I just wanted to add another perspective on this foreign tax credit issue. I'm a tax preparer and see this problem frequently, especially during busy season. The negative foreign tax credit is almost always a data entry sequence issue rather than an actual problem with your tax situation. One thing I haven't seen mentioned here is that some brokerages report foreign tax withholding in box 6 instead of box 7 on the 1099-DIV, or they might split it across multiple boxes. Make sure you're looking at the right box on your form when entering the foreign tax paid amount. Also, if you have multiple 1099-DIV forms with foreign tax, enter each one completely separately rather than trying to combine the amounts. The software handles individual entries much better than aggregated totals. For anyone still struggling with this, remember that the foreign tax credit is designed to prevent double taxation. You paid tax to a foreign government on income that the US also wants to tax, so the credit makes sure you're not paying twice on the same income. This is why it should always result in a benefit to you (positive credit), never a penalty (negative amount). The $142 credit in the original post is definitely worth claiming correctly - that's money you've already paid in taxes that should reduce your US tax liability.

I want to emphasize something that several people have touched on but might not be clear to everyone dealing with this issue: the foreign tax credit is dollar-for-dollar reduction in your tax liability, which makes it one of the most valuable tax benefits you can claim. When you see that negative amount in your tax software, it's definitely frustrating, but don't let that discourage you from claiming this credit. That $142 isn't just "found money" - it's money you already paid to a foreign government that you're legally entitled to get credited against your US taxes. I've seen people skip claiming foreign tax credits because the software issues made it seem too complicated, but you're essentially leaving money on the table. Even if it takes an hour or two to sort out the software problems, you're earning $142 for that time, which is pretty good hourly pay! For anyone still stuck after trying the delete-and-restart method, I'd also suggest checking if your brokerage has any online resources or customer service specifically for tax reporting questions. Many of the major firms (Vanguard, Fidelity, Schwab) have tax specialists who can explain exactly how their 1099-DIV forms should be entered into different tax software programs.

Just want to add that I've noticed Chime deposits tend to come in waves throughout the day. Last year there was a big morning batch around 10am EST, then another wave around 2pm, and final deposits around 4-5pm. So if you haven't received it yet, don't lose hope until late afternoon. Also, make sure your Chime notifications are turned on so you don't miss it!

Just wanted to share my experience - I have a 3/24 DDD with Chime and got my deposit this morning at 11:47am! So there's definitely hope for those still waiting. I was checking obsessively yesterday but nothing came through until today. For anyone still waiting, it seems like they're processing in batches throughout the day like others mentioned. Good luck everyone! 🙏

Just wanted to add something important about Schedule K line 19a that hasn't been mentioned yet - make sure you're filling out line 19a on the Schedule K, but ALSO completing the corresponding line items for each partner on their Schedule K-1 (in Section 19, codes A and B). I made this mistake last year and it caused confusion with one of our partners who couldn't reconcile their personal tax records with their K-1. The Schedule K line 19a is the total distributions for all partners combined, while the K-1s break down each partner's individual portion.

One thing to be careful about with Schedule K line 19a - if your distributions exceed a partner's basis, that excess could be taxable! This happens when partners take out more money than they've invested plus their share of undistributed profits. We learned this the hard way when our LLC distributed cash from a refinance. Watch your basis calculations carefully.

I've had this exact same issue when buying handmade pottery from a seller in Turin! It's so frustrating when you're stuck in this limbo, but you're definitely not missing anything important. The seller is likely using shipping software that has mandatory VAT/tax ID fields designed for EU business transactions. As a US individual making a personal purchase, you absolutely don't need to provide any VAT number - the US doesn't use that system for consumers. Here's what worked perfectly for me: Tell them to enter "US PRIVATE BUYER - NO VAT" in whatever tax ID field their system requires. This gives them something to input while being completely accurate about your status. For customs documentation, they should use form CN22 (since your $65 purchase qualifies for the simpler form) marking it as "merchandise" with the actual purchase value. Personal imports under $800 don't require any special documentation from you. You can also mention that exports from Italy to non-EU countries like the US are actually VAT-exempt anyway, so they don't need any tax information from US buyers. If they're still confused, suggest they contact their local Poste Italiane office - postal workers handle US exports regularly and know the correct procedures. Don't worry about your purchase being cancelled! This is super common and gets resolved once sellers understand the system difference. I've never had an Italian seller refuse to ship once they realized they could put something generic in that mandatory field.

I've been through this exact situation multiple times when buying from Italian sellers on eBay and other platforms! This is incredibly common and definitely not something you're doing wrong. The issue is that many Italian sellers use shipping software designed for EU business-to-business transactions, which has mandatory VAT/tax ID fields. As a US individual making a personal purchase, you absolutely do NOT need to provide any VAT or tax identification number - the US doesn't use the European VAT system for consumers. Here's what has worked for me every time: Tell your seller to enter "US PRIVATE BUYER" or "EXEMPT - PERSONAL USE" in whatever VAT field their shipping system requires. Explain that as a United States individual, you don't have a VAT number because the US uses a completely different tax system than the EU. For customs documentation, they just need to complete form CN22 (since your $65 purchase qualifies for the simpler customs form) marking it as "merchandise" with the actual purchase value. No tax documentation from you is required since personal imports under $800 don't need special paperwork on the US side. You can also mention that exports from Italy to non-EU countries like the US are actually VAT-exempt anyway, so they don't need to collect any tax information from you. If they're still confused after your explanation, suggest they contact their local Poste Italiane office - postal workers handle US exports regularly and can guide them through the correct procedures. Don't worry about your purchase being cancelled! This is purely a knowledge gap that gets resolved once sellers understand they can put something generic in that mandatory field. I've never had an Italian seller refuse to ship once they understood the difference between EU business procedures and US personal import requirements. Your eBay item will definitely reach you once this gets sorted out!

Just wanted to add something that might help with the documentation side of things - make sure you get a receipt from the charity that includes specific language about the donation. The IRS requires the receipt to state whether you received any goods or services in return for your donation (which should be "no" for a straight boat donation). Also, since you mentioned the boat is in poor condition, document everything thoroughly with dated photos showing the specific issues - hull damage, engine problems, interior wear, etc. This will be crucial if the IRS ever questions your valuation. I learned this the hard way when I donated an old RV and didn't have enough documentation of its condition. One more thing - if you do go the personal donation route and itemize, remember that charitable deductions are subject to AGI limitations. Non-cash donations to public charities are generally limited to 50% of your adjusted gross income, with any excess carrying forward for up to 5 years. Given your boat's value, this probably won't be an issue, but it's worth keeping in mind.

One additional consideration for boat donations that hasn't been mentioned - if your boat has an outboard motor or other valuable removable equipment, you might want to think strategically about what to include in the donation. Sometimes it makes sense to remove and sell valuable electronics, motors, or fishing equipment separately, then donate just the hull if it's truly in poor condition. This approach can sometimes net you more total benefit - cash from selling the good equipment plus a charitable deduction for the remaining boat. Just make sure to adjust your valuation accordingly and document what's included vs. excluded from the donation. The charity will need to know exactly what they're receiving. Also, since you mentioned you itemize for your business, don't forget that if you do end up with a large charitable deduction, it might push you into territory where you'd benefit from bunching multiple years of charitable giving into one tax year to maximize the itemized deduction benefit. Something to discuss with your tax preparer.