth, I called the amended return hotline at 866-464-2050 (thanks @Hazel Garcia for that tip!) and while I still waited 2.5 hours, I did get through and the agent confirmed my return was received and is in the review queue. They couldn't give me an exact timeline but said notices are currently taking 6-8 weeks to be mailed out. Hang in there everyone - sounds like we're all in the same boat!

Just curious - did your payment method specify whose SSN the payment was for? When my husband and I pay, we make sure to include a note on electronic payments that specifies "1040 payment for [primary SSN]." Might help others avoid this situation in the future.

I went through this exact same nightmare last year! The frustrating thing is that when you file jointly, the IRS systems should automatically know to apply payments to the primary taxpayer's SSN, but their payment processing system doesn't always communicate properly with their return processing system. One thing that really helped me was getting a transcript of my account activity from the IRS website (you can get it instantly online if you have an account). This shows exactly when and how your payment was applied, and you can use it as evidence when you talk to an agent. It's under "Get Transcript" and you want the "Account Transcript" for the tax year in question. Also, when you do get through to someone, ask them to put notes in your file about the payment misapplication. That way if you have to call back, the next agent can see what's happening without you having to re-explain everything from scratch. The IRS agents can see payments across different SSNs in their system, so they should be able to fix this pretty quickly once you get the right person on the phone. Don't give up - this is definitely fixable, just requires persistence with their terrible phone system!

OP, I think you need to check if your tax software correctly classified your Traditional IRA contribution as non-deductible. At your income level with a workplace plan, you're definitely above the deduction phaseout limits. What should happen is: 1. Your capital loss of $3k reduces your taxable income by $3k 2. Your Traditional IRA contribution should be classified as non-deductible 3. You should file Form 8606 to track your non-deductible contributions The $700 reduction in tax due is roughly consistent with just the $3k capital loss deduction at your tax bracket. You're probably not getting any deduction for the IRA contribution, which is correct based on your income.

Has anyone used the "What-If" scenario feature in tax software to see how different retirement contributions affect your tax outcome? I always run these before finalizing my return.