I've been doing airbnb from my rented apartment for 3 years now and i Always use schedule C cause i can deduct more stuff that way. my tax guy said its borderline but he thinks i can justify it cause i leave snacks and i have a digital guidebook for the area

Just wanted to add my perspective as someone who went through this exact situation last year. Since you're renting out your entire apartment while you're away for work travel, this is most likely Schedule E (rental income) rather than Schedule C (business income). The key test is whether you're providing "substantial services" to guests. Things like daily housekeeping, meals, or concierge services would push it toward Schedule C. But if you're just providing basic accommodations (clean space, linens, maybe some basic amenities), that's typically rental activity. For the TurboTax asset questions - you'll need to indicate that you don't own the property. Look for options like "rented property" or "subleased property" in the software. You won't have depreciation since you don't own the asset, but you can still deduct legitimate expenses like your portion of rent, utilities, cleaning supplies, and any furnishings you purchased specifically for guests. One important note: make sure your lease allows subletting! Even though you still have to report the income either way, violating your lease could create other problems with your landlord.

Has anyone considered the potential audit risk with this strategy? I'm interested in using the 14-day rule but worried about increased scrutiny.

This is exactly the kind of documentation challenge I faced when I first started implementing the 14-day rule! One thing that really helped me was creating a standardized checklist for each meeting type to ensure I never missed any required documentation. For board meetings, I always include: formal agenda, attendee list with titles, meeting minutes with specific business decisions, photos of the meeting setup, and copies of any documents reviewed or approved. For strategic planning sessions, I document: specific business objectives discussed, market analysis or financial data reviewed, strategic decisions made, timeline commitments, and follow-up action items with assigned owners. For training sessions, I track: learning objectives, curriculum or materials used, attendee participation records, skills assessments or certifications earned, and how the training relates to business operations. I also keep a master calendar showing all 14 days used throughout the year with brief descriptions to ensure I never accidentally exceed the limit. The IRS wants to see that these are legitimate business meetings, not just casual get-togethers, so the more specific your documentation, the better. One last tip: I always have my business write me a check specifically marked "home rental - business meeting [date]" rather than lumping it in with other payments. This creates a clear paper trail that's easy to follow during any review.

This happens literally every year with retirement accounts. Brokerages NEVER have the 5498 forms ready by tax time because they have until May 31 to issue them. It's annoying but normal. The good news is that for Roth IRAs you don't need to report the contributions on your tax return anyway!

This is exactly why I always tell people to keep a separate folder for retirement account forms! Form 5498 is one of those "late arrivals" that shows up after you've already filed, but as others have mentioned, it's purely informational for Roth IRAs since the contributions don't affect your current year taxes. One thing I'd add - make sure to keep that 5498 in a safe place because it documents your contribution basis. This becomes important years down the road if you ever need to withdraw contributions early (you can withdraw Roth contributions penalty-free, but you need records to prove how much you contributed vs. how much is earnings). I learned this the hard way when I needed documentation for an early withdrawal and had to track down old forms from multiple years! The timing issue with these forms is frustrating but totally normal. Custodians have until May 31st to send them out, so they rarely make it in time for early filers.

Have you checked if you accidentally included Form 8949 with basis not reported to IRS? I had this same error and it turned out I had checked the wrong box for some stock sales, indicating the basis wasn't reported to the IRS when it actually was. TurboTax is really bad about explaining which specific forms are causing e-file issues. Sometimes it helps to go through your return using the Forms view rather than the interview format to spot issues.

I've been following this thread and wanted to share another common cause of e-filing rejections that hasn't been mentioned yet - Form 1116 for foreign tax credits. Even if you don't think you have foreign income, sometimes investment accounts or mutual funds generate small amounts of foreign tax that create this form automatically. Also check if you have any estimated tax payments (Form 1040ES) that might have been entered incorrectly. If the payment dates or amounts don't match what the IRS has on record, it can trigger an e-file rejection. One more thing to try: in TurboTax, go to Federal Taxes > Wages & Income > Show All Income, then look for any items marked with warning triangles or error indicators. Sometimes there are validation issues that only show up in this summary view, not during the regular interview process. If all else fails, you might need to temporarily remove sections of your return one by one and try to e-file after each removal to isolate which specific area is causing the problem. It's tedious but often the only way to identify the culprit when TurboTax won't tell you directly.

Has anyone calculated how much money you lose by getting a huge refund like this? I mean $22k sitting with the IRS for a year instead of in your pocket is a serious opportunity cost.

The $22k refund is definitely a sign of significant overwithholding! Based on what you've shared, the most likely culprit is that both you and your spouse selected "Married Filing Jointly" on your W4s without accounting for having two incomes. Here's what probably happened: The withholding tables assume when you check "Married Filing Jointly" that you're the primary or only earner. When both spouses do this, you end up withholding as if each income is taxed at lower brackets, but when you file jointly, your combined income pushes you into higher tax brackets - creating a massive overwithholding situation. Quick fixes to try: 1. Both of you should check box 2(c) on new W4s ("If there are only two jobs total, you may check this box") 2. Stop that extra $175/paycheck your spouse is withholding 3. Consider using the IRS withholding estimator to fine-tune You'll want to submit updated W4s ASAP since you're essentially giving the government an interest-free loan on $22k. At current savings rates, that's nearly $1,000 in lost opportunity cost per year!