11 Does anyone know if there's a time limit for using these carried-over investment interest expenses? I have some from like 5 years ago that I haven't been able to use yet.

This thread has been incredibly helpful! I'm in a similar situation with investment interest carryovers and want to add a few practical tips for anyone else dealing with this: 1. **Keep meticulous records** - The IRS doesn't track your carryovers for you, so maintain copies of all Form 4952s that show disallowed amounts. I create a simple spreadsheet tracking carryover amounts by year. 2. **Review your investment strategy** - If you consistently have more investment interest expense than investment income, consider whether the debt is truly worth it from a tax perspective. 3. **Consider timing** - If you're close to the standard vs. itemized deduction threshold, sometimes it makes sense to bunch investment expenses (and other itemizable deductions) into alternating years to maximize the benefit. The indefinite carryforward rule is really generous compared to other tax provisions, so don't let these deductions go to waste! Just make sure you have the documentation to back them up.

Quick question - does anyone know if this affects state filings too? My LLC had the same issue with our Form 7004 but we also filed state extensions. Should I expect the same problem with state?

I've been following this thread and want to add something that might help others avoid this situation in the future. The IRS has different deadlines for different entity types, and it's incredibly confusing: - Individual returns (1040): April 15 - Partnership returns (1065, including multi-member LLCs): March 15 - S-Corp returns (1120S): March 15 - C-Corp returns (1120): April 15 (but this can vary based on fiscal year) The extensions follow the same pattern - so Form 7004 for partnerships was due March 15, not April 15. I learned this the hard way a few years ago. For anyone dealing with a similar denial, document everything and definitely pursue the reasonable cause angle. The IRS does sometimes grant relief when there's genuine confusion about deadlines, especially if you have a clean compliance history. Make sure to explain in detail why you believed April 15 was the correct deadline and provide any evidence that supports your good faith effort to comply.

I had this exact same issue last month! The "INFO" status with the adjustment message usually means your 2024 return is still working its way through their system. Since you filed recently and your previous years show clean $0 balances, this is most likely just normal processing delays rather than any actual problem with your account. I'd give it another week or two before worrying - mine cleared up automatically and showed the proper balance once processing completed.

I've seen this "INFO" status quite a bit this tax season - it's definitely more common than usual. The fact that your 2021-2023 years all show $0.00 is actually a good sign because it means your account history is clean and there aren't any underlying compliance issues. The adjustment message for 2024 is likely just their standard language when a return is still being processed or validated in their system. One thing to keep in mind is that even simple returns can trigger this status if there were any data matching issues (like W-2 forms not fully updated in their system yet) or if you claimed certain credits that require additional verification. Since we're still early in tax season, their processing volumes are high and everything is moving slower than normal. I'd suggest checking your transcript again in about a week. If it's still showing "INFO" after 3 weeks from your filing date, that's when you might want to call their customer service line, though as others mentioned, they'll probably just tell you to wait longer anyway.

Anyone know what a typical percentage of your gross income should go to these deductions? I make about $65k annually and it seems like a huge chunk disappears before I even see it.

I used to be just as confused about paycheck deductions! One thing that really helped me was requesting a detailed breakdown from HR - most companies are required to explain what each deduction code means if you ask. Also, don't forget that some deductions might be pre-tax (like health insurance premiums or 401k contributions) which actually reduces your taxable income, while others are post-tax deductions. This can make a big difference in how much you're actually paying. If your deductions suddenly increased by $95, it could be because you enrolled in benefits during open enrollment, got a raise that pushed you into a higher tax bracket, or changed your W-4 withholdings. I'd definitely check with HR to see if anything changed in your payroll setup recently.

Something that hasn't been mentioned yet - if your games contain any form of gambling mechanics (loot boxes, gacha systems, etc.), you might face additional regulatory requirements beyond standard VAT/GST in some jurisdictions. Some countries are starting to classify these features under gambling regulations which can affect taxation.

One thing I'd add from my experience working with international tax compliance is that the classification often depends on how your games are structured from a business model perspective. For example, if you're selling a complete game as a one-time purchase, it's almost always treated the same as other software. But if you have ongoing services like multiplayer servers, regular content updates, or social features, some jurisdictions might classify portions of your revenue as "digital services" rather than software sales, which can have different VAT treatment. Also worth noting - some countries have started implementing digital services taxes (DST) that specifically target large tech companies, but these typically have revenue thresholds that might not affect smaller game developers. However, if you're distributing through major platforms, you might indirectly be affected by how those platforms handle DST compliance. The key is to document your game's features and revenue streams clearly, as tax authorities are increasingly looking at the substance of digital products rather than just broad categories.