I went through this exact process last year when I acquired a Delaware LLC from overseas. Here's what worked for me: 1. **ITIN Application First** - As others mentioned, you absolutely need an ITIN before you can complete Form 8822-B. I used Form W-7 and included a letter explaining my need for the ITIN as the new responsible party of a US business entity. 2. **Documentation Tips** - Make sure you include certified copies (not originals) of your passport and any other identity documents. I also included a copy of the business purchase agreement to prove my legitimate need for the ITIN. 3. **Timeline** - My ITIN took about 9 weeks to arrive. Once I had it, the 8822-B processing was much faster - about 3 weeks. 4. **Pro Tip** - Consider mailing your W-7 application via certified mail so you have proof of delivery. The IRS processing centers can be slow to acknowledge receipt. The whole process took about 3-4 months total, but it's really the only proper way to handle this situation. Don't try to shortcut it by submitting incomplete forms - you'll just create more delays and complications down the road. Good luck with your acquisition!

I went through this exact situation 6 months ago when I purchased a tech startup from California. The process definitely requires patience, but here's what I learned that might help speed things up: **ITIN Application Strategy:** - Submit your W-7 with a comprehensive business justification letter - Include copies of your business acquisition documents (purchase agreement, operating agreement, etc.) - Attach a projected tax return showing estimated business income to strengthen your case for needing an ITIN **Critical Timing Tip:** Don't wait for your ITIN to arrive before preparing your 8822-B. You can fill out everything except the ITIN field, so when your number arrives, you can immediately submit the form. This saved me about 2 weeks. **Follow-up Strategy:** Around week 6 of your W-7 processing, start calling the IRS International line (267-941-1000) weekly to check status. They can often tell you if additional documentation is needed before you receive a formal notice. The entire process took me about 11 weeks total, but the business was fully transferred without any compliance issues. It's definitely worth doing properly rather than trying workarounds that could create problems later. One last note - make sure your business continues filing any required returns during this transition period using the existing responsible party information until the change is officially processed.

Don't forget to consider state taxes too! The federal exclusion is great, but some states have different rules for capital gains on home sales. Where are you located? Some states follow the federal guidelines, but others have their own quirky rules.

I'm so sorry for your loss, Justin. Dealing with tax implications while grieving is incredibly difficult. One additional thing to keep in mind as you navigate this process - make sure you have all the necessary documentation organized before you sell. Beyond what others have mentioned about cost basis and improvements, you'll want to have your wife's death certificate readily available, proof that the home was your primary residence for at least 2 of the last 5 years, and documentation of any major improvements you've made. Since you're in Colorado and within the 2-year window, it sounds like you're in a good position to take advantage of the full $500K exclusion. Given the complexity of your situation and the significant amount of money involved, I'd strongly recommend consulting with a tax professional who has experience with widower exclusions before you finalize the sale. They can help ensure you're maximizing all available benefits and properly documenting everything for when you file. Take care of yourself during this difficult time.

I went through this exact situation with UVXY two years ago and completely understand the panic! One thing I wish someone had told me earlier is that you should check if your broker has any resources specifically for handling ETF K-1s. When I called Schwab about my UVXY K-1, they actually had a dedicated tax help line that walked me through the entire amendment process step by step. They even had sample screenshots showing exactly where to enter the K-1 information in TurboTax. Many brokers offer this kind of support during tax season since K-1 confusion is so common. Also, keep all your documentation from this experience - trade confirmations, the K-1 itself, and your amended return. The IRS sometimes asks for backup documentation on amended returns, especially when partnership income is involved. Having everything organized will save you headaches if they have any follow-up questions. The good news is that once you've been through this process once, you'll know what to expect if you trade these types of ETFs again in the future!

I'm dealing with a similar situation right now with a different ETF that sent me a surprise K-1! Reading through all these responses has been incredibly helpful. I had no idea that certain ETFs were structured as partnerships and would generate K-1s instead of the usual 1099s. One thing I'm curious about - for those who've been through this before, how long does it typically take the IRS to process an amended return? I'm worried about delaying my refund or causing other complications. Also, should I expect to owe additional tax or could this actually work in my favor like some people mentioned? Thanks to everyone sharing their experiences here. It's reassuring to know this is a common issue and not something I messed up personally!

Has your mom considered doing some part-time work to earn those quarters? Might be simpler than the property management route. Even working part-time at minimum wage for a year would get her the 4 quarters she needs.

Another option to consider is volunteer work that pays a small stipend. Some organizations like AARP Tax-Aide, AmeriCorps Seniors, or local nonprofits offer volunteer positions with modest compensation that could count toward Social Security credits. My neighbor earned her final quarters through a part-time position with her county's senior services program - she helped other seniors navigate government benefits and earned just enough to qualify for her remaining credits. The work was meaningful and the hours were flexible, which might appeal to your mom more than traditional part-time employment. You might also want to double-check her existing earnings record with SSA to make sure all 36 quarters are properly credited. Sometimes there are errors or missing quarters from years past that could reduce the number she actually needs to earn.

Has your friend checked his transcript from the IRS? That would show if he actually has any outstanding tax debt from 2013. He can get it online at irs.gov/transcripts if he can verify his identity, or request it by mail. That would be my first step before doing anything else.

This is definitely a red flag situation that needs immediate attention. A few key points that stand out: 1. The timeline is extremely suspicious - a 2019-dated notice for 2013 taxes arriving in 2025 is not normal IRS procedure. 2. Most importantly, if the notice is addressed to a business your friend never worked for or had any connection to, he should NOT be receiving it at all. This could indicate mail fraud, identity theft, or a serious administrative error. 3. Since Performant Recovery no longer has an IRS contract (which you verified), any attempt to collect based on this notice would be fraudulent. Your friend needs to act quickly but carefully: - Do NOT pay anything or provide any personal information to anyone calling about this notice - Contact the IRS directly using the official number from their website (not the number on the notice) - Request his tax transcripts to verify if he actually owes anything from 2013 - File a report with TIGTA (Treasury Inspector General for Tax Administration) about the suspicious notice - Consider contacting a taxpayer advocate as you suggested The fact that he's being reluctant to address this is concerning. Sometimes people avoid tax issues due to anxiety, but ignoring this could make things much worse if there's any legitimacy to it or if someone is using his information fraudulently.