Thanks for sharing your audit experience! This is really helpful for those of us in similar situations. Just to clarify - when you say you kept records showing both spouses used it as primary residence, what specific documentation did the IRS want to see during the audit? I'm asking because my husband owned our home for 8 years before we married, and we've been living there together for 3 years since. I want to make sure I'm keeping the right paperwork in case we get audited when we eventually sell. Did they ask for things like utility bills in both names, voter registration, or something more specific?

This is such a common situation and it sounds like you're on the right track! I went through something very similar when my wife and I sold our home last year. She had owned it for 6 years before we got married, and we lived there together for 4 years after marriage before selling. The key thing to remember is that for married couples filing jointly, the IRS allows you to combine your ownership and use periods. Since your husband owned and used the home for 10+ years before marriage, and you've both lived there for 2+ years since marriage, you easily meet both the ownership test (at least one spouse owned for 2+ years) and the use test (both spouses used as primary residence for 2+ years). Being added to the deed through your trust doesn't reset anything - the IRS counts ownership from your husband's original purchase date. We qualified for the full $500,000 exclusion without any issues. Just make sure you have good documentation of both of you living there as your primary residence during those 2 years post-marriage, in case you ever need to prove it later.

idk why everyone's obsessed w these advance loans when they take like half ur money in fees. just wait for the real refund imo

Had the exact same thing happen to me last year! Got the acceptance screen but didn't receive the email until the next morning. TurboTax's email system can be pretty delayed especially during busy periods. I'd give it until tomorrow before worrying - the acceptance screen is usually a good indicator that you're approved. Just keep checking your spam folder too just in case!

TurboTax won't always let you e-file a 1040-X even if it's just Schedule D changes. It depends on the specific situation and tax year. I tried to e-file an amendment for my 2019 taxes (in 2022) and the system forced me to paper file because of some limitation with Schedule D amendments for that specific tax year. But when I did a 2020 amendment with Schedule D changes, it let me e-file with no problem.

I just went through this exact situation last month! Had to amend my 2023 return for some incorrect cost basis reporting on Schedule D. TurboTax handled it perfectly through their amendment workflow. The key thing is to make sure you use TurboTax's "Amend a Return" feature rather than trying to create a new return. It will pull up your original return, let you make the Schedule D corrections, and then generate a proper 1040-X that only includes the changed information. When I e-filed mine, the IRS only received the 1040-X form and the corrected Schedule D - no other unnecessary forms. The whole process took about 10 weeks to get processed, which seems pretty standard based on what others have mentioned here. One heads up though - TurboTax will charge you an additional fee for the amendment (I think it was around $40-50), but honestly it was worth it for the peace of mind knowing everything was filed correctly electronically.

Quick question for anyone who knows - does this mileage depreciation add-back work for other self-employed deductions too? I'm self-employed and take a home office deduction and some equipment depreciation. Would mortgage lenders add those back too?

This is a really important topic that I think a lot of self-employed people struggle with. I've been through the mortgage process twice as a freelancer, and I want to emphasize something that some of the other commenters have touched on but bears repeating: there's a huge difference between legitimate business expenses and manufactured deductions. The math your mortgage officer explained is correct - lenders do add back depreciation components because they're non-cash expenses. But the key word here is "legitimate." If you're claiming mileage for trips you actually took for business purposes, that's fine. If you're making up miles or claiming personal trips as business trips just to qualify for a mortgage, that's fraud. I'd strongly recommend getting your actual business mileage properly documented and organized rather than trying to game the system. Keep detailed logs of business trips, save receipts, and make sure everything you claim is defensible if you're ever audited. The mortgage approval isn't worth the risk of IRS problems down the road. Also, consider working with a mortgage broker who specializes in self-employed borrowers - they understand these income calculations better than general loan officers and can help you present your financial picture accurately without cutting corners.

Something no one's mentioned yet - as a full-time student with self-employment income, you might qualify for the American Opportunity Tax Credit or Lifetime Learning Credit. These education credits can significantly reduce your tax bill!

As someone who's been tutoring for a few years now, I can confirm everything others have said about this being self-employment income. One thing I wish I'd known earlier - keep a simple spreadsheet tracking each tutoring session with date, student name (or initials for privacy), hours worked, and amount paid. This makes tax filing SO much easier. Also, since you're making good money from tutoring, consider setting aside about 25-30% of each payment in a separate savings account for taxes. Between federal income tax and self-employment tax, you'll owe a decent chunk. Having it already saved prevents the shock at tax time! The Roth IRA opportunity is huge - definitely take advantage of that. Starting retirement savings in college puts you way ahead of most people. You can contribute for 2023 until the tax filing deadline (usually April 15th), so you still have time to make that contribution if you want.