I think we're overthinking this. The key difference between Box B and Box C is whether basis was reported to the IRS. If Robinhood sent you a 1099-B AND reported basis to the IRS, then yes, technically Box B is correct. But the bottom line is that the IRS cares about getting their correct tax money, not which box you checked. As long as you report all your gains/losses accurately, this is not something they're going to come after you for.

I'm dealing with this exact same issue! Got my Robinhood 1099-B and CSV file, and TurboTax automatically put everything in Box C when I imported. But looking at the 1099-B, it does seem like Box B would be more appropriate since they're reporting basis information. Reading through all these responses, it sounds like the consensus is that Box B is technically correct for Robinhood crypto since they now report basis to the IRS, but using Box C won't cause any problems as long as all transactions are accurately reported. I think I'm going to stick with what TurboTax did (Box C) since manually changing everything would be a hassle and multiple people here confirmed it won't affect the tax calculation or cause issues with the IRS. Thanks everyone for the detailed explanations - this has been really helpful!

I had almost the exact same situation last year! Filed a simple married return on Feb 2nd, saw "still processing" by Feb 6th, and my refund was direct deposited on Feb 10th without any transcript updates. The year before that was similar timing too. Based on my experience and what I've seen from others, that quick change to "still processing" is typically a very good sign for straightforward returns. I remember being so relieved when I checked my bank account and saw the deposit even though WMR hadn't updated. Sounds like you're right on track for a similar timeline this year!

This is really encouraging to hear! I'm in a very similar situation - filed 2/5/24 with a straightforward joint return and just saw the status change to "still processing" yesterday. Based on everyone's experiences here, it sounds like this is actually a positive development rather than something to worry about. I've been checking WMR obsessively (probably like most of us here), but it sounds like I should focus more on monitoring my bank account for the next week or so. Thanks for sharing your experience - it's posts like this that make navigating tax season so much less stressful when you realize others are going through the exact same thing!

Did the law firm send you any other documentation besides the 1099-MISC? Usually they should provide a statement showing the gross settlement and the attorney fees deducted. This will be important to have for your records to justify the deduction.

I had a similar situation with a class action settlement last year. The key thing to remember is that the 1099-MISC shows the gross amount before attorney fees, but you can absolutely deduct those fees on your tax return. Make sure you get a detailed settlement statement from the law firm showing the breakdown - the total settlement amount and exactly how much went to attorney fees. You'll need this documentation for your records. Some firms automatically provide this, but if you didn't receive it, call them and request it. When filing your taxes, report the full $1000 from the 1099-MISC as income, then deduct the $500 attorney fee on Schedule 1 (line 24a for certain legal fees). This way you only pay taxes on the $500 you actually received. The IRS expects this - it's a very common situation with settlements. Don't let the law firm's 1099 reporting scare you into thinking you owe taxes on money you never received. The tax code specifically allows for this deduction precisely because of how settlement 1099s are issued.

Just make sure you're actually considered a nonresident alien for tax purposes. The substantial presence test can be tricky - if you were in the US for too many days over the past 3 years, you might still be considered a resident for tax purposes even after moving away.

Great question! I went through this exact situation two years ago when I moved back to Germany but kept my US savings account open. A few additional tips that helped me: 1. Make sure you have Form 1042-S from your bank showing the interest paid - this will help you complete Schedule NEC accurately. 2. Since you're Canadian, definitely claim the treaty benefit on Schedule NEC. The US-Canada treaty typically eliminates tax on bank interest for Canadian residents, so you'll likely owe zero US tax. 3. Keep good records of when you left the US permanently in 2024 - you'll need this date for Schedule OI and it affects your filing requirements. 4. Don't forget that even if you owe no tax due to the treaty, you still need to file the 1040-NR to claim that benefit properly. The process is much simpler than it looks when you only have bank interest. Focus on the personal info, Schedule NEC for the interest income and treaty claim, Schedule OI for the residency info, and you should be good to go!

Don't overlook business travel deductions! If you travel overnight for business, you can deduct lodging, transportation (flights, rental cars), 50% of meals, and other business expenses. Just make sure your primary purpose for the trip is business.

Great question! You're absolutely on the right track with those three deductions. Based on your situation, here's what I'd focus on: **Home Office**: With 180 sq ft, you could take the simplified method ($5/sq ft = $900) or calculate actual expenses. Since you're renting, the actual method might give you more - calculate 15% (180/1200) of your rent, utilities, renter's insurance, etc. **Vehicle**: At 65.5 cents per mile for 2023, your 2,600 business miles = $1,703 deduction. Much simpler than tracking actual expenses. **Equipment**: Definitely use Section 179 to deduct that full $3,200 this year instead of depreciating it over time. One thing many new business owners miss is **business insurance** - if you have professional liability or business insurance, that's fully deductible. Also consider **professional development** costs like courses, books, or industry memberships related to your consulting work. With $72K revenue, make sure you're also taking advantage of the **QBI deduction** - you could potentially deduct 20% of your qualified business income, which could be substantial. Keep detailed records for everything, especially that home office space. The IRS does audit home office deductions frequently, so make sure it's truly used exclusively for business!