same here in NY, state usually processes wayyyy faster

ikr? like why they gotta make us broke ppl wait longer 😤

fr it's so frustrating! but at least now I know my state refund can come earlier. might help with bills while waiting for the fed one 🤞

Yes! Make sure to specifically request a "Letter 5071C" after you submit all your documentation. This is the IRS identity theft verification letter that confirms your case has been resolved. I keep copies of mine with my tax records just in case.

Your documentation approach is spot on - that spreadsheet will be invaluable if you need to reference specific conversations or timelines later. Regarding multiple platforms, yes, this is unfortunately common. The same stolen identity information can be used across PayPal, Venmo, Cash App, Zelle, and other payment processors. I'd recommend proactively checking with all major platforms to see if accounts have been opened in your name. Most have fraud departments that can search by SSN and alert you to unauthorized accounts. Also consider placing fraud alerts with ChexSystems (the banking equivalent of credit reports) since these scammers often open bank accounts to link to the payment platforms. The more comprehensive you are now, the less likely you'll be dealing with surprise 1099s from other sources next year. Keep that documentation system going - it's one of the most important things you can do to protect yourself throughout this process!

Your point about being taxed on turnover rather than profit really hits the nail on the head. It's like the IRS decided to tax grocery stores on every dollar that flows through their registers, not their actual profit margins. The system makes absolutely no sense from a business or economic perspective. What's particularly maddening is that this creates a situation where you can literally be worse off financially for winning money. I've seen people in forums who turned down casino bonuses specifically because they knew the tax implications would eat up any potential profit. When the tax system actively discourages people from accepting promotional offers from legitimate, regulated businesses, something is fundamentally broken. The lack of educational resources you mentioned is spot-on. The IRS publishes detailed guidance on everything from depreciation schedules for farm equipment to the tax treatment of cryptocurrency, but gambling? You get a few paragraphs that were clearly written in 1960 and never updated for the digital age. I've honestly started keeping a spreadsheet of hours spent on gambling-related tax prep versus my actual winnings. Last year, if I valued my time at minimum wage, I would have been better off working a part-time job at McDonald's than dealing with the administrative nightmare of reporting $800 in net gambling income. Until they fix this, I'm joining the "cash casino trips only" crowd. At least then I can track sessions instead of individual button clicks.

Welcome to the club nobody wants to join! Your experience as a newcomer really highlights how predatory this system is - the gambling sites are happy to take your action, but they don't warn you about the tax nightmare you're signing up for. Your situation with sports betting is particularly frustrating because it's such a clear example of how disconnected the tax code is from reality. You're absolutely right that having to report individual winning bets while your overall results are what actually matter financially makes zero sense. It's like being required to report every green traffic light as "transportation income" while ignoring that you were just trying to get to work. As a teacher, you're dealing with the double whammy of having limited time AND limited resources to handle this mess. The fact that you spent your winter break - time you desperately need to recharge - doing tax prep for $400 in winnings is exactly the kind of absurd outcome this broken system creates. You're definitely not alone, and honestly, your instinct to reconsider whether it's worth it is probably the right one. A lot of us here learned the hard way that the entertainment value of online gambling gets completely destroyed by the administrative burden. The house edge is bad enough without adding an IRS paperwork tax on top of it. If you do decide to continue, definitely look into some of the tools others mentioned in this thread to at least minimize the pain of tax season. But there's no shame in walking away from this bureaucratic nightmare entirely.

I've had good experiences with TradeLog for tracking trades and then importing to TaxAct. Much better than TurboTax for active traders and way cheaper than paying an accountant to sort through thousands of trades.

This is really helpful! I'm just starting out with day trading and had no idea about the TTS election deadline. When exactly do I need to make that election - is it by April 15th of the following year, or is there a different deadline? And do I need to have been trading for a full year before I can elect TTS, or can I make the election based on partial year activity? Also, you mentioned tracking trading-related expenses - are there any specific records I should be keeping beyond just receipts? I want to make sure I'm documenting everything properly from the start.

ugh thanks for the heads up. wish theyd post that on their website

@Dylan Baskin Have you tried checking the Kansas Department of Revenue website with your SSN and exact refund amount? Sometimes the online portal shows more detailed status info than what you get over the phone. Also, double-check that your bank account info was entered correctly on your return - even a small typo can cause delays or rejections that might not show up immediately.

@Dylan Baskin I feel your pain! Same thing happened to me last year - filed early, got accepted right away, then radio silence for weeks. Turns out Kansas had some system issues that year that caused major delays. The good news is it did eventually come through, just took almost 3 weeks instead of the usual 7-10 days. Might be worth filing a trace if you hit the 21 day mark, but honestly sounds like they re'just swamped right now. Hang in there!