Has anyone been able to use TurboTax to file an amended return for crypto losses? Their interface is confusing me when trying to enter all my transactions from 2021.

I was in almost the exact same situation! Lost about $8k in crypto in 2021 and completely ignored it on my taxes because I was so frustrated. Finally bit the bullet and filed an amended return (Form 1040-X) last month. The process wasn't as bad as I expected. You definitely should report all crypto transactions even with zero gains - the IRS considers each trade a taxable event regardless of profit/loss. I gathered all my exchange statements, calculated my basis using FIFO method, and filed the amendment. Already got my refund for the $3k loss deduction against my 2021 income, and I can carry forward the remaining $5k to offset future gains or take another $3k deduction next year. Don't let the paperwork intimidate you - it's worth doing especially since you're still within the 3-year window to amend 2021.

I filed way back in February and nothing has changed since May. This is getting ridiculous tbh

Same here! Filed in February and my as of date hasn't budged since August. It's so frustrating not knowing what's going on. I've tried calling the IRS multiple times but can never get through or they just tell me to wait. Has anyone had any luck getting actual answers from them? This whole process is such a nightmare 😤

Quick tip - many states have marketplace facilitator laws now which means platforms like Etsy, Amazon, and eBay are required to collect and remit sales tax on your behalf regardless of whether you have nexus. This covers about 40+ states now. But be careful! If you sell on your own website or multiple channels, you still need to track your total sales across ALL platforms to determine nexus. The marketplace might handle collection for their platform sales, but they don't know what you're selling elsewhere.

As someone who went through this exact same confusion when I started my online business, I totally get your overwhelm! The good news is it's not as scary as it seems once you understand the basics. Since you're based in Arizona, you definitely need to collect sales tax there. For other states, you only need to worry about it once you hit their economic nexus thresholds (usually $100k in sales OR 200+ transactions per year in that state). Here's what I wish someone had told me when I started: 1. Check if Etsy is already handling sales tax collection for you in most states (they probably are!) 2. Keep detailed records of your sales by state - you'll need this info 3. Don't panic about registration until you actually hit thresholds 4. Consider using sales tax software once you start selling in multiple states The key is to stay organized from the start. I use a simple spreadsheet to track my monthly sales by state so I know when I'm approaching any thresholds. Most small businesses don't hit nexus requirements in multiple states right away, so you likely have time to figure this out properly. Focus on growing your business first - just make sure you're collecting Arizona sales tax and keeping good records. The rest will become clearer as your sales grow!

Has anyone looked into opportunity zone investments? I make similar income and invested about $100k of capital gains into a qualified opportunity zone fund last year. You can defer paying tax on those gains until 2027, and if you hold the opportunity zone investment for 10+ years, any appreciation in that investment becomes completely tax-free. Not for everyone since these are typically real estate development projects in economically distressed areas (higher risk), but the tax benefits are pretty substantial if you have capital gains to invest.

Great discussion here! I'd add a few more strategies to consider at your income level: **Mega backdoor Roth**: If your 401(k) allows after-tax contributions and in-service withdrawals, you might be able to contribute up to $70,000 total annually ($23,000 regular + $47,000 after-tax that converts to Roth). **529 plan strategies**: Beyond education savings, some states offer tax deductions for 529 contributions. You can also use 529s for K-12 tuition ($10k/year) if you have kids or plan to. **Timing income**: Consider deferring bonuses to January if possible, or accelerating deductions into the current tax year. Sometimes shifting $10-20k in timing can drop you into a lower bracket. **Professional development**: Conferences, courses, certifications, and professional memberships are often deductible if they maintain or improve skills for your current job. The key is layering multiple strategies rather than relying on just one. Even saving 2-3% effective tax rate on $220k income puts over $5,000 back in your pocket annually. Definitely worth consulting with a fee-only financial advisor who specializes in tax planning for high earners.

Dont 4get to deduct part of ur phone bill and data plan too! When i filed my taxes for uber last year i deducted 80% of my phone costs cuz thats bout how much i use it for the app. also car washes, hand sanitizer, water/snacks for customers if u provide those. lots of little things add up!!

Great question! I've been driving for Uber for about 3 years now and dealt with this exact situation. The consensus from my CPA and what I've found through experience is that those miles to the city ARE deductible as long as your app is on and you're available to accept rides. Here's what I do: I turn my Uber app on before I leave my house and keep it on during the entire 45-minute drive to the city. Even though I rarely get pings in the rural areas, the fact that I'm "available for work" makes those miles business miles rather than commuting miles. I use a mileage tracking app (I prefer Everlance) that automatically logs when I'm driving with location data, and I make notes about when my Uber app was active. This creates a solid paper trail if the IRS ever questions it. One tip: some drivers also do DoorDash or other delivery apps simultaneously during that drive to the city since food delivery can work in more rural areas than rideshare. That way you're potentially earning during the commute and it's clearly business mileage. Keep detailed records and you should be fine claiming those miles!