One thing none of these comments mentioned - the SALT cap is scheduled to expire after 2025! So if you're buying a home now, in just a couple years the cap might go away and you could potentially deduct your full SALT amount again. Of course, Congress could extend the cap or create a new limit, but it's worth keeping in mind for long-term planning.

Great discussion everyone! As someone who went through this exact analysis last year, I wanted to add a few practical tips for @cc288379ec13: 1. Don't forget about PMI - if you're putting less than 20% down, your mortgage insurance premiums are also deductible (subject to income limits). This can add another $1-3k to your itemized deductions. 2. Track your charitable contributions more carefully once you're itemizing. Even small donations to Goodwill, church offerings, etc. can add up to meaningful deductions. 3. Consider timing some deductions strategically. For example, if you're close to the itemizing threshold, you might want to bunch charitable contributions into alternating years to maximize the benefit. The $18k property tax you mentioned is indeed high, but if you're in a state like NY, NJ, or CA, that's unfortunately pretty normal for decent areas. Just make sure you factor in the tax benefits when comparing the total cost of homeownership vs. renting. One last thing - property taxes can increase over time, but your deduction will still be capped at $10k, so factor that into your long-term planning.

Just to add to the confusion lol - I'm pretty sure you need to file Form 8283 if your gift was non-cash and over $5,000... like stocks or property. That's what my accountant told me when I gifted some shares to my kids last year.

I was in almost the exact same situation last year! I gave my daughter a substantial gift for her wedding and was completely confused about the filing requirements. After doing a lot of research and speaking with a tax professional, I can confirm what others have said - you absolutely do NOT need to file a 1040 just because you're filing Form 709. The key thing to understand is that gift tax filing requirements are completely independent from income tax filing requirements. Form 709 is due April 15th (same deadline as 1040) but it's processed separately. Since you had no reportable income, you're not required to file a 1040, period. One tip - when you file your 709, make sure you keep detailed records of the gift amount and recipient information. This helps with tracking your lifetime exclusion usage for future gifts. Also, double-check that your gift amount actually requires Form 709 filing - if it was under the annual exclusion amount ($17,000 for 2023), you might not need to file at all!

I'm honestly shocked by how many ppl think the IRS has the resources to handle the volume they get. They're processing ~2.5 MILLION returns per week with Reagan-era computers and half the staff they need. The fact that anyone gets their refund within 21 days is a miracle.

I'm in almost the exact same situation - filed 3/15, accepted same day, and still showing "still being processed" (not just "being processed"). Based on what others have said here about the wording difference, sounds like we're both stuck in manual review. The child tax credit you mentioned is probably what triggered it since those are getting extra scrutiny this year. I've been checking my transcript obsessively but no codes like 570 or 971 either. Just the waiting game at this point. At least now I know it could be 30-120 days for manual review instead of the mythical 21 days they advertise. Hang in there!

Just an FYI - even if you aren't required to file due to low/no income, sometimes it's worth filing anyway. My brother had zero reportable income in 2022 but filed to claim refundable credits and ended up getting money back! Things like the Earned Income Credit might apply depending on your situation.

I had this exact issue in 2023 - no income but I did have a failed business attempt that lost about $5k. Called a tax preparer who wanted to charge me $250 just to tell me if I needed to file! Ridiculous.

Has anyone had the experience where TurboTax actually does let you e-file with Form 7202? My husband could swear he e-filed with it last year. Feel like some of this info might be outdated.

I went through this exact same situation earlier this year! After reading through all the responses here, I ended up using taxr.ai like Sophie and Connor mentioned, and it was honestly a game-changer for my Form 7202 amendment. The key thing that helped me was realizing that no matter which route you go - TurboTax's delayed 1040X feature, switching to new software, or using an AI service - you're still going to have to print and mail the forms. The IRS just doesn't accept e-filed amendments with Form 7202 attached, period. What made taxr.ai worth it for me was the time savings. As a self-employed person with multiple income streams like you, re-entering everything from scratch would have been a nightmare. The PDF upload feature worked perfectly and caught all my Schedule C details accurately. My advice: don't wait for TurboTax's 1040X feature if you want your refund sooner. Use one of the automated services to prepare your amendment, send it certified mail like Kelsey suggested, and then use Claimyr if you need to follow up with the IRS later. The whole process will still take months, but at least you'll get it started quickly!