Has anyone else had issues with farm startup costs? I'm in a similar situation (40 acre property, making money from online content but not actual farm products yet), and my tax software keeps flagging my equipment purchases saying I need to depreciate instead of taking Section 179. So confused about what's allowed in the first year.

This is a really interesting situation that's becoming more common! I'm dealing with something similar - I have a small organic vegetable operation that I'm documenting on TikTok and Instagram, and the social media income is actually outpacing my produce sales right now. From what I've researched and discussed with my accountant, keeping them separate (Schedule C for content, Schedule F for farm) seems to be the safest approach. The IRS likes clear distinctions between different types of business activities. Even though your YouTube content is about the farm, the income source is fundamentally different - you're being paid by Google for ad revenue, not by customers for farm products. One thing I'd add is to make sure you're tracking any equipment or expenses that serve both businesses. For example, if you buy a tractor that you use 80% for actual farming and 20% for filming content, you'll need to allocate those costs appropriately between the two schedules. Same goes for things like your phone if you're using it to film and manage both businesses. Also, don't worry too much about the farm showing losses initially - that's completely normal for startup agricultural operations. Just make sure you have a solid business plan showing how you intend to generate farm income in the future. The fact that you're actively working the land and making investments shows business intent rather than hobby activity.

I've been through this exact situation! Had code 570 for about 8 weeks last year and it was torture waiting. What helped me stay sane was setting up a weekly check routine instead of obsessively looking every day. The IRS usually updates transcripts on Fridays, so I'd check then and try to forget about it the rest of the week. In my case, it turned out they were just double-checking my filing status since I switched from married filing separately to jointly. Once they cleared it, I got my refund within 2 weeks. Hang in there - I know it's easier said than done when you're counting on that money!

I'm going through the exact same thing right now! Filed in mid-January and got hit with code 570 about 10 days ago. It's so stressful not knowing what they're reviewing or how long it'll take. I've been trying not to check my transcript every day but it's hard when you're expecting that refund money. Reading everyone's experiences here is actually pretty comforting - seems like most people do eventually get it resolved, even if it takes longer than we'd like. Has anyone had success calling the IRS to get more info, or do they just give you the same vague "additional processing time needed" response?

Question - do I still need to pay into US Social Security if I'm paying into NZ's superannuation system? Feels like I'm double paying for retirement!

As someone who just went through this exact situation last year after moving to Auckland, I can definitely relate to the overwhelm! The key thing that helped me was getting organized early and understanding that yes, you absolutely still need to file US taxes. Since you worked in both countries during 2023, you'll need to gather documents from both employers - your final W-2 from the Boston company and whatever tax documents your NZ employer provides (they should give you an IR3 or similar). One thing I wish I'd known earlier: keep detailed records of your exact dates of travel and residence. The IRS is very specific about qualifying days for the Foreign Earned Income Exclusion, and having precise documentation makes everything smoother. Also, don't stress too much about the NZ tax year difference (April to March vs January to December). You'll report your 2023 calendar year income to the US, regardless of how NZ splits it across their tax years. The good news is that once you get through your first year of expat taxes, subsequent years become much more routine. You've got this!

One thing nobody's mentioned yet - if you're considering withdrawing from your Roth IRA because you need funds, make sure you've exhausted other options first. Retirement money should really be a last resort. Also, remember that while you can withdraw contributions anytime, if you take out earnings before age 59½ (with some exceptions), you'll pay taxes PLUS a 10% penalty on those earnings. And once you take money out, you can't put extra back in to "make up" for it beyond your annual contribution limits.

A trick I learned from my accountant - if you can't figure out the contribution vs earnings split from your records, look at your Form 5498s from previous years. The IRS gets these forms from your plan administrators showing your contributions each year. You can request wage and income transcripts from the IRS that include these forms going back several years. Might save you some headache if you can't get the info from Fidelity directly.

Has anyone else noticed that TaxACT seems to struggle with calculating QBI deductions correctly for partnerships? We had to manually override some of their calculations last year. Wondering if they've fixed this for the current tax season?

I can definitely confirm that you can file just a 1065 partnership return through TaxACT without doing your personal taxes through them. I've been doing this for our small real estate partnership for the past three years. You'll want to look specifically for their "TaxACT Business" software, not their personal tax version. The business edition includes Form 1065 and all the related schedules you'll need for rental properties, including depreciation schedules and K-1 generation for you and your brother-in-law. A few tips from my experience: - The business version does cost more than personal, but it's still reasonable compared to going to a CPA - You can absolutely e-file the 1065 - no need to print and mail - Their rental property depreciation module works pretty well for straightforward situations - Make sure to keep good records of your basis in each property, as you'll need this for the K-1s For a simple two-property partnership like yours, TaxACT Business should handle everything you need without any issues. Just be prepared to spend a bit more time learning the interface if you're used to their personal tax software - the business side has more complexity but it's still user-friendly overall.