I had a similar situation with a utility easement last year. One thing to keep in mind is that you should also check if your state has any specific requirements for reporting easement payments, as some states treat these differently than federal taxes. Also, make sure you keep all the documentation from the utility company - not just the 1099-S, but any agreements, surveys, or correspondence about the easement. The IRS may want to see proof of exactly what rights you granted and whether it's truly permanent. Some easements that are called "permanent" actually have conditions that could make them temporary in certain situations. If you do end up with a capital loss like others mentioned, remember that capital losses can only offset $3,000 of ordinary income per year, but any excess can be carried forward to future years. So even if you can't use the full loss this year, it's still valuable for future tax planning.

Based on your situation, you're handling this correctly! Since you received $26,500 for a permanent easement covering 15% of your property, and your allocated basis would be around $48,000 (15% of $320,000), you actually have a capital loss of approximately $21,500. Here's what you need to do: 1. Report this on Form 8949 as a sale transaction with the date you granted the easement as the "sale date" 2. Use your property purchase date as the "acquired date" 3. Enter $48,000 as your basis (15% allocation method) 4. Enter $26,500 as the proceeds 5. The resulting $21,500 loss carries to Schedule D Even though there's no taxable gain, you must still report the transaction since the IRS received a copy of your 1099-S. The good news is this loss can offset other capital gains or up to $3,000 of ordinary income per year, with any excess carrying forward. Make sure to keep detailed records showing how you calculated the 15% allocation of your basis, as the IRS may question this if audited. Some taxpayers use the percentage of acreage affected, while others use appraisals to determine the before/after value method mentioned by other commenters.

I've seen this exact scenario multiple times with the Emerald Card. What you're experiencing is likely H&R Block's staged refund release system - they'll sometimes send partial amounts while waiting for the full IRS deposit to clear their system. Since you mentioned your DDD is April 13th, I'd expect the remaining balance to hit your card by then. The $500 you received isn't necessarily connected to any offset or issue - it's more about H&R Block's internal processing. You can verify this by logging into your MyBlock account or calling their customer service line. They should be able to show you exactly what's pending and when to expect the rest. This is pretty normal behavior for the Emerald Card during tax season.

I went through something similar with my Emerald Card last month! Got a $500 deposit out of nowhere, then the rest of my refund came about a week later. What helped me figure it out was checking the "Account Activity" section in the MyBlock app - it actually showed two separate entries: one labeled "Refund Advance" and another for "Federal Tax Refund" when the full amount came through. The advance didn't get deducted from my total refund either, which was confusing at first. Since you're expecting your deposit on April 13th, I'd bet the remaining balance will show up right on schedule. H&R Block's customer service told me this is pretty standard now - they're basically giving people a preview of their refund while the IRS processes everything. Definitely worth checking your app though, just to see if there's any breakdown of what's coming and when.

Thanks for all the helpful advice everyone! I'm definitely going to try that taxr.ai suggestion first before committing to paper filing. If I do end up having to mail everything in, I'll make sure to use a small staple in the upper left corner and send it certified mail. One thing I'm curious about - for those who have paper filed thick returns, do you fold the pages to fit in a standard envelope or use a larger manila envelope? I'm worried about the forms getting wrinkled or damaged in transit, especially if they're folded. Also, should I include a self-addressed stamped envelope for any correspondence, or is that not necessary?

I've been paper filing for years due to some unique business situations, and I want to echo what others have said about organization being key. One thing I haven't seen mentioned yet is to make sure you write your SSN on page 2 of Form 1040 and the top of every additional form/schedule - this helps keep everything together if pages get separated during processing. Also, double-check that you're using the correct mailing address for your state and situation (refund vs. payment due). The IRS has different processing centers for different circumstances, and sending to the wrong address can delay your return significantly. You can find the right address in the Form 1040 instructions. If you do end up trying the software suggestions others mentioned, that's probably your best bet to avoid the paper filing hassle altogether. But if you must paper file, take your time with organization - it's worth the extra effort to get it right the first time!

