Has anyone found a good way to track these passive losses year to year? I'm using a spreadsheet but it's getting unwieldy with multiple properties.

I've been dealing with this exact same issue in UltraTax for my rental properties! What really helped me understand the distinction was looking at my prior year's Form 8582. The "passive loss carryovers from operating activities" field corresponds to the actual business operations - rent collection, property management, maintenance, repairs, utilities, etc. These are the day-to-day expenses that generate your rental income. The "passive activity carryovers from ordinary business income/loss" field is for the broader business items like depreciation, mortgage interest, and other financing costs that contribute to your overall business loss but aren't directly tied to operations. Since you mentioned you don't materially participate, make sure you're also considering whether you qualify for the $25,000 special allowance if your adjusted gross income is under $100,000. That can sometimes allow you to deduct losses that would otherwise be carried forward. Good luck with your return!

Something nobody's mentioned yet - check if your state offers additional EV incentives that might not have the same income restrictions as the federal credit. I didn't qualify for the federal credit but got $2,500 from my state's clean vehicle rebate program. Also worth looking into whether your utility company offers any rebates for home charger installation. Mine gave me $500 back for installing a Level 2 charger plus special electricity rates for EV charging.

Has anyone actually bought a Tesla recently? I'm wondering if this whole credit thing is even worth it anymore with all their price fluctuations. Feels like every time the tax credit changes, they just adjust their prices to eat up the difference anyway.

The Identity Verification process (IdVer) is distinct from a standard Taxpayer Assistance Center appointment. IdVer appointments specifically address potential identity theft concerns, while TAC appointments handle broader issues. The two forms of identification must meet the Acceptable Documentation standards outlined in Publication 1586, with one being a primary photo ID (passport, driver's license, or state ID) and the secondary ID potentially including birth certificate, Social Security card, or voter registration card. Military IDs are accepted as primary identification across all locations.

Thank you for sharing such detailed information! This is incredibly helpful. I'm curious about one thing though - you mentioned the process took exactly 27 minutes total, but the actual verification with the agent was only 8 minutes. What accounted for the other 19 minutes? Was that mostly waiting time, or were there other steps like check-in procedures or security screening that people should factor into their schedule? I have an appointment next week and trying to plan my day around it.

22 Does anyone know if electric vehicles get any special depreciation treatment for business use? I'm looking at a Tesla Model Y which is around 4,500 lbs (so under the 6,000 threshold) but heard there might be extra incentives.

Just wanted to share my experience as someone who recently went through this exact decision! I ended up choosing the heavier vehicle (Ford F-150 at 6,100 lbs) over a smaller SUV, and it made a huge difference on my taxes. The key thing I learned is that you need to look at your total business use percentage and cash flow needs. Even though the heavier truck cost me $12,000 more upfront, the enhanced depreciation benefits meant I could deduct about $25,000 more in year one (at 80% business use). This significantly reduced my tax liability and improved my cash flow. One tip - make sure you get the GVWR (Gross Vehicle Weight Rating) from the manufacturer's specs, not the curb weight. The GVWR is what the IRS uses to determine eligibility. Some vehicles that seem close to 6,000 lbs might actually qualify based on their GVWR even if their curb weight is lower. Also, don't forget to factor in your state taxes too - some states have additional depreciation benefits for business vehicles that can make the decision even more favorable toward the heavier option.

Has anyone actually tried just putting "0" (zero) in Box 6 on TurboTax to see if that works? I'm facing the same issue and wondering if that's a valid workaround.

I had this exact same problem last year! TurboTax was being super finicky about Box 6 even though my 1099-NEC had it completely blank. After trying several approaches, I found that entering just the two-letter state code where the withholding occurred worked perfectly. In your case, since you mentioned having state tax withheld in Box 5, try entering "PA" (assuming that's where the withholding went based on your earlier comment). This satisfies TurboTax's requirement without making up fake information, and it's actually the logical solution since state withholding has to correspond to some state. I was worried about doing this at first, but my return was processed without any issues and I never heard anything from the IRS or state about it. The key thing is that you're accurately reporting your income and the actual withholding amounts - the state identifier is really just for their matching systems.