One thing to consider that hasn't been mentioned - FreeTaxUSA saves your returns indefinitely for free. TurboTax only gives you access to previous years' returns if you keep paying them every year or if you pay extra to download a PDF. This became a huge issue for me when I needed my tax returns from 3 years ago for a mortgage application. I had switched from TurboTax to FreeTaxUSA 2 years prior and couldn't access my old TurboTax returns without paying again. With FreeTaxUSA I can log in anytime and access all my previous returns.

Great comparison! I've been using FreeTaxUSA for the past 3 years after getting burned by TurboTax's unexpected upgrade fees. One thing I'd add is that FreeTaxUSA's customer support is actually pretty solid when you need help - I had a question about reporting my employer's HSA contributions vs. my own contributions and they responded via email within 24 hours with a detailed explanation. The manual entry aspect you mentioned is spot on. While it takes a few extra minutes, I actually prefer it because I catch things I might have missed with auto-import. Last year I noticed a discrepancy in one of my 1099s that the automatic import probably would have just pulled through without me noticing. For anyone still on the fence, FreeTaxUSA also has a really good error-checking system that runs before you file. It's caught a few mistakes for me over the years, including once when I accidentally entered the same 1099-INT twice.

The community consensus is correct - transcripts don't contain viewable copies of your actual 1040 forms. I verified this with the IRS on April 3rd, 2024, after spending considerable time searching for this feature. According to the representative I spoke with, this limitation is by design, as the transcript system was created to verify specific tax data points, not to serve as a document repository. For those who need the actual forms, maintaining your own records is essential. I personally keep digital copies of all tax returns going back to 2015, organized by tax year in a secure cloud storage solution.

This is incredibly helpful information that I wish I had known earlier! I've been struggling with this exact issue for my small business loan application. The bank kept asking for my "actual tax returns" and I kept sending them transcripts thinking they were the same thing. Now I understand why they kept rejecting them. I ended up having to dig through my old TaxAct account from 2022 and fortunately found the PDFs still there. For anyone else in a similar situation, definitely check your tax software first before going through the lengthy Form 4506 process. It's frustrating that the IRS transcript system doesn't make this distinction clearer - would save a lot of people time and confusion!

This might sound obvious but have you tried just calling Computershare and EQ directly? I've found their international support lines are actually pretty helpful with tax form issues. When I had a similar mix-up (I'm Canadian but lived in the US temporarily), the Computershare rep walked me through exactly what forms to submit and even sent me the correct forms by email.

Just to add one more thing that others haven't mentioned - check if any taxes have already been withheld at the US person rate (usually no withholding) instead of the non-resident rate. If dividends have been paid while your W-9 was on file, you might need to address this specifically.

Has anyone used Square for charity auctions? My daughter's school is doing a similar thing next month and they mentioned using Square readers for payment processing at the event.

Nina, I completely understand your frustration - the tax receipt requirements can definitely be a roadblock when you're trying to move quickly on event planning. Here's what I'd recommend based on your timeline concerns: First, absolutely call the charity tomorrow instead of waiting for email. When you call, ask specifically for their "third-party fundraising coordinator" or whoever handles events like yours. Have these questions ready: 1) Can they provide you with their EIN and a letter authorizing you to collect donations on their behalf? 2) Do they have standard tax receipt templates for donors? 3) What's their preferred method for handling auction payments - through their accounts or yours? While you're waiting to connect with them, you can definitely start collecting commitments from potential donors. Just be upfront that you're finalizing the paperwork with the charity and will follow up with official donation forms within a few days. This keeps your momentum going without creating any legal issues. One thing to keep in mind: if businesses are donating items worth over $250, they'll need written acknowledgment from the charity to claim the deduction. For smaller donations, a simple receipt might suffice, but the charity still needs to be involved in the documentation process. Don't switch charities just yet - most legitimate 501(c)(3) organizations have dealt with third-party fundraisers before and should have a standard process. They're probably just overwhelmed with communications. Give them one good phone call before making any major changes to your plans.

Random but important question - are you deducting depreciation on your rental portion? My accountant told me I HAD to take depreciation on the rental portion of my property even if I didn't want to. Something about recapture taxes later?

This is exactly the kind of confusion I went through when I first started renting out part of my home! Here's what I've learned after dealing with this for a few years: For your basement-only expenses (blinds $175, faucet repair $95, repainting $300), these are all deductible as repairs since they maintain the existing condition of the rental unit. The thermostat ($120) - if it only controls the basement, it's fully deductible too. For shared expenses (porch light $65, garage door $220, re-keying $180), you'll need to calculate your rental percentage. Measure the square footage of the basement rental unit versus your total house square footage. Let's say it's 35% - then you can deduct 35% of those shared costs. Your personal upstairs expenses (bedroom carpet $1400, kitchen faucet $85) aren't deductible at all since they don't benefit the rental. One thing that really helped me was creating a simple spreadsheet to track everything by category: rental-only expenses, shared expenses, and personal expenses. Make sure to photograph all receipts and keep detailed records. The IRS loves documentation! Also, don't forget about the bigger deductions - you can deduct your rental percentage of mortgage interest, property taxes, and homeowner's insurance. These add up to much more than the repair costs you mentioned.