This thread has been incredibly helpful - I'm in almost the exact same situation with Energy Transfer LP and had no idea about the K-1 reporting requirement until recently. I've been holding ET for about 3 years and only reporting the distributions that show up on my 1099-DIV. What's really concerning me after reading everyone's experiences is that the IRS receives copies of all K-1s directly from ET, so they definitely know what I should have been reporting. The automated matching systems mentioned here make it sound like it's not a matter of if they'll notice, but when. I'm going to call ET's investor relations line using the number Darren provided to get access to my historical K-1s. The complexity around basis adjustments and potential multi-state filing requirements is honestly intimidating, but it sounds like the consequences of continuing to ignore this could be much worse. For anyone else in a similar situation, it seems like the consensus here is that acting sooner rather than later is crucial, both to limit additional penalties and interest, and to get ahead of any IRS notices. The peace of mind alone seems worth addressing this properly. Thanks to everyone who shared their experiences - this thread probably saved me from making an expensive mistake by continuing to ignore the K-1s!

Just wanted to chime in as someone who went through this exact situation with Energy Transfer LP last year. I had been holding ET shares for about 4 years and completely missed the K-1 requirement - was only reporting the distributions from my 1099-DIV like you. The wake-up call came when I got a CP2000 notice from the IRS. Turns out they had been receiving copies of my K-1s all along and finally flagged the discrepancy. The good news is that once I pulled my historical K-1s from ET's investor portal and filed amended returns, the actual tax impact wasn't as bad as I feared. Some years even showed losses due to depletion allowances. My advice: don't panic, but definitely act quickly. The penalties and interest keep accumulating, and the IRS automated systems will eventually catch this. ET's investor relations team was actually very helpful when I called - they're used to this situation with retail investors. I ended up using a CPA for the amendments since the multi-state implications got complex, but it was worth the peace of mind. The key thing is that you're realizing this now rather than waiting for the IRS to contact you first. That puts you in a much better position to resolve it on your own terms.

This has been an absolutely fantastic thread for understanding precious metals taxation! As someone who recently started collecting silver coins myself, I've learned so much from everyone's experiences and advice. One thing I wanted to add that hasn't been mentioned yet - if you're planning to sell these coins and potentially use the proceeds to invest in other assets, you might want to consider the timing of those subsequent investments. Since you can't do a like-kind exchange (1031 exchange) with collectibles like you can with real estate, you'll be paying taxes on the full gain regardless. But if you're planning to reinvest in stocks or other securities, the timing of when you realize this collectibles gain versus other capital gains/losses in your portfolio could affect your overall tax efficiency. Also, given that you mentioned these are from the fall and you're looking at such substantial gains, you might want to consider whether dollar-cost averaging your sales makes sense. Instead of selling all 220 coins at once, you could sell them in smaller batches over several months. This won't change the tax rate (still 28% collectibles), but it could help you capture better average pricing if silver prices are volatile, and it gives you more flexibility to optimize the timing within your overall tax situation. The record-keeping advice everyone has given is spot-on - with gains this substantial, having perfect documentation will be essential. Congratulations on such an incredible find at that estate sale!

I've been following this discussion with great interest as someone who occasionally buys and sells precious metals. One aspect that hasn't been fully explored is the impact of the Net Investment Income Tax (NIIT) that was briefly mentioned earlier. If your modified adjusted gross income exceeds $200,000 (single) or $250,000 (married filing jointly), you'll owe an additional 3.8% NIIT on top of the 28% collectibles tax rate. This can push your effective tax rate on precious metals gains up to 31.8% at the federal level, before even considering state taxes. This is particularly important for your situation since you're looking at such substantial gains relative to your basis. If this windfall pushes you over the NIIT thresholds, it might make sense to spread the sales across multiple tax years to stay under the income limits, or at least factor that additional 3.8% into your planning. Also, I wanted to echo the earlier advice about professional grading. Even common-date silver coins can sometimes have valuable varieties or mint errors that significantly exceed melt value. Given that you acquired these at face value, having a few key pieces professionally evaluated could potentially identify any hidden gems in your collection before you sell them as bulk silver. The tax treatment remains the same either way (collectibles), but the difference in sale price could be substantial for any coins with numismatic premium.