This is such a helpful thread! I'm in a similar situation with a property in the Philippines that I inherited from my parents about 8 years ago. I've been renting it out and reporting the income, but I'm considering selling it now. One thing I'm curious about - since this was inherited property, do I use the fair market value at the time of inheritance as my basis, or do I need to go back to what my parents originally paid for it decades ago? And if it's the fair market value at inheritance, which exchange rate do I use - the one from when they passed away or from when the property was officially transferred to me (which took about 6 months due to probate)? Also, has anyone dealt with the situation where the foreign country requires you to pay their capital gains tax before you can transfer the proceeds out of the country? I'm wondering how that affects the timing of when I need to report everything to the IRS.

This is such a valuable discussion! I'm dealing with a similar situation with property in Germany that I bought in 2008. One thing I'd add that hasn't been mentioned yet - make sure you keep detailed records of any improvements or renovations you made to the property over the years. These can be added to your basis and reduce your capital gains. Also, if you've been depreciating the property on your US returns, remember that you'll need to use the depreciation amounts you actually claimed (or were allowed to claim, whichever is greater) when calculating the depreciation recapture, not necessarily what you should have claimed. For anyone dealing with properties in EU countries, be aware that some countries have withholding requirements where they'll hold back a percentage of the sale proceeds to cover potential tax liabilities. You can usually get this refunded later, but it affects your cash flow timing. Germany withheld about 25% of my sale proceeds and it took 8 months to get the refund after filing their tax return. The currency exchange impact is real - in my case, the Euro had strengthened against the dollar since 2008, so even though the property only appreciated modestly in Euro terms, my dollar-based capital gain was much larger than expected.

I tried to use VITA last year but got turned away because my income was slightly over their limit. Just a heads up that they usually have income restrictions (around $60k in my area). Also, there's another program called TCE (Tax Counseling for the Elderly) that specifically helps people 60+ with their taxes. My parents used it and had a great experience - the volunteers were other seniors who understood their specific tax situations better.

I'm planning to use VITA this year for the first time and this thread has been super helpful! I've been doing my own taxes with online software but keep worrying I'm missing deductions or making mistakes. Question for those who've used VITA - do they review your previous year's return at all to make sure you didn't miss anything? I'm wondering if I should bring last year's return with me or if they only focus on the current tax year. Also, is there any follow-up support if the IRS has questions about the return they prepared? Really appreciate everyone sharing their experiences here. It's making me feel much more confident about trying the free service instead of paying for tax prep again!

Has anyone used TurboSelf Employed? Is it worth the extra $90 or should I just use the regular TurboTax?

I just went through this exact same situation last year! As a freelance photographer who made about $38k, I was so confused about the whole business expenses vs standard deduction thing. What really helped me was understanding that Schedule C (your business income and expenses) and your personal tax return (Form 1040 where you choose standard vs itemized) are completely separate calculations. Think of it this way: your business expenses reduce your business profit, and then that net profit flows to your personal return where you still get to choose the standard deduction. So definitely claim all $7,800 of your legitimate business expenses on Schedule C! That will reduce both your income tax AND your self-employment tax. Then on your 1040, you can still take the full $13,850 standard deduction instead of itemizing personal things like mortgage interest or charitable donations. One tip from my experience - make sure you're also tracking any home office expenses if you have a dedicated workspace. Even a small percentage of your rent/utilities can add up to significant deductions. Good luck with your first year as self-employed!

Great question! I've been running a tech review YouTube channel for about 2 years now and dealt with these exact same tax issues. Here's what I've learned from working with my accountant: You're absolutely right to keep detailed records - that's crucial. For products you buy specifically to review, you can generally deduct them as business expenses since content creation is the primary purpose. The key is demonstrating legitimate business intent. However, there's a nuance when you keep items for personal use afterward. The IRS looks at the "primary purpose" test - if you bought it mainly for business (creating content), you have a strong case for the deduction even if you get personal benefit later. But for expensive items you'll use heavily for personal purposes, you might need to allocate part of the cost to personal use. A few practical tips from my experience: - Keep photos/screenshots of products in your videos as proof they were used for business - Note any ongoing business use (comparison shots, background props, etc.) - Track if you eventually sell or donate items, as this supports the business purpose - Consider the item's useful life for your content vs personal use For those $200 earbuds, if you bought them specifically to create a review that generates revenue, and maybe use them occasionally in future videos for comparisons, you could likely justify a high percentage business deduction (80-90%) even with some personal use. The most important thing is having a reasonable, documented approach that you can explain if questioned.

I run a small tech review channel and can share some insights from my experience over the past year. The general rule is that if you purchased items primarily for creating content that generates income, they're typically deductible as business expenses. For your $200 earbuds example - if you bought them specifically to review and create content, the full cost is likely deductible even if you keep them afterward. The IRS uses a "primary purpose" test rather than requiring you to throw away everything you review. However, you do need to be reasonable and consistent. I track three things for each purchase: 1. Date and amount of purchase 2. Which video(s) featured the item 3. Any ongoing business use (comparison shots, studio props, etc.) Some practical tips that have worked for me: - Keep screenshots of products appearing in your videos as documentation - Note if you use items in multiple videos or for ongoing business purposes - Track any items you later sell or donate (supports business intent) - Be consistent with your allocation methods across similar items Since you're generating affiliate income, you're clearly running a legitimate business. Focus on documenting the business purpose rather than trying to calculate exact usage percentages down to the hour. The key is having a reasonable, well-documented approach you can defend if questioned. Most importantly - keep doing what you're doing with the detailed records. That documentation is your best protection.

As someone new to the US tax system, I can understand how confusing this must be! Based on what everyone's shared here, it does sound like your refund amount disappearing from WMR is likely indicating an offset situation. Since you mentioned this is your first time filing in the US, you might not be aware of all potential debts that could trigger an offset - these can include federal student loans (even from before you became a US taxpayer), unpaid state taxes from any state you've lived in, child support, or other federal debts. I'd recommend calling the Treasury Offset Program at 800-304-3107 as Logan suggested - they can tell you immediately if there's an offset and which agency is claiming the debt. This will give you answers much faster than waiting for the mail notice. Don't worry too much though - as Jade mentioned, you'll likely still receive whatever portion of your refund remains after the offset is applied!

Hey Jeremiah! As a fellow community member, I wanted to chime in with some reassurance. What you're experiencing is actually pretty standard when the Treasury Offset Program kicks in. The fact that your name and filing status are still showing means your return was processed correctly - the missing refund amount is just the system's way of indicating they're applying an offset for existing debt. Since you mentioned you're new to filing in the US, you might not realize that even old debts from before you became a regular taxpayer can trigger these offsets. The good news is that if your original refund was larger than the debt, you'll still get the difference! I'd definitely call that Treasury Offset number (800-304-3107) that others mentioned - they can give you the full picture immediately rather than waiting weeks for a letter. Don't stress too much about it - this happens to tons of people and doesn't reflect poorly on your tax filing at all.