I'm dealing with a similar situation right now! My employer said they'd have corrected W2s out "soon" back in February and it's now April. What I've learned from calling around is that while there's no specific deadline for W2c forms, the IRS does expect "prompt" correction once errors are discovered. Here's what worked for me: I called our payroll department and asked for the specific nature of the correction and an estimated timeline. Turns out mine was just a minor coding issue that wouldn't affect my refund at all. They told me I could file with the original W2 and just ignore the corrected one when it comes. If your employer won't give you details about what's being corrected, you might want to consider filing with your original W2 and amending later if needed. The longer you wait, the more you're potentially losing out on your refund or owing penalties if you end up owing taxes. At some point, the employer's delay becomes your financial problem, which isn't fair.

I completely understand your frustration! As someone who works in tax preparation, I see this situation way too often. While there's technically no hard deadline for corrected W-2s, "early March" turning into "end of March" is definitely unreasonable. Here's my practical advice: First, call your HR/payroll department TODAY and ask for two specific things: 1) What exactly is being corrected on the W-2, and 2) A firm date when you'll receive it. Don't accept vague answers like "soon." If the correction is minor (like a coding issue that doesn't affect your actual wages or withholdings), you can likely file with your original W-2 and ignore the corrected one. However, if it involves actual dollar amounts for wages, taxes withheld, or retirement contributions, you'll want to wait or file an amended return later. If they can't give you a firm timeline, I'd seriously consider filing with your original W-2 and amending later. You're losing potential refund money sitting in limbo, and if you end up owing taxes, you could face penalties for late filing. Your employer's inefficiency shouldn't cost you money or peace of mind.

Have you considered section 280A limitations? This limits your deductions to the gross income from the rental activity when you're renting part of your personal residence. This might affect your ability to claim a loss.

Great question about Schedule C vs Schedule E treatment! You're absolutely right that the classification matters here. Since you're running this as a short-term rental business (less than 7 days average stay), it should be reported on Schedule C as business income, not Schedule E as rental property income. This is actually good news for you because Schedule C businesses aren't subject to the Section 280A limitations that restrict home office deductions to the income generated. However, you do need to be careful about the business use vs personal use allocation. One thing to double-check: make sure you're consistently treating this as a business. Keep detailed records of your advertising efforts, guest communications, cleaning schedules, and any business improvement activities. The IRS likes to see that you're operating with a profit motive, especially in the first few years when losses are more common. Also consider whether you qualify for the Section 199A QBI deduction on any future profits from this business - it could provide additional tax benefits down the road.

Does anyone know which form you use to report this? Is it just on Schedule D or is there another form for claiming the partial exclusion specifically?

Great question! Based on your timeline, you should definitely qualify for the partial exclusion. The key factors working in your favor: 1. **Work-related move qualifies**: Your job relocation is one of the IRS-recognized "unforeseen circumstances" that allows for partial exclusion even when you haven't met the full 2-year requirement. 2. **9 months of use counts**: You lived in the home as your primary residence from April-December 2021, which gives you 9/24 of the maximum exclusion (37.5% of $500k = $187,500 for married filing jointly). 3. **Rental period doesn't disqualify you**: The fact that you rented it out after moving doesn't affect your eligibility for the partial exclusion on the period when it was your primary residence. However, a few important points to remember: - You'll still owe depreciation recapture taxes on any depreciation claimed during the rental period (taxed at up to 25%) - Make sure you have good documentation of the job change, move dates, and occupancy periods - Consider having a tax professional prepare this return given the complexity of mixed-use property sales Your tax professional's assessment sounds correct. With a $180k gain ($675k - $495k), the partial exclusion should cover most or all of your capital gains tax liability, though you'll still have the depreciation recapture to deal with.

Don't forget about the safe harbor for quarterly estimated taxes! If you pay 100% of last year's tax liability (or 110% if your AGI was over $150k), you won't face underpayment penalties even if you end up owing more this year. This can be super helpful when your income is fluctuating between self-employment and W-2 work.

This is exactly the kind of transition situation I went through last year! One thing to watch out for - make sure you're tracking your business expenses carefully since you're self-employed. Things like home office expenses, equipment, software subscriptions, etc. can really add up and reduce your net self-employment income, which affects both your quarterly tax calculations and your solo 401k contribution limits. Also, since you're planning to become a W-2 employee in June, consider whether you want to make your solo 401k contributions early in the year or wait until closer to the tax deadline. If you contribute early, you'll have less cash flow for estimated quarterly payments, but you'll also start getting tax-deferred growth sooner. It's a balancing act based on your cash flow needs. One more tip - keep detailed records of when you transition from 1099 to W-2 work. This will make tax time much easier, especially for calculating the exact periods each income type applies to.

Something similar happened to me, but my school's financial aid office was actually super helpful! I just went in and asked them for a printout of all my payments for the calendar year, and they provided documentation that showed exactly when each payment was processed. Might be worth checking with your university's financial aid or bursar office to get complete documentation of all your payments.

Just want to clarify something important - the 1098-T can be reported on either a payment basis or a billing basis depending on the school. Box 1 shows payments received and Box 2 shows amounts billed. Make sure you check which box your school is using because it makes a huge difference! My university switched from one method to the other between years and it confused the heck out of me.