Has anyone successfully claimed R&D credits for software development projects? We have a fintech app that required significant experimental development to integrate with banking APIs. Would this qualify? And what kind of documentation should we be keeping?

As someone who's been through several R&D credit audits, I can't stress enough how important it is to maintain contemporaneous documentation even for original returns. While the IRS may not require you to submit detailed documentation with your original filing, having organized records from day one makes everything smoother if you're selected for examination. I recommend creating a simple tracking system where you document: 1) What technical uncertainty or challenge you were trying to solve, 2) The systematic approach you took to address it, 3) Who was involved and their time allocation, and 4) All related expenses. This doesn't have to be overly complex - even a simple spreadsheet with project descriptions and time logs can be incredibly valuable. The worst thing that can happen is being audited and scrambling to recreate documentation after the fact. The IRS auditors I've dealt with are much more receptive when you can show them organized, contemporaneous records that clearly demonstrate qualified research activities.

Has anyone actually had their passive losses audited? I've been carrying forward suspended passive losses for years (about $22k now) but honestly I'm not sure if I've been tracking them correctly between my different rental properties.

The interaction between passive losses and capital gains can be tricky, but you're on the right track with your understanding. Here's what I've learned from dealing with similar situations: For your capital gain netting question - yes, you can absolutely net your $195K passive capital gain against your $182K crypto losses. The IRS doesn't distinguish between passive and active sources when it comes to capital gain/loss netting. You'll end up with a $13K net capital gain. Regarding your passive losses, since you're disposing of a rental property with an overall gain, this triggers the "complete disposition" rule that allows you to free up your suspended passive losses. You should be able to deduct both your current year $52K passive losses and your $78K suspended losses (total $130K) against any type of income, not just passive income. One thing to watch out for - make sure you're properly documenting which specific property generated those suspended losses. The IRS can be picky about this during audits. Also, don't forget that the $105K depreciation recapture portion will be taxed differently (at 25% max rate) than the remaining capital gain portion. I'd strongly recommend getting this reviewed by a tax professional given the complexity and the dollar amounts involved. These passive activity rules have so many nuances that even small mistakes can be costly.

Try checking your tax software account instead of waiting for an email! I was feeling so anxious about not getting my acceptance notification, but when I logged into my TurboTax account, it showed my return was accepted 3 hours after filing! The email notification system sometimes lags behind the actual status. I'm so happy I checked there first instead of worrying needlessly!

I got same-day acceptance this year too! Filed on Tuesday morning around 10am and received the acceptance email by 4pm the same day. My return was pretty straightforward though - just W-2 income and standard deduction. From what I've read, the IRS processes simple returns much faster than complex ones with multiple forms and schedules. The acceptance really is just confirmation they received your return without any obvious errors, so don't stress if it takes a day or two. Good luck with your first joint return!

According to Internal Revenue Manual 21.4.1.3(7), returns with consecutive transcript updates showing normal processing codes without examination indicators are classified as "pipeline returns" that typically proceed to completion without additional review. Per the Taxpayer Advocate Service 2023 Annual Report to Congress (p.84-85), only 8.2% of returns are selected for additional verification after passing initial processing stages. Are you claiming any credits that might trigger additional scrutiny under IRC §32(k) or §24(g)? That could potentially affect your timeline.

I'm in a very similar situation - cycle 05 with multiple clean transcript updates and waiting for my 846 code. Based on everything I've researched and the experiences shared here, it sounds like we're both in the final stretch of normal processing. The statistical data that others have shared (96%+ success rate for returns with clean updates) is really encouraging. One thing that's helped me stay calm during the waiting period is remembering that the IRS systems are designed to flag issues early in the process, not at the very end. If there were problems with income matching, credits claimed, or other verification issues, they typically would have appeared by now with a hold code. At this point in April, the system is running much more smoothly than it was during the early filing season when PATH Act holds and increased verification were causing delays. Your pattern of clean updates really does suggest you're just waiting for that final 846 code to appear with Friday's update. Fingers crossed we both see good news this Friday! The waiting is definitely the hardest part, especially when you're depending on those funds.

I would be... cautious... about expecting it early. Last year I was in a similar situation and kept checking my account every hour. The stress wasn't worth it. In my experience, SBTPG rarely releases funds before the official DDD, even when they show as funded. If you need the money for something specific this weekend, I would suggest making alternative arrangements just to be safe. The banking system has specific processing windows, and weekend deposits especially can be unpredictable.

I've been through this exact scenario! When SBTPG shows "funded" without a trace number, you're basically in limbo until they generate that trace. From my experience, Credit Karma usually processes deposits pretty quickly once they receive them, but SBTPG is the bottleneck here. I'd say there's a small chance you might see it Saturday morning if they process it late Friday, but realistically plan for your DDD of 2/24. The trace number is key - once that appears, you'll usually see the deposit within a few hours. Keep checking SBTPG every few hours today and you should see that trace number pop up!