Does anyone know if there are exceptions to these rules? I'm military and we've rented our house out during deployments. Not sure if the IRS treats military situations differently with the home sale exclusion.

Thanks to everyone who's contributed to this thread - it's been really helpful! I'm in a similar situation to the original poster and was getting confused by the IRS examples too. Based on what I'm reading here, it sounds like the key is whether you establish the property as your primary residence BEFORE renting it out. The IRS basically rewards you for using it as your actual home first, rather than treating it as an investment property from day one. For @Amara Okafor - your situation sounds like you should qualify for the full exclusion since you lived in it for 18 months first before renting it out, and you're back living in it now. The rental period in the middle shouldn't hurt you based on what others are explaining here. One thing I'm still wondering about though - does it matter HOW LONG the rental period was? Like if someone lived in their house for 2 years, then rented it for 10 years, then moved back in for a few months before selling, would they still get the full exclusion as long as they meet the 2-out-of-5 year test at the time of sale?

Just a quick tip - make sure you're including any state implications when amending for the missed K-1! I only amended my federal return when I had a similar situation and then got a nasty letter from my state tax agency six months later. Had to file a separate state amendment and pay additional penalties for that.

I went through this exact same situation about two years ago with a K-1 from a small business investment. The stress was real! Here's what I learned from the experience: First, definitely file that amended return sooner rather than later. The IRS matching system is automated and will eventually catch the discrepancy - it's just a matter of when, not if. By filing the amendment proactively, you show good faith and avoid the accuracy-related penalty (which is 20% of the additional tax). Second, gather ALL your tax documents from that year before you start. I made the mistake of just focusing on the K-1 and missed some other deductions I was entitled to. Since you're amending anyway, might as well make sure everything is correct. Third, keep detailed records of everything - copies of the amendment, certified mail receipts if you mail it, etc. The IRS processing times for amendments can be really long (took them 8 months to process mine), and having documentation helps if you need to follow up. One last thing - if the K-1 shows any foreign tax credits or other complex items, consider getting professional help. I tried to do mine myself initially but ended up paying a CPA anyway when I realized I was in over my head with some of the partnership accounting details. Good luck with getting this sorted out!

If anyone is still having trouble with the H&R Block error, try entering your investment information using the "Stocks, Bonds and Mutual Funds Not Reported on Form 1099-B" section instead of the regular 1099-B section. For some reason, this alternative entry method shows all the fields more clearly, including the acquisition date field. I know it sounds counterintuitive if you actually have a 1099-B, but the data entry screens are better organized in that section. Just make sure all the numbers match your 1099-B exactly. This workaround fixed the "Date acquired is required entry" error for me without having to contact customer service or use any additional tools.

I had this exact same problem last month! The trick that finally worked for me was looking for a small "More Details" or "Advanced" link on the investment entry screen. In H&R Block, after you enter the basic 1099-B information, there's usually a tiny link (easy to miss) that expands the form to show additional fields including the acquisition date. Also, if you're entering multiple sales of the same stock purchased at different times, H&R Block sometimes requires you to enter each lot separately with its own acquisition date. This might be why the error keeps appearing - the software is expecting individual entries for each purchase date rather than a single combined entry. Try scrolling all the way to the bottom of the investment entry screen and look for any "Show Additional Fields" or similar options. The acquisition date field is often hidden in these expanded sections.

Wait I'm confused about something basic here. Do the 1040-ES vouchers actually help you PAY less in taxes, or are they just about WHEN you pay them? I get these vouchers every year and never know if I should use them.

Just to add another perspective - I had a similar confusion with 1040-ES vouchers when I first started getting them. The key thing to remember is that estimated tax payments are really about avoiding underpayment penalties, not reducing your actual tax liability. If your withholding from your W-2 job already meets the safe harbor rules (90% of current year tax or 100% of prior year tax), then you're golden and can ignore those vouchers completely. The IRS doesn't care HOW you pay your taxes throughout the year - whether through withholding, estimated payments, or a combination - they just want to receive payments regularly rather than one big lump sum at filing time. Since you mentioned you have maximum withholding on your W-2, you're probably already covered. You can verify this by looking at your 2023 return - if your total withholding was at least equal to your 2023 total tax, then you're safe for 2024 even without making any estimated payments.

i was in a similar situation last month. DDD of 1/30 with Woodforest and it hit my account exactly at 3:02am that day. i stayed up just to check lol. they're pretty consistent with the timing.

Based on everyone's experiences here, it looks like Woodforest is pretty consistent - you'll likely see your refund hit your account right at 3am on 2/26, not earlier. I know it's frustrating waiting when you have bills due, but at least you can count on them being reliable with the timing. Maybe set up account alerts so you get notified the moment it deposits? That way you don't have to keep checking manually. Fingers crossed it comes through right on schedule for you!