Has anyone had this situation where the supplemental info on a zero 1099G actually DID affect their taxes? My tax software is asking me to enter this information even though the main fields are zero.

I've seen this exact scenario with my clients before. When your 1099-G shows zeros in all the main payment boxes but has data in the supplemental tax information section, it's typically showing adjustments or corrections that were processed in 2022 but relate to benefits from previous years. Since you didn't receive any unemployment compensation in 2022, you don't need to report any unemployment income on your 2022 tax return. The supplemental information is more for documentation and tracking purposes - it might show things like overpayment recoveries, interest adjustments, or corrections to previously reported amounts. You should definitely keep this form with your tax records, but it shouldn't impact your actual tax filing for 2022. If you want absolute certainty about what those specific numbers mean, you can contact your state unemployment office, but from a tax preparation standpoint, zero benefits received means zero to report on your return.

Does anyone know if there's a minimum amount of loss to make this worth reporting? I only had about $800 worth of crypto on the exchange when it went bankrupt, and I've already received about $200 in distributions. Is it even worth the hassle of calculating all this for a potential $600 loss?

This is such a helpful thread! I'm in a similar situation with about $5,000 worth of crypto that was lost in the bankruptcy. I've been putting off dealing with the tax implications because it seemed so complicated, but reading through everyone's explanations makes it much clearer. One question I have - does anyone know how to handle staking rewards that were earned on the exchange before it went bankrupt? I had been staking some of my assets and earning rewards that were automatically added to my balance. Similar to the interest situation that Dylan mentioned, these rewards were taxable income when I received them, but now they're also lost. Also, has anyone dealt with the situation where you had pending trades or limit orders that never executed when the exchange froze? I'm not sure if those should be factored into the loss calculation or just ignored since the trades never actually completed. The bankruptcy process has been such a nightmare to navigate, but at least understanding the tax side of things will help me plan better for this year's filing. Thanks to everyone who's shared their experiences and knowledge here!

I'm going through this exact same thing right now! Filed in early February, already got my refund, but my wage & income transcript is completely blank while all my other transcripts updated normally. I was getting really worried that maybe there was an issue with my employer's W-2 submission or something was wrong with my return. But after reading everyone's experiences here, it sounds like this is just how the IRS processes things - they can verify our income internally for return processing even though it doesn't show up on the public transcripts right away. Really appreciate everyone sharing their timelines and experiences. Makes me feel a lot better knowing this is normal and I'm not the only one dealing with it!

I'm new to this community and dealing with this exact same issue! Just checked my transcripts today and my wage & income transcript is completely blank even though I filed back in January and already received my refund. I was starting to panic thinking maybe there was an error with my return or my employer didn't submit my W-2 properly. Reading through all these responses has been incredibly helpful - it's reassuring to know this is a common experience and not something I need to worry about. The fact that the IRS can process our returns and issue refunds while the wage transcript stays blank is definitely confusing, but at least now I understand it's just how their system works. Thanks to everyone who shared their experiences and timelines - really helps put things in perspective for someone new to navigating all this!

Pro tip: If you don't see movement after 30 days, call the Taxpayer Advocate Service. They can sometimes help speed things up after an audit closes. Keep all your audit closure docs handy when you call.

I went through the same thing last year! After my audit closed, it took about 4 weeks to get my direct deposit. The key is checking your transcript weekly - once you see the 846 code Wesley mentioned, you'll usually get your money within 5-7 business days. Just be patient, the IRS processing after audits is painfully slow but it will come!

I just want to add that you should also keep an eye on your mail even if you don't get an immediate notice. Sometimes the IRS sends bills months later, and by then the interest and penalties have really added up. I had a friend who ignored what she thought was a "small" tax debt from an amended return, and two years later she got a notice that it had grown to almost double the original amount due to compounding interest. If you know you owe the money, don't wait for them to tell you - just pay it. The IRS charges interest from the original due date of the return (usually April 15th), not from when they send you a bill. So even though you just found out about this debt, if it's from last year's amended return, you've probably already been accruing interest for months.

I had almost the exact same situation happen to me! Filed an amended return that showed I owed about $220, never got a notice from the IRS, and then was surprised when they didn't take it out of my next year's refund. What I learned is that the IRS computer systems aren't as integrated as you'd expect - your current year refund processing and prior year debt collections don't always talk to each other automatically. Plus, when you file an amended return, you're technically supposed to include payment right then and there, not wait for a bill. I ended up calling the IRS directly (took forever to get through) and found out I had accumulated about $45 in interest and penalties over the 8 months I waited. The agent told me that even though they hadn't sent a formal notice, the debt was valid and growing from the day I filed the amendment. My advice: don't wait for them to contact you. Log into your IRS online account to see the exact balance with current penalties, then pay it ASAP. The longer you wait, the more expensive it gets, and trust me, those small amounts add up faster than you'd think!