As a newcomer here, I really appreciate everyone sharing their experiences! I'm in a similar situation to the original poster - filed for the first time this year and feeling completely overwhelmed by all the different ways to check my refund status. Reading through these responses, it sounds like getting set up with transcript access is definitely worth the hassle, even though the ID.me verification process sounds intimidating. Can someone clarify - if I'm checking my transcript and see that code 846 with a date, is that the date the IRS actually sends the money, or when they approve it for sending? I want to make sure I understand the timeline correctly so I can plan accordingly. Thanks for being so helpful to us newbies!

Just want to echo what others have said about the transcript being a game-changer! I was skeptical at first too, but after going through the ID.me setup (which yes, was annoying but only took about 2 days for me), the level of detail is incredible. One thing I haven't seen mentioned yet - if you're checking your transcript on mobile, the formatting can be pretty rough. I'd recommend using a computer/laptop if possible because trying to read those transaction codes on a phone screen made my eyes cross! Also, for anyone worried about the weekly Friday updates being too slow - I found that even though WMR updates daily, it would show the same "still processing" message for weeks while my transcript was actually showing progression with different codes appearing. The transcript really does give you the full picture of what's happening behind the scenes at the IRS.

Ughhh I'm still waiting for mine and it's February 12th! This is sooo annoying because my tax guy needs all my docs by the 20th or he won't guarantee filing before April. Anyone else in the same boat? I had like 200+ trades last year so maybe that's why?

Still waiting on mine too! I've been checking the app every day like it's going to magically appear. I did a mix of stocks and crypto trades throughout 2024, probably around 150 transactions total. It's so frustrating because I usually file my taxes in early February to get my refund ASAP, but this year I'm stuck waiting on Robinhood. Has anyone tried downloading their transaction history and just calculating everything manually? I'm tempted to do that rather than wait until the 15th, but I'm worried I'll mess something up with the cost basis calculations or miss some dividend that got reinvested automatically.

I think everybody is overthinking this. If you have a rental property that isn't a triple-net lease, most tax pros consider it a business eligible for QBI. The 250-hour safe harbor just gives you automatic qualification and protection from challenges. I've been claiming QBI on my 3 rentals for years with no issues. I have property managers for all of them and probably spend less than 50 hours total on them each year. Unless you're blatantly ignoring all aspects of the property, you're probably fine.

I've been through this exact same situation and ended up working with a tax professional who specializes in QBI deductions. What I learned is that the key isn't just how many hours you spend, but the nature and regularity of your activities. In your case, regularly communicating with the PM about maintenance, HOA compliance, inspection scheduling, and tenant renewals actually demonstrates significant business involvement. The fact that you're making decisions and staying involved rather than just collecting rent checks is important. My CPA explained that courts have looked at factors like: Do you maintain separate business records? Do you actively market the property? Do you make business decisions about repairs, improvements, and tenant selection? Are you involved in setting rent rates? Even with a property manager handling day-to-day operations, if you can show you're actively managing the business aspects of the rental, you may have a solid case. The $2,600 in potential tax savings definitely justifies getting a professional opinion from someone who really knows QBI rules. I'd recommend finding a CPA who has experience with rental property QBI cases specifically - it made all the difference for me.

The IRS's own website (https://www.irs.gov/faqs/irs-procedures/refund-inquiries/refund-inquiries-0) states that most traces take about 6 weeks to resolve, but I've found that timeframe to be surprisingly optimistic in many cases. The Taxpayer Advocate Service reports that during peak tax season (which we're in right now), trace resolution can take 8-10 weeks due to backlog. If your trace involves a paper check that was never received, the process includes additional verification steps that can extend the timeline.

I went through this exact situation about 8 months ago and can share what I learned. After getting my trace number, I called back every 2 weeks to check status (I know, painful wait times). The agent told me that trace numbers are assigned in batches and processed in the order they're received. Mine took exactly 7 weeks from trace initiation to refund deposit. One tip that helped me stay sane during the wait: screenshot or write down the exact date you got your trace number and the agent's reference number if they gave you one. When I called for updates, having those details made the conversations much smoother. Also, don't panic if your "Where's My Refund" tool doesn't update - mine showed no progress right up until the day the money hit my account. The trace process seems to happen somewhat separately from their normal refund tracking system. Hang in there - having a trace number really does mean they're working on it, even when it feels like nothing is happening!

Compared to previous tax seasons, this year's processing seems to be running on a tighter schedule. If you filed electronically and your return was accepted before February 15th, most PATH Act returns are now being processed in batches that finish on Wednesdays and Fridays. Unlike the 2022 season when delays stretched into April, or even last year when many waited until mid-March, the current cycle is moving more efficiently. I'd strongly recommend checking your transcript again tomorrow morning - if you don't see movement by then, you'll likely be in next week's processing batch.

I'm a PATH Act filer too and have been anxiously checking my transcript daily! From my experience last year, the transcript usually updates first, but I've heard of a few cases where people got their deposit a day or so before the 846 code showed up. It's definitely not the norm though. If you're checking WMR (Where's My Refund), that sometimes updates faster than the transcript system. Also worth noting that if you're banking with a credit union or smaller bank, they might process deposits differently than the big banks. Have you tried calling the IRS taxpayer advocate line? Sometimes they can give you more specific info about where your return stands in the queue, especially if you're past the normal processing timeframes.