This is a great reminder about record keeping! I'd also suggest setting up a dedicated email folder for tax documents and using it consistently each year. I forward all my tax-related emails (W-2s, 1099s, property tax statements, etc.) to a specific folder, and at year-end I download everything as PDFs. This way I have a complete digital trail that's searchable if I need to find specific information years later. I also use a simple spreadsheet to track key numbers from each year's return - things like AGI, taxable income, and yes, AMTI if applicable. Takes 10 minutes after filing but saves hours of hunting later.

For future reference, the IRS also allows you to request a "Record of Account" transcript online through their website (irs.gov) which will show if Form 6251 was filed with your 2021 return. This is often faster than calling and can be accessed 24/7. If the transcript shows Form 6251 was filed, you can then request a "Return Transcript" to get the actual form data including line 4 (AMTI). In the meantime, for TurboTax's worksheet, you might try entering "0" for the AMTI field if you're confident you weren't subject to AMT last year - the software should handle the calculation appropriately. Just make sure to double-check the final AMT calculation on your current year's return to ensure it makes sense. If you're still uncertain, consider consulting a tax professional for this specific situation since AMT calculations can have long-term carryover implications.

Does anyone know if you need to file Form 8938 (Foreign Financial Assets) for PTPs like UCO? My accountant is saying that because some of the underlying assets in the partnership might be foreign, I might have an FBAR obligation, but that doesn't sound right to me.

I went through this exact same situation with UCO! The key thing to understand is that you're NOT getting double-taxed, but the reporting can definitely be confusing. Here's what's happening: The Schedule K-1 shows your share of the partnership's income/loss for the year, which you must report regardless of whether you sold shares. When you do sell, you need to adjust your cost basis by adding all the K-1 income you've already paid taxes on (and subtracting any distributions received). For your 2022 sale, you'll report both the K-1 income AND the sale on Schedule D/Form 8949, but use your adjusted basis. So if you bought UCO at $20/share, had $5 of K-1 income over the years, and received $2 in distributions, your adjusted basis would be $23/share ($20 + $5 - $2). Make sure to keep all your K-1s from previous years - you'll need them to calculate the proper adjusted basis. The "higher revenue" on your K-1s compared to your brokerage gains is normal because K-1s show the partnership's actual business income, not just price appreciation.

Has anyone looked into setting up an LLC for nursing side gigs? I've heard this can help with deducting these kinds of expenses if you pick up extra shifts through your own business entity instead of as a regular employee.

Just wanted to add my experience as another OR nurse who's dealt with this exact issue. I spent about $200 last year on scrub caps too, and was disappointed to learn they're not deductible for my main hospital job. However, I do some weekend shifts at an outpatient surgery center where I'm classified as an independent contractor, so I was able to deduct a portion of my scrub cap expenses on Schedule C based on the percentage of time I worked there versus my main job. One thing that helped me was keeping detailed records of when I wore specific caps to which job - I actually started taking photos of my work schedule next to my caps just to have documentation. It might seem overkill, but if you do any 1099 work, having that kind of documentation could be really valuable. Also seconding what others said about talking to your employer - my main hospital actually started providing basic surgical caps after we brought up the infection control benefits of standardized, hospital-laundered caps.

This is similar to when I had to verify for my 2022 taxes, but quite different from my 2021 experience. In 2022, it took about 12 days after phone verification to see my refund, whereas in 2021 it took nearly a month. The current processing seems faster than during the pandemic backlog years, so I'd expect you'll see movement within 2 weeks if your situation is similar to most standard returns.

I went through identity verification about 6 weeks ago (phone verification, similar to yours) and got my refund exactly 9 days later. The key thing I learned is to watch your transcript rather than the "Where's My Refund" tool - my transcript updated 3 days before WMR showed any movement. You'll want to look for the TC 971/570 codes to clear and then see a TC 846 code which means your refund date is set. Since you verified yesterday and it's early in the tax season, you're probably looking at that 7-14 day window most people are mentioning. The good news is phone verification typically processes faster than the mail-in verification letters.

Welcome to the US tax system! As someone who also moved here from overseas, I completely understand your confusion. The displayed prices at stores like Walmart and Target do NOT include sales tax - it's added at checkout, which is why your receipt total is higher than the shelf price. Unlike VAT systems in other countries, US sales tax generally cannot be "reclaimed" by businesses. However, the total amount you pay (including the sales tax) is typically deductible as a business expense on your federal income tax return, so you're not completely out of luck. If you're buying items for resale in your business, you may be able to obtain a resale certificate from your state that allows you to purchase inventory without paying sales tax upfront. Your customers will then pay the tax when they buy from you. This doesn't apply to general business supplies or equipment though. The system varies significantly by state, so I'd recommend checking with your state's department of revenue for specific rules in your area. Good luck navigating this - it's definitely more complicated than most other countries' systems!

As someone who's been helping businesses navigate US tax compliance for over a decade, I wanted to add a few practical tips for your situation. Since you mentioned you're from overseas, you might also want to consider whether your business structure (LLC, corporation, etc.) affects how you handle these sales tax payments and deductions. One thing I always tell new business owners is to set up a separate business checking account if you haven't already - this makes tracking business purchases (including the sales tax portion) much easier come tax time. When you're making purchases at retailers like Walmart or Target, try to keep business and personal purchases completely separate to avoid any confusion with deductions. Also, don't forget about online purchases! Many states now require online retailers to collect sales tax even for out-of-state purchases, so you might see tax being collected on Amazon orders, etc. The same rules apply - if it's a legitimate business expense, you can deduct the total amount including tax. Finally, consider consulting with a local CPA who has experience with your state's specific rules. They can help you determine if getting resale certificates makes sense for your business model and ensure you're maximizing your deductions while staying compliant. The investment in professional advice often pays for itself in tax savings and peace of mind.