Quick clarification for everyone: Form 8949 is where you list each individual transaction, and then the totals from Form 8949 go onto Schedule D. This is why separating crypto and stock transactions matters - they go on different parts of Form 8949 (usually Part I for stocks held less than a year, Part II for stocks held more than a year, and some crypto might need to go on a separate 8949 with Box C checked). If the 1099-B doesn't have amounts, there's probably a detailed statement included with it that has all the transaction information. Check all pages of what was provided!

Just went through this exact situation last month! One thing that really helped me was looking at the transaction descriptions on Form 8949 more carefully. Crypto transactions often have identifiers like "BTC-USD" or "ETH-USD" in the description field, while stocks will show actual company ticker symbols like "AAPL" or "TSLA". Also, check the dates - if your fiancé was actively trading crypto, those transactions often cluster around certain time periods when he was more active on crypto exchanges. Cross-reference the dates on Form 8949 with his crypto exchange account history to help identify which transactions belong to which category. Another tip: crypto transactions usually have much more decimal places in the quantities compared to stock transactions. Stocks are typically whole numbers or simple decimals, while crypto might show something like 0.00123456 BTC.

Important thing nobody's mentioned - you DEFINITELY need to file if you had ANY federal taxes withheld from your paychecks and want to get that money back!! I made only $7k last year at my part-time job but had about $300 withheld. Filed even though I was under the threshold and got all $300 back as a refund.

This is really helpful info everyone! I'm in a similar situation as Nina - had multiple income sources last year including some freelance graphic design work that paid me via 1099s (totaled about $800) plus a regular part-time job that was W-2. From what I'm reading here, since my 1099 income was over $400, I definitely need to file for the self-employment tax even though my total income was pretty low. I had no idea about this distinction before - I was only looking at the regular filing thresholds and thought I might be okay to skip filing this year. One quick question - if I file and discover I owe self-employment tax on that $800, roughly how much should I expect to pay? Trying to budget for this since I didn't set aside money throughout the year (rookie mistake, I know!).

Has anyone installed a dedicated charging station with a separate utility meter specifically for their business EV? My electrician suggested this as the cleanest solution for separating business and personal use.

Great question! I'm in a similar boat with my Nissan Leaf that I use for my freelance photography business. After researching this extensively, here's what I've learned: The IRS allows you to deduct business vehicle expenses using either the standard mileage rate OR actual expenses, but not both. For EVs, the actual expense method can sometimes be more beneficial since our "fuel" costs are so low. For home charging, you'll need to calculate the actual kWh used for business driving. Most EVs display this info on the dashboard or through their apps. Multiply your business kWh by your electricity rate, then multiply by your business use percentage. One tip that's been super helpful: I created a simple spreadsheet that tracks my odometer readings, business vs personal miles, and charging sessions. Takes maybe 2 minutes per day but gives me rock-solid documentation. The key is consistency - whatever method you choose, stick with it for the entire tax year and keep detailed records. Your future self (and potentially the IRS) will thank you!

I had a similar situation last year and want to add one more consideration - make sure to check if your wife received any stipends for teaching or research assistantships that might be reported separately from the scholarship amounts. These would typically show up on a W-2 or 1099 rather than the 1098-T, but they can affect how you calculate the taxable portion of scholarships. Also, since you mentioned not claiming education credits, just double-check that you're not missing out on the American Opportunity Tax Credit. Even with full scholarship coverage, sometimes there are eligible expenses like books or equipment that weren't paid directly by the scholarship that could qualify you for at least a partial credit. The Box 5 - Box 1 - Box 6 calculation that others mentioned is definitely the right approach for your situation. Just wanted to make sure you're considering all the pieces of the education tax puzzle!

One thing to keep in mind for future tax years - if your wife's scholarship situation changes (different amounts, new funding sources, etc.), the Box 6 adjustments can sometimes carry forward for multiple years. I've seen cases where schools make corrections that affect 2-3 subsequent 1098-T forms. It's worth keeping a simple spreadsheet tracking the Box 5, Box 1, and Box 6 amounts each year along with your calculated taxable income. This makes it much easier to spot patterns or catch errors if you get another unexpected Box 6 amount down the road. Also, since you're dealing with taxable scholarship income, make sure you're considering estimated tax payments if the amount is significant. The IRS expects taxes to be paid as income is earned, so if you're getting a large tax bill each April due to scholarship income, you might want to look into making quarterly payments to avoid underpayment penalties.

These scammers really out here trying to catch us slipping during tax season smh 🤦‍♂️

Always trust your gut when something feels off! As a general rule, legitimate tax services like TurboTax will never ask you to click links in emails for sensitive info. When in doubt, go directly to their official website by typing it in yourself. Better safe than sorry - these scammers are getting more sophisticated every year 🛡️