Has anyone here used the IRS free e-file for partnership returns? I know you can e-file Form 1065 but I'm not sure if there are any special requirements when it's a final return with that "final return" box checked. Our partnership was pretty simple with just the two of us and minimal transactions.

Just wanted to add something that might help with your timing concerns. Since you closed in March 2024, you're actually not as pressed for time as you might think. Your 2023 partnership return (covering August-December 2023) is due by March 15, 2024, but you can file an extension until September 15, 2024 using Form 7004. For your final return covering January-March 2024, that would be due by March 15, 2025 (since it's a 2024 tax year return), so you have plenty of time to get that one right. Given that your total revenue was only $8,400 with $7,200 in expenses, you're looking at a pretty straightforward situation. The net income of $1,200 split between two partners means each partner would report $600 on their personal returns. Since the amounts are relatively small, the IRS is less likely to scrutinize the return heavily, but definitely still follow the proper procedures for the final return filings. One tip: keep detailed records of exactly when you ceased operations and any final expenses related to closing the business. These closing costs can often be deducted on your final return.

Something nobody has mentioned yet - make sure you're actually subject to US taxation in the first place. If you're truly just selling e-books through Amazon KDP (or similar platform), you might be receiving royalty income, not freelance/contractor income. Different types of income are treated differently under US tax law. For royalty income from intellectual property, you might have different options than for services income. This distinction could affect both your ITIN application purpose and your ultimate tax liability.

I went through this exact process about 6 months ago as a freelance web developer from the Philippines (also no tax treaty). A few practical tips that really helped me: First, when gathering your identity documents for the ITIN application, make sure your passport is valid for at least 6 months beyond your application date. The IRS rejected my first application because my passport was expiring in 4 months. Second, consider timing your application carefully. I applied in August (non-tax season) and got my ITIN in about 6 weeks. Friends who applied during tax season waited 12+ weeks. Third, once you get your ITIN, you'll need to be proactive with your US clients about updating their records. Send them the completed W-8BEN form via certified mail or email with read receipts. Some companies have slow accounting departments and it took 2-3 months for the withholding changes to take effect. One thing that surprised me - even after getting my ITIN and filing my first US tax return, I only got back about 15% of what was withheld (not the full 30%). The actual tax rate on my income bracket was still around 15%, but I was able to claim some business deductions for my home office and equipment. Still a significant improvement from losing the full 30% though!

Does anyone know if the tax treatment changes depending on whether this was inherited directly or through a trust? My dad left his rental properties in a living trust, and I'm trying to figure out if the depreciation rules are different.

I'm dealing with a very similar situation with my grandmother's duplex that I inherited 6 months ago. She had been depreciating a new furnace and water heater for about 3 years before she passed. One thing I learned that might help you - make sure to get a professional appraisal done close to the date of death if you haven't already. This establishes your stepped-up basis for the property itself, which is separate from continuing the depreciation on those specific improvements your mom was already depreciating. Also, if your mom used a tax preparer, definitely reach out to them first. They should have all her depreciation schedules and can walk you through exactly what needs to continue and what starts fresh. My grandmother's CPA had everything organized in a way that made the transition much smoother than trying to piece it together myself. The IRS Publication 946 has a section on inherited property depreciation that's actually pretty helpful once you get past all the technical language. Good luck with everything!

I've been using Green Dot for my tax refunds for the past 3 years and honestly, the experience has been mixed. 2022 was smooth - got my refund in about 10 days. 2023 was terrible - took almost a month with multiple holds and confusing customer service calls. This year (2024) I decided to give them one more chance and filed on February 15th. My refund was deposited on March 5th, so about 18 days which is better than last year but still slower than friends using traditional banks. If you're going through a divorce and need reliable access to your refund, I'd honestly recommend looking elsewhere. The stress of not knowing when your money will arrive isn't worth it when you're already dealing with major life changes. Credit unions seem to be the way to go based on what others are saying here.

I've been following this thread closely since I'm in a similar situation (recently divorced, need new banking setup). Based on everyone's experiences shared here, it seems like Green Dot's performance is really inconsistent - some people get their refunds quickly while others face significant delays and customer service headaches. For those mentioning credit unions as alternatives, could you share which specific ones you've had good experiences with? I'm looking for institutions that have consistently fast processing times for tax refunds and good customer service. Also, are there any minimum balance requirements or fees I should be aware of when opening new accounts specifically for tax purposes? The last thing I need right now is financial uncertainty, so reliability is my top priority over convenience features. Thanks to everyone who's shared their real experiences - it's been incredibly helpful in making this decision.

Anyone know if Treasury checks expire if they're not cashed? My buddy had one lost in USPS limbo for months... turned his tax season into a horror movie sequel: "Return of the Missing Refund." 😂

Military member here - dealt with this during my last PCS. Don't rely on USPS forwarding for Treasury checks! Even with mail forwarding set up, government checks often have restrictions. Here's what worked for me: 1) Put an immediate mail hold at your old address, 2) Contact your old post office directly and explain the situation - they can sometimes hold specific pieces like Treasury checks, 3) If possible, have someone you trust at your old location check the mail that day. The IRS can reissue if needed, but it adds weeks to the process. Since you're military, you might also want to update your address on MyPay if you haven't already - helps for future tax documents.