Dont forget about state taxes too!! Depending on your state, you might owe significant state taxes on that gain. Some states give preferential rates to capital gains, but many tax them as ordinary income at the state level.

Great thread everyone! As someone who went through a similar situation with a large inherited property sale, I want to emphasize a few key points that have been mentioned: 1. **Form 8949 → Schedule D → Form 1040 flow is correct** - Don't try to separate them. The tax software/worksheets handle the preferential rates automatically. 2. **Definitely make estimated payments** - With a gain that large, you're looking at roughly $1.5M+ in total taxes (federal + NIIT + state). The underpayment penalties on that amount would be painful. 3. **State taxes vary wildly** - Some states have no capital gains tax, others treat it as ordinary income. This could easily add another $500K+ to your tax bill depending on your state. 4. **Consider tax-loss harvesting** - If you have any other investments with losses, now might be the time to realize them to offset part of this gain. One additional tip: if this was inherited property, make sure you're using the stepped-up basis from the date of inheritance, not your grandparents' original purchase price. That could save you hundreds of thousands in taxes if the property appreciated significantly while they owned it. With this much money involved, definitely get professional help - either a CPA who specializes in high-net-worth situations or use multiple verification methods like the tools others mentioned. Better to spend a few thousand on professional advice than make a costly mistake!

25 Has anyone run into this issue with TurboTax? I have a similar foreign tax situation but with about $230 withheld from dividends on some international index funds. Wondering if this is just an H&R Block software issue or if I'll hit the same problem.

I've dealt with this exact issue before and it's frustrating! The negative foreign tax credit is definitely a software glitch, not how it should appear. Here's what worked for me: First, make sure you're entering the dividend information in the correct order. Enter the GROSS dividend amount (the total before any foreign tax was withheld) as your dividend income. Then, separately, enter the $142 as foreign tax paid - but make sure it's a positive number. If H&R Block keeps making it negative automatically, try this: Go to the dividend section first and verify the gross dividend amount is correct. Then find the foreign tax section and manually clear out any negative values. Re-enter just the $142 as a positive amount in the "foreign tax paid" field. The key thing to remember is that you're claiming a credit for tax that was already paid on your behalf to a foreign government. This reduces your US tax liability, so it should never be negative. If the software won't accept it, there might be an issue with how your broker reported it on the 1099-DIV form. Don't skip claiming this credit - $142 is real money that should reduce your tax bill!

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 wonder if the seller is actually trying to use a shipping service that primarily handles B2B shipments? Some logistics companies in Italy have forms that require a VAT/tax ID field to be filled and won't process without it. If that's the case, maybe suggest they use a different shipping service like regular postal mail (Poste Italiane) instead of a business courier for your small purchase? The Italian postal service is more accustomed to handling personal packages without requiring tax IDs.

I've dealt with this exact situation multiple times when buying from Italian sellers on eBay. The confusion usually stems from their internal shipping software or the courier service they're using, which has mandatory fields for VAT/tax IDs that they think need to be filled. Here's what has worked for me: Tell the seller to enter "EXEMPT - PERSONAL USE" or "US PRIVATE BUYER" in the VAT field, and explain that US individuals don't have VAT numbers since we use a different tax system. For the customs declaration, they should mark it as "Gift" or "Merchandise" with the actual purchase value. If they're still confused, you can also suggest they contact their local post office (Poste Italiane) or shipping provider for guidance on exporting to the US. Most Italian postal workers are familiar with shipping personal items internationally without requiring buyer tax IDs. The key is being patient and helpful - many smaller sellers genuinely don't know the export procedures and just need a little guidance. Once they understand, future shipments to the US will go much smoother for them.