mine finally showed up after 3 weeks. just keep checking

Had the exact same issue! Filed through Jackson Hewitt in early January and WMR was showing "not found" for almost 3 weeks. Turns out JH had a small error in how they transmitted my SSN to the IRS. Called JH directly (not the IRS) and they were able to check their system and confirm the return was accepted but there was a processing delay on the IRS side. My refund finally hit my account yesterday even though WMR never updated. Don't panic - just give it a bit more time!

Has anyone mentioned the at-risk rules yet? Even if you could somehow get around the passive activity loss limitations, you'd still need to have "at-risk" basis in the LLC to claim the losses. Did you or your wife actually contribute cash or property to the LLC, or personally guarantee any loans? Without at-risk basis, you can't take the losses even if they weren't passive.

Just to add another perspective on this - make sure you're also considering the state tax implications carefully. I had a similar situation with an out-of-state LLC and ended up owing more in nonresident state taxes than I expected because the state where the property was located didn't allow the same loss carryforward rules as the federal return. Also, keep detailed records of all your suspended passive losses. I use a simple spreadsheet to track mine year over year, including the original source and any partial usage. It becomes really important when you eventually dispose of the property or generate passive income to offset against. The IRS doesn't send you a reminder of what you have suspended, so it's on you to track it properly. One last thought - if this hunting property ever generates rental income (like seasonal hunting leases), that would be passive income that could be offset by your suspended losses. Might be worth discussing with the family whether monetizing the property could help everyone's tax situation.

Question - does anyone know if providing snacks/drinks in the office counts under this exception? We spend about $500/month on office snacks and coffee. Is that considered employee recreation under §274(e)(4) or something else?

Great thread everyone! As someone who's dealt with this exact issue, I wanted to add that timing can also matter for these deductions. The IRS looks at whether the event was held during or reasonably close to the business year you're claiming the deduction. Also, one thing I haven't seen mentioned is the "all employees" requirement. Under §274(e)(4), the recreational activity needs to be available to employees generally - you can't just treat executives or a select group and claim the full deduction. If you're doing tiered events (like a nice dinner for managers and pizza for everyone else), that could complicate your deduction. For your specific activities @CosmicCommander, make sure your team dinners aren't too frequent or lavish, as the IRS might view regular expensive meals as compensation rather than recreation. The escape room and company picnic sound perfect for the exception though!

Don't forget you can also deduct other expenses related to your gig work! I do DoorDash and deduct a portion of my cell phone bill since I need it for the app, insulated bags I bought for deliveries, and even a percentage of car insurance and maintenance based on business vs personal use. Those deductions really add up and help offset the self-employment tax mentioned above.

I was in almost the exact same situation last year! Main job plus two different gig apps, both under the 1099 threshold. Here's what I learned after doing a lot of research and talking to a tax preparer: You absolutely need to report ALL income, even without the 1099 forms. The $600 threshold is just for when companies are required to send you paperwork - it doesn't change your obligation to report every penny you earned. For your Schedule C, you can combine DoorDash and Instacart since they're both delivery services. I did the same thing with Uber Eats and DoorDash. Just report the total $850 income and any business expenses you had. One thing I wish I'd known earlier - start tracking EVERYTHING now for next year! I used an app called MileIQ to automatically log my driving miles, and I kept receipts for things like phone chargers, insulated bags, and even some car maintenance. Those deductions really help offset the self-employment tax you'll owe on that $850. The self-employment tax is what caught me off guard - it's about 15.3% on your gig income over $400. But the business deductions help reduce that burden significantly. Good luck!

Have you thought about trying to sell some assets at a gain to balance out some of your income now? Might offset some of the tax hit.

I'm really sorry to hear about this situation - wash sale rules can be absolutely brutal for active traders who don't realize the implications until tax time. One thing that might help: if you're facing a large tax bill you can't pay immediately, the IRS does offer payment plans. You can apply online through their website for an installment agreement. There are fees involved, but it's better than facing penalties and interest on the full amount due at once. Also, definitely consider working with a CPA or enrolled agent who specializes in trading taxes. While they likely can't eliminate the wash sale issue entirely (since it's based on your actual trading activity), they can review your situation to make sure everything is calculated correctly and explore any available options. Sometimes there are errors in broker calculations or ways to optimize the timing of future sales. For next year, consider keeping better records of your trades and perhaps using tax-loss harvesting strategies that avoid wash sale violations. There are also some software tools that can help track this in real-time as you trade. The silver lining is that those disallowed losses aren't gone forever - they're added to your cost basis in replacement securities, so you'll eventually get the tax benefit when you sell those positions (without repurchasing).