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Weirdly, my tax software (TurboTax) asked me if I knew the basis amount even though box 2a was blank on my 1099-R. Anyone else have this happen? Not sure if I should override what's on the form.
Yes! Same thing happened to me. I ended up calling my brokerage (Fidelity) and they gave me my "basis information" which is basically the total amount of contributions I've made. Since my withdrawal was less than my total contributions, I entered that info into TurboTax and it properly showed the distribution as non-taxable.
I went through this exact same situation last year! The blank box 2a on your 1099-R for a Roth IRA withdrawal is actually pretty common and usually means your financial institution doesn't have enough information to determine what portion is taxable. Here's what I learned: You'll need to calculate this yourself using Form 8606. The key is figuring out your "basis" - basically all the contributions you've made to your Roth IRA over the years (not including any earnings/growth). If your $2,700 withdrawal is less than your total lifetime contributions, then it's likely completely non-taxable and you'd enter $0 for the taxable amount. But if you've withdrawn more than you've contributed, then part of it could be taxable earnings subject to penalties. I'd strongly recommend contacting your IRA custodian to get a statement of your contribution history before filing. They should be able to tell you exactly how much you've contributed versus earnings. Don't guess on this - the IRS can be pretty strict about retirement account distributions!
Just download it and take screenshots of the codes section. That way you can reference it easier when people try to help explain things to you
I totally get your confusion! CP74 notices can be really overwhelming when you're not familiar with them. Based on what you described, it sounds like you previously had your Child Tax Credit denied (probably flagged for potential fraud or errors), and you successfully completed Form 8862 to recertify for those credits. The good news is that the notice is saying you're all set - your credits have been restored and you should get your refund within 6 weeks! The best part is you won't have to deal with Form 8862 again for these credits in the future. Just keep an eye on your bank account and maybe check your transcript in a few weeks to see if there's a refund date posted. You're basically in the home stretch now! š
This is incredibly frustrating and unfortunately all too common with TurboTax. I had a similar experience two years ago where my entire filing history just vanished from my account. After weeks of back-and-forth with their support team (who kept asking me to verify information I'd already provided multiple times), I finally got it resolved, but it was a nightmare. A few things that might help: First, if you have your AGI (Adjusted Gross Income) from your 2023 return, you can use that to request transcripts directly from the IRS at irs.gov/get-transcript. Second, check if you saved any screenshots or took photos of your completed return before submitting - sometimes people do this without thinking about it. Third, look through your email for ANY communication from TurboTax around your filing date, even marketing emails, as these sometimes contain account references that can help their tech team locate your missing data. The social media approach mentioned by others really does work - their Twitter support team seems to have more authority than phone reps. Just be persistent and document everything. Don't let them wear you down with their incompetence.
This is really helpful advice, especially about checking for any TurboTax emails from around filing time. I didn't think to look for marketing emails, but you're right - I might have screenshots or other documentation I forgot about. The AGI approach for getting IRS transcripts sounds promising too. I should still have my W-2s and other documents from 2023, so I can probably figure out what my AGI was even without the return. It's just so maddening that we have to jump through all these hoops because they can't keep track of basic account data. But I appreciate everyone sharing their experiences - at least I know I'm not going crazy and this really is a widespread problem with their system.
I feel your pain! I went through almost the exact same thing with TurboTax two years ago. What finally worked for me was filing a complaint with the Consumer Financial Protection Bureau (CFPB). You can do this online at consumerfinance.gov - it's free and takes about 10 minutes. Companies are required to respond to CFPB complaints within 15 days, and I got a call from TurboTax's executive customer service team within 3 days of filing. They were able to locate my missing returns and fix the account linking issue. Turns out there was a database migration problem that affected thousands of accounts, but regular customer service wasn't authorized to access the old database. The CFPB complaint route seems to bypass all the regular support nonsense and gets you to people who actually have the authority and technical access to fix these problems. Worth trying alongside the Twitter approach others mentioned.
Great question about personal assistant deductions! I've been doing bookkeeping for several independent contractors in real estate, and there are a few additional deductions you might be missing. Since you mentioned driving to properties and running errands, make sure you're tracking ALL business miles - not just client meetings but trips to the post office, bank deposits, picking up supplies, etc. Many people only track the obvious trips. For your phone, if you have one line used for both business and personal, you can deduct the business percentage. But if you can get a separate business line, that's 100% deductible and often worth it for the clean record-keeping. One thing people often overlook: professional development expenses. Any courses, certifications, or training related to real estate or admin work are fully deductible. Same with professional memberships or subscriptions to industry publications. Also consider equipment depreciation if you bought a computer, printer, or other office equipment primarily for work. You can either deduct the full cost in the first year (Section 179) or depreciate it over several years. Keep tracking everything in a dedicated business account if possible - makes record-keeping so much cleaner come tax time!
This is really helpful, especially the point about tracking ALL business miles! I've been missing a lot of those smaller trips. Quick question - for the separate business phone line, do you think it's worth getting a second phone or just adding a line to my existing plan? And when you mention professional development, would things like real estate software subscriptions (like MLS access or CRM tools) count as deductible expenses? I'm just starting out so trying to make sure I'm not missing anything obvious.
For the phone line, I'd recommend just adding a second line to your existing plan - it's usually much cheaper than getting a separate phone, and most carriers offer business line add-ons for $10-20/month. You can even get a Google Voice number for free if you want to keep costs down initially. And yes, absolutely! Software subscriptions like MLS access, CRM tools, scheduling apps, document management systems - all 100% deductible as business expenses. Same with things like Canva Pro for marketing materials, DocuSign subscriptions, or cloud storage if you use it for client files. Don't forget about bank fees either - if you open a business checking account (which I highly recommend), those monthly fees and transaction fees are deductible too. It really helps establish that clear separation between business and personal expenses that the IRS loves to see. Since you're just starting out, I'd suggest setting up a simple spreadsheet or using an app like Mint or YNAB to track everything by category. Makes tax prep so much easier when you're organized from day one!
One deduction that's often overlooked for personal assistants in real estate is professional liability insurance! If you're handling sensitive client information or have access to property details, many real estate agents require their assistants to carry E&O (Errors and Omissions) insurance. This is 100% deductible as a business expense. Also, since you mentioned working from cafes - while the coffee itself isn't deductible, if you're buying food/drinks while conducting actual business (like client calls or work meetings), those can qualify as business meals at 50% deduction. Just make sure to note the business purpose on your receipt. For your car expenses, don't forget that parking fees and tolls for business trips are fully deductible on top of your mileage. And if you're using your personal vehicle regularly for work, consider tracking actual expenses (gas, maintenance, insurance percentage) vs. standard mileage rate - sometimes actual expenses work out better, especially if you drive an older, less fuel-efficient vehicle. One last tip: if your broker requires you to maintain a professional appearance for showings, while regular business attire isn't deductible, any special cleaning/dry cleaning costs for clothes worn exclusively during business activities can sometimes qualify. Keep those receipts and notes about the business purpose!
This is such great advice! I had no idea about the E&O insurance being deductible - my broker has been pushing me to get it but I was hesitant about the cost. Knowing it's fully deductible makes it much more manageable. Quick question about the business meals at 50% - does this apply if I'm just taking work calls from a cafe, or does it need to be an actual meeting with clients or colleagues? I do a lot of phone work with clients while at coffee shops, but I'm not sure if that counts as "conducting business" for meal deduction purposes. Also really helpful point about parking and tolls! I've been tracking mileage religiously but completely forgot about all those downtown parking meters when I go to properties. That's probably another $50-100/month I've been missing.
Freya Andersen
This is definitely concerning and you're right to ask for help! As someone who went through a similar situation, I'd recommend documenting everything carefully. Take photos of the form 13873-E and any envelope it came in - sometimes the postmark or processing center information can be helpful. Since you've never filed taxes, there's really no legitimate reason for anyone to request your tax transcript unless it's identity theft or a clerical error. The fact that it failed due to an "incomplete or missing address" actually suggests someone may have tried to use outdated or incorrect information about you. Beyond calling the IRS identity theft hotline that others mentioned, I'd also suggest: 1. File a police report for potential identity theft - you'll want this documentation 2. Consider placing a fraud alert on your credit (this is different from a freeze and lasts 1 year) 3. Keep detailed records of all your communications about this issue The good news is you caught this early! Most identity theft cases that start with transcript requests get much worse if ignored, but you're being proactive. Don't let anyone convince you this is "just a mistake" until you've verified it with the IRS directly.
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Maggie Martinez
ā¢This is excellent advice about documenting everything! I hadn't thought about taking photos of the envelope too, but that makes total sense - the processing center info could definitely help the IRS track down what happened. The point about this potentially getting much worse if ignored is so important. I've heard horror stories of people who thought these were just clerical errors and then months later discovered someone had been using their identity for bigger fraud. Better to spend a few hours now getting to the bottom of it than deal with a massive mess later. Also really good call on filing a police report even if it turns out to be a mistake - having that paper trail could be crucial if this is actually the start of something bigger. Thanks for sharing such thorough advice!
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Olivia Harris
This is really scary but you're doing the right thing by reaching out! I'm a tax preparer and I see situations like this occasionally. Form 13873-E specifically deals with failed Form 4506-C requests, and since you never submitted one, this is definitely a red flag. Here's what I'd recommend doing immediately: 1. Call the IRS Identity Protection Unit at 800-908-4490 (as others mentioned) - they're specifically trained for these situations 2. When you call, have the form ready and ask them to check if there are any other transcript requests or suspicious activity on your account 3. Request a copy of your tax account transcript (Form 4506-T) to see if there's any other activity you're unaware of The silver lining is that whoever tried this failed because of the address mismatch - that actually protected you in this case. But you need to find out who attempted this and make sure there aren't other attempts you don't know about. Also, since you work part-time, you might actually need to file a tax return even with low income if you had federal taxes withheld - you could be due a refund! But that's a separate issue to deal with after you resolve this identity concern. Please update us on what the IRS tells you - this kind of information really helps other students recognize these warning signs.
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Rudy Cenizo
ā¢This is such helpful information from someone who actually works in tax prep! I'm definitely calling that Identity Protection Unit number first thing tomorrow. The part about requesting my tax account transcript is really smart - I want to make sure there isn't other weird activity I don't know about. You're totally right about potentially needing to file even with low income. I think I did have some federal taxes withheld from my bookstore paychecks, so I should probably look into that refund once I get this identity stuff sorted out. I had no idea you could be due money back even if you don't make much! I'll definitely post an update after I talk to the IRS. This whole thread has been so educational and I'm sure other college students could learn from what happens. Thanks for taking the time to give such detailed advice - it really helps knowing there are people out there who understand exactly what this form means and why it's concerning.
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