Make sure whoever does your taxes understands partnership taxation! I learned this the hard way - had an accountant who normally just did individual returns try to handle our partnership, and they completely messed up how they reported my guaranteed payments. Ended up having to file an amended return.

One thing I don't see mentioned yet is the timing aspect of guaranteed payments. Unlike regular employee paychecks, you have flexibility in when you take guaranteed payments throughout the year, but you need to be strategic about it for cash flow and tax planning. I'd recommend setting up a regular monthly guaranteed payment schedule rather than taking lump sums. This helps with budgeting and makes quarterly estimated tax payments more predictable. Also, since guaranteed payments are deductible to the partnership, timing them can help manage the partnership's taxable income if you have a particularly profitable year. Just remember that guaranteed payments are considered "earned" when they're determined, not necessarily when they're paid out, so keep good records of when payments are authorized versus when cash actually changes hands.

I've been through this exact situation! Had code 570 for about 8 weeks last year and it was torture waiting. What helped me stay sane was setting up a weekly check routine instead of obsessively looking every day. The IRS usually updates transcripts on Fridays, so I'd check then and try to forget about it the rest of the week. In my case, it turned out they were just double-checking my filing status since I switched from married filing separately to jointly. Once they cleared it, I got my refund within 2 weeks. Hang in there - I know it's easier said than done when you're counting on that money!

I'm going through the exact same thing right now! Filed in mid-January and got hit with code 570 about 10 days ago. It's so stressful not knowing what they're reviewing or how long it'll take. I've been trying not to check my transcript every day but it's hard when you're expecting that refund money. Reading everyone's experiences here is actually pretty comforting - seems like most people do eventually get it resolved, even if it takes longer than we'd like. Has anyone had success calling the IRS to get more info, or do they just give you the same vague "additional processing time needed" response?

Question - do I still need to pay into US Social Security if I'm paying into NZ's superannuation system? Feels like I'm double paying for retirement!

As someone who just went through this exact situation last year after moving to Auckland, I can definitely relate to the overwhelm! The key thing that helped me was getting organized early and understanding that yes, you absolutely still need to file US taxes. Since you worked in both countries during 2023, you'll need to gather documents from both employers - your final W-2 from the Boston company and whatever tax documents your NZ employer provides (they should give you an IR3 or similar). One thing I wish I'd known earlier: keep detailed records of your exact dates of travel and residence. The IRS is very specific about qualifying days for the Foreign Earned Income Exclusion, and having precise documentation makes everything smoother. Also, don't stress too much about the NZ tax year difference (April to March vs January to December). You'll report your 2023 calendar year income to the US, regardless of how NZ splits it across their tax years. The good news is that once you get through your first year of expat taxes, subsequent years become much more routine. You've got this!

I'm just wondering if anyone knows - if I lose more than I win for the year, do I still have to go through all this documentation hell? I'm down about $2k total across all platforms but have like 30k in transactions.

This is exactly why I stopped online gambling altogether after last tax season. The administrative burden is absolutely insane compared to the actual amounts involved. I had a similar situation - deposited maybe $500 total, had some good runs and some bad ones, ended up about $200 ahead for the year. But because of all the individual "wins" getting reported, I had to track over 15,000 transactions just to prove my actual net gain was $200. The worst part is that the casinos send you these year-end summaries that are completely useless for tax purposes. They'll show your "total winnings" as some massive number that bears no resemblance to reality. DraftKings sent me a summary showing $47,000 in "winnings" when my actual profit was under $300. I ended up paying a CPA $800 just to make sense of it all, which ate up most of my actual gambling profit. Now I stick to the occasional trip to Atlantic City where at least I can track sessions instead of every individual spin and hand. The tax code desperately needs to be updated for the digital age. Until then, online gambling is just not worth the paperwork nightmare for recreational players.

One thing nobody's mentioned yet - if you're considering withdrawing from your Roth IRA because you need funds, make sure you've exhausted other options first. Retirement money should really be a last resort. Also, remember that while you can withdraw contributions anytime, if you take out earnings before age 59½ (with some exceptions), you'll pay taxes PLUS a 10% penalty on those earnings. And once you take money out, you can't put extra back in to "make up" for it beyond your annual contribution limits.

A trick I learned from my accountant - if you can't figure out the contribution vs earnings split from your records, look at your Form 5498s from previous years. The IRS gets these forms from your plan administrators showing your contributions each year. You can request wage and income transcripts from the IRS that include these forms going back several years. Might save you some headache if you can't get the info from Fidelity directly.