If your grandparents have online access to their Treasury Direct account, they can log in and download all their tax forms including complete 1099-INTs with the EIN. Might be worth walking them through it over the phone so they can access these themselves in the future.

I totally feel your pain with helping elderly family members with taxes! Just wanted to add that if you're still stuck, you can also call the IRS directly at 1-800-829-1040 and they can help verify the correct EIN for Treasury Direct over the phone. I had to do this last year for my grandfather's bonds and the representative was actually really helpful - they confirmed the 43-1965496 EIN that others mentioned and even helped me understand which parts of the interest were taxable vs. exempt. The wait times can be long (especially during tax season) but it's free and they have access to all the official records. Might be worth trying if the other suggestions don't work out!

This is exactly the kind of complex tax situation where many people get tripped up! Based on what you've described, you're absolutely running a business activity that needs to be reported on Schedule C. Here's what I'd recommend focusing on: 1. **Cost Basis Calculation**: Your effective cost basis should indeed be reduced by cash-equivalent rewards. So $125 purchase minus $17.50 in cashback/portal rewards = $107.50 basis, making your actual profit $7.50 when sold for $115. 2. **Record Keeping**: Track every single transaction with dates, purchase price, sale price, and all rewards earned. The IRS loves detailed records for this type of activity. 3. **Business vs. Hobby**: At $7.50 profit per card, if you're doing this regularly with intent to make money, it's definitely business income subject to both income tax and self-employment tax (15.3% currently). 4. **Quarterly Payments**: If you're making decent money from this, consider making quarterly estimated tax payments to avoid penalties at year-end. The key thing people miss is that those rewards effectively reduce your cost basis when used in a business context, which means you're actually profitable on most transactions even when the card sale price is below your purchase price. Make sure you're setting aside money for taxes - about 25-30% of your net profit is a safe estimate depending on your tax bracket.

One thing I haven't seen mentioned yet is the importance of tracking your time spent on this activity. The IRS looks at whether you're spending "considerable and regular time" on the activity as one factor in determining if it's a legitimate business versus a hobby. For gift card reselling, this includes time spent researching deals, monitoring prices, managing your inventory, communicating with buyers, and handling the actual transactions. I'd recommend keeping a simple log of hours spent, especially if you're doing this consistently. Also worth noting - if you're buying gift cards primarily to earn rewards and the reselling is secondary, the IRS might view this differently than if you're genuinely trying to profit from price arbitrage. The primary intent matters for tax treatment. One more consideration: some credit card companies are starting to flag unusual gift card purchasing patterns, so make sure you're not violating any terms of service that could affect your rewards earning. Nothing worse than building a tax strategy around rewards that get clawed back! Keep excellent records and consider consulting with a tax professional if this activity grows significantly. The intersection of rewards programs and business income can get complex quickly.

Anyone else notice that Form 8802 processing times seem to vary depending on the country you're requesting the Form 6166 for? I've had Germany ones come back in 3 weeks while China ones took nearly 9 weeks.

This is really helpful information from everyone! As someone new to handling Form 8802, I'm taking notes on all these tips. The 4-6 week standard timeframe seems consistent with what others are saying, and I'll definitely keep the expedited processing option in mind for future clients who have urgent deadlines. @Dmitry - for your current situation, it sounds like you'll need to manage your client's expectations and let them know it's likely going to be at least a month. Maybe explain that this is standard IRS processing time and not something you can control. I've found that being upfront about government processing delays usually helps clients understand it's not a reflection of your service. The tools mentioned here like taxr.ai and Claimyr sound interesting for future reference, especially if you regularly handle international tax forms. Thanks everyone for sharing your experiences!

I work in payroll - completely normal for this time of year. The SSA has to process millions of W2s before sending to IRS

Just wanted to add some context as someone who's been through this process multiple times - the timing can vary significantly depending on your employer's payroll provider. Large companies using systems like ADP or Paychex typically get their W-2s submitted faster, while smaller employers might take until closer to the January 31st deadline. Even after submission, the IRS wage transcript system updates in batches, not continuously. One thing that helped me last year was setting up IRS account alerts, but honestly checking every few days just made me more anxious. The transcript will populate when it's ready, and you'll have plenty of time to file accurately. If you're really pressed for time, you can always file using the W-2 your employer provides directly and the IRS will match it up later during processing.

Has anyone had their energy efficiency credits audited? I'm worried about claiming the full credit with my rental situation.

I went through this exact situation last year with a new HVAC system and 14% rental use. You're absolutely right that you can claim the full credit since you're under the 20% threshold. The IRS does consider rental activity as "business use" even though it's passive income. A few practical tips from my experience: Keep detailed records of your square footage calculation (I drew up a simple floor plan with measurements), save all your heat pump documentation including the Energy Star certification, and make sure your contractor can provide proof that the system meets the efficiency requirements. The IRS wants to see that you can justify both the qualifying equipment and the business use percentage. Also, don't forget that you'll need to use Form 5695 when you file. The credit gets applied directly to reduce your tax liability, which is great since it's not dependent on your income level like some deductions are.