18 Does anyone know if dental and vision insurance premiums count toward the medical expense deduction too? My W-2 doesn't break anything out either.

Just wanted to add another perspective as someone who went through a similar situation last year. One thing that might help is to check if your husband's employer offers an HSA (Health Savings Account) or FSA (Flexible Spending Account). If you're contributing to either of these, those contributions would also reduce your taxable income and might explain why some health-related expenses aren't showing up where you expect them on the W-2. Also, if you do end up itemizing and can deduct some of your medical expenses, don't forget to include things like prescription costs, doctor visits, and even mileage to medical appointments (it's 22 cents per mile for 2024). These smaller expenses can add up and help you reach that 7.5% AGI threshold more easily. FreeTaxUSA actually has a pretty good medical expense tracker if you dig into the itemized deductions section - it walks you through all the different categories of qualifying expenses.

This is why I hate Schedule L. The instructions are so vague!!! I spent like 3 hours on this last night and still couldn't figure it out. Has anyone used TurboTax Business for this? Does it automatically calculate capex or do I still need to manually figure this out? I dont want to spend $170 on the software if it doesnt even help with this.

I've been dealing with Schedule L calculations for years as a tax preparer, and I see this confusion constantly. The key insight that most people miss is that Schedule L is essentially a balance sheet, and when you're calculating capex, you're trying to understand the cash flow implications of changes in those balance sheet accounts. Here's what's happening in your example: The decrease in accumulated depreciation from $9.1M to $6.5M is a huge red flag that significant asset dispositions occurred. This isn't just normal depreciation - when a company disposes of assets, both the gross asset value AND the accumulated depreciation for those assets get removed from the books. For a proper capex calculation, you absolutely need to reference Form 4797 (Sales of Business Property) and potentially Form 4562 (Depreciation). These forms will show you the actual depreciation expense for the year and details about any asset sales or dispositions. Without seeing those supporting forms, you can't accurately calculate capex from Schedule L alone. The formula is correct, but you need the real depreciation expense (not the change in accumulated depreciation) to make it work. Don't get discouraged - this is one of the more complex areas of business tax preparation, and even experienced preparers sometimes need to dig through multiple forms to get it right.

Has anyone else noticed that tax software companies seem to move more forms to their paid tiers every year? I swear H&R Block included Schedule B in their free version back in 2022.

This is exactly the kind of predatory practice that makes tax season so frustrating for regular people. You're absolutely right that Schedule B isn't required for $4 in dividends - the IRS threshold is $1,500, and tax software companies know this but deliberately create confusion to drive upgrades. I've seen this same issue with multiple tax prep companies. They detect any dividend income and immediately flag you for their premium service, even when it's completely unnecessary. It's particularly frustrating because they market their "free" versions heavily but then hit you with these surprise charges right when you're trying to file. Since you've already invested time in H&R Block, I'd suggest trying the workaround that Fatima mentioned - temporarily removing the dividend entry to get past their upgrade checkpoint, then adding it back on the main 1040 form where it belongs. If that doesn't work, FreeTaxUSA and IRS Free File are solid alternatives that won't nickel and dime you for basic forms. The fact that your situation is identical to last year but suddenly requires an "upgrade" tells you everything you need to know about their business model. Don't let them bully you into paying for something you don't legally need.

I've been dealing with this exact situation for years with my international investments. One thing nobody mentioned yet: check if you qualify for the simplified foreign tax credit limit election, where you skip Form 1116 entirely. But with your numbers, you probably don't qualify since the $300 limit ($600 if married) is well below your foreign taxes paid. Also, watch out for which mutual funds you're investing in going forward. I switched to funds that have lower foreign tax exposure to avoid this headache.

This is a frustrating situation, but you're understanding it correctly. When your foreign capital losses exceed your foreign dividend income, it does significantly limit your ability to claim the Foreign Tax Credit for the current year. Here's what's happening: Form 1116 requires you to calculate your net foreign source income by category. In the passive income basket (which includes your dividends), your $15K capital loss more than wipes out your $10.5K dividend income, leaving you with negative foreign source income in that category. You can't claim a foreign tax credit against negative income. However, don't despair - those foreign taxes you legitimately paid aren't lost forever. You can carry them forward for up to 10 years to use when you have positive foreign source income again. Make sure to complete Form 1116 anyway to establish this carryforward, even though you won't get a current year benefit. Also keep in mind that your $15K foreign loss may create an "Overall Foreign Loss" account that could complicate future years' tax calculations when you do have positive foreign income again. For future years, you might want to consider tax-loss harvesting strategies that separate your foreign gains and losses, or look into funds with lower foreign tax drag if this becomes a recurring issue.

Has anyone tried getting W2s directly from ADP or other payroll companies? I know several of my former jobs used ADP for payroll, and they supposedly keep records for many years. Just wondering if that's a viable option before I go through the IRS transcript hassle.

Don't feel bad about being behind on your taxes - you're definitely not alone in this situation! I went through something similar a few years back and it felt overwhelming at first, but it's totally manageable once you get started. One thing that really helped me was creating a simple timeline of my work history first. Even if you can't remember exact dates or company names, try to recall the general timeframe and locations where you worked. Then cross-reference that with your bank statements if you still have access to old ones - look for direct deposits or paychecks that might help you identify employers. Also, don't let perfect be the enemy of good here. The IRS is generally pretty reasonable when you're making a good faith effort to catch up on back taxes, especially if you're being proactive about it. Focus on getting the information you can gather easily first, then tackle the harder-to-find stuff. You mentioned this is technically your first time filing - consider getting help from a tax professional who deals with back taxes regularly. They often have experience with these exact situations and can guide you through the process while making sure you don't miss any deductions or credits you might be entitled to.