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Did you get any other codes? Like 570 or 971? Mine updated yesterday. Shows 3/19 DDD. First time filing with foreign income. Wondering if normal timeline.
Your timeline looks completely standard for international filers! I've been through this process several times with my 1040-NR returns. The 3/12 DDD following a Wednesday transcript update is textbook IRS processing. What's encouraging is that you didn't get hit with any verification delays - those can add weeks to the timeline. I usually see my funds arrive either the night before or morning of the DDD, depending on my bank's processing schedule. The fact that your transcript shows the 846 refund issued code means you're in the final stretch. International returns often take longer upfront due to additional verification steps, but once you reach this point, it's smooth sailing to your bank account.
One important point about wash sales that nobody mentioned: if you sell at a GAIN, the wash sale rule doesn't apply at all! You can sell for a profit and immediately buy back with no tax consequences (other than owing taxes on the gain of course). I found this helpful when rebalancing - I try to sell my winners when I need to adjust position sizes.
Is there any waiting period for gains? Like could I sell TSLA at a $500 gain today and rebuy immediately tomorrow without any issues?
Nope, there's no waiting period for gains! You can sell TSLA at a $500 gain and literally buy it back seconds later if you want. The wash sale rule only applies to losses, not gains. The reason is that the IRS is mainly concerned with preventing you from artificially creating tax losses while maintaining essentially the same investment position. They have no problem with you paying taxes on gains, so there's no restriction on rebuying after selling at a profit.
Dumb question maybe but what happens at the end of the year with wash sales? If I have disallowed losses from December, do they just disappear?
This is actually a really important question! Wash sales that happen at year-end need special attention. If you sell at a loss in December and then buy back in January (within 30 days), that creates a wash sale that spans tax years. The loss doesn't disappear, but it gets added to the cost basis of your new shares purchased in January - which means you can't claim the loss on this year's taxes. You won't realize that benefit until you eventually sell those January shares (potentially next tax year or beyond). This is why some traders do "year-end tax planning" and avoid rebuying securities they've sold at a loss in December until after the 30-day window has passed.
idk why ppl think they can trick the irs... they literally know everything about our money š
Just to add to what everyone's saying - even if you only worked 3 weeks, if you received ANY pay, it counts as taxable income for 2024. The IRS matches up employer reports with your tax return, so they'll definitely notice if something's missing. Better to report everything upfront than deal with notices later. If you haven't received the W-2 by early February, you can file Form 4852 as a substitute, but try contacting your old employer first.
Try 800-829-0582 extension 652. Call exactly at 7:00am EST. Press 1 for English then 2 for tax questions. When asked for SSN, enter it slowly. Don't press anything when asked about forms. Wait through two messages. You'll get a person about 50% of the time. I've gotten through three times using this method.
I'm going through something very similar! Filed on February 15th with solar credits and my transcript has been blank for weeks too. The "still being processed" message on WMR is so frustrating when you're expecting a refund. Reading everyone's experiences here really helps - it sounds like the solar credit forms are just causing normal delays this year. I've been checking my transcript obsessively but maybe I should just be more patient. Has anyone found that calling multiple times actually helped speed up the process, or did your returns just eventually process on their own timeline regardless?
I'm in the exact same boat as you! Filed February 8th with solar credits and have been checking my transcript daily like it's going to magically update overnight. From what I'm reading here, it sounds like calling doesn't actually speed things up - the returns just process when they're ready. I think I'm going to stop obsessively checking and try to be patient like everyone suggests. At least we know we're not alone in this waiting game! The solar credit delays seem to be affecting a lot of people this year.
QuantumQuasar
I just went through this exact scenario last week! My deposit date was April 10th, and like you, I've always received my refunds 1-2 days early in previous years. This year it showed up at 3:45pm on the exact deposit date. Did you by chance file using a different software this year? Or claim any different credits? I'm curious if there's a pattern to who's experiencing these timing changes.
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ShadowHunter
I'm going through this exact same situation right now! My DDD is today (April 17th) and I've been checking my account obsessively since midnight. This is really helpful to read that so many others are experiencing the same timing changes this year. I filed with the same software I always use (TurboTax) and claimed the same credits as last year, so it doesn't seem to be related to filing method or credits claimed. My transcript shows TC846 with today's date and my account number is correct. Based on what everyone is sharing here, it sounds like I should expect it to hit sometime this afternoon rather than panicking that something went wrong. The IRS really should have communicated these processing changes better - a lot of people rely on those early deposits for bill planning! Thanks everyone for sharing your experiences. It's reassuring to know this is a widespread change and not an issue with my specific return.
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