Did you check if you have any other codes? Sometimes 766 appears with other codes that could indicate delays

Code 766 basically means the IRS processed your return and moved the refund credit to the next step in their system. The 4-15-2025 date is just their standard placeholder - don't read into it! You're in processing limbo right now. Keep an eye out for code 846 which means your refund has actually been sent out. Usually takes 1-3 weeks after 766 appears but can be longer depending on their workload.

Does anyone know if the reporting threshold applies here? If I'm paying mortgage interest to an individual that's less than $600 for the year, do I still need to file the 1099-INT? Our monthly interest payment is only about $45.

Thank you all for this incredibly helpful discussion! As someone dealing with the exact same situation, I really appreciate everyone sharing their experiences and knowledge. @Alexis Robinson - your original question perfectly captured what I've been struggling with too. Based on all the responses here, it sounds like the key is identifying who you're paying the mortgage to. Since you mentioned it's a business property with mortgage payments, if you're paying a traditional bank or financial institution, you shouldn't need to issue any 1099 forms at all. The breakdown that @Katherine Harris provided is really clear - it's all about the type of entity receiving the payments. The $27,600 in interest you mentioned would only need to be reported on a 1099-INT if you're paying an individual, LLC, or partnership (not a corporation or bank). One thing I'd definitely recommend is getting this confirmed directly with the IRS or a tax professional before filing, especially given the amount involved. Better to be absolutely certain than to face issues later during an audit.

Has anyone here handled this through H&R Block's software instead of TurboTax? I'm having a similar excess contribution issue but use H&R Block.

I went through this exact same headache last year! The key issue is that TurboTax's interface can be confusing when the tax year of the excess contribution differs from the year you're filing. Since you made the excess contribution in 2022 but are filing in 2025, TurboTax might not be showing the right prompts. Here's what worked for me: Go to the "Income" section first, then look for "Health Savings Account (HSA)" rather than starting in the deductions/health section. When you get to the HSA income questions, there should be an option about distributions or withdrawals. Enter your total distribution amount ($1888.78) there. The system should then ask you to categorize the distribution. This is where you can specify that $1825 was an excess contribution removal (which won't be taxed) and $63.78 was earnings (which will be taxable income). Make sure your 1099-SA matches what you're entering - if the codes are wrong like others mentioned, definitely get a corrected form from your HSA provider first. Also double-check that you're in the right tax year section of TurboTax. Sometimes the software defaults to the wrong year if you have multiple years saved.

Has anyone here used the wash sale rules with Section 1256 contracts? I thought they were exempt from wash sale rules but my tax guy says otherwise.

One thing to keep in mind is that while your Section 1256 losses will offset your capital gains, the timing of when you realize these losses matters for tax purposes. Since Section 1256 contracts are marked-to-market at year-end, any open positions you have on December 31st will be treated as if they were closed at fair market value on that date. This means if you have any open futures positions that are currently at a loss, those unrealized losses will automatically become realized losses for tax purposes at year-end, even if you don't actually close the positions. Conversely, if you have open positions with unrealized gains, those will become taxable gains. So if you're planning your tax strategy, you might want to consider whether to close your losing positions before year-end or let them get marked-to-market automatically. Either way, the tax impact is the same, but closing them gives you more control over the exact timing and amounts.

I would be somewhat careful about expecting the exact same timing as last year. While Republic does tend to follow patterns, I've noticed they occasionally implement new processing procedures during peak tax season. Last year, several people in my tax group reported delays of 1-2 days longer than their previous year's experience, particularly for refunds issued between February 20-28. It might be prudent to anticipate your deposit arriving anytime within a 3-day window rather than expecting the precise timing from last year.

I'm with Republic too and totally feeling this anxiety! 😅 My DD date was 3/14 and I've been obsessively checking since 6am. What's interesting is that I called Republic's customer service yesterday and they mentioned they've been experiencing higher than usual volume of tax refund deposits this year, which might explain some delays. The rep told me to check again after 2pm CST today since that's when their second batch typically processes. I'm trying to stay patient but man, when you're expecting a decent refund it's hard not to refresh every few minutes! Has anyone else noticed if Republic sends any kind of notification when the deposit actually hits, or do you just have to keep checking your balance?