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.

Just wanted to mention that even though Box 12 codes are important, don't forget to look at your Box 13 too. If you're contributing to TSP, the "Retirement plan" box should be checked. This affects whether you can deduct traditional IRA contributions if you have those as well.

I went through this exact same confusion when I first started dealing with military W2s and TSP withdrawals. One thing that really helped me was creating a simple checklist to make sure I didn't miss anything: 1. **Box 12 codes** - Write down each code and amount, then look up what each one means 2. **1099-R from TSP** - This is separate from your W2 and shows your withdrawal details 3. **Box 13 retirement plan checkbox** - Make sure this aligns with your TSP participation 4. **Early withdrawal penalties** - Check if you qualify for any military exceptions The key thing to remember is that your Box 12 amount and your TSP withdrawal are two completely different things that get reported differently on your tax return. Box 12 shows contributions that were made, while the 1099-R shows money you took out. I'd also recommend keeping copies of all your military tax documents in one folder - you'll thank yourself later if you ever need to reference them for future tax years or if the IRS has questions.

Everyone keeps mentioning accountants, but I think you need a tax attorney for a situation this complex. I made the mistake of just using my regular CPA when I hadn't filed for 5 years, and we ended up with the IRS rejecting the voluntary disclosure and hitting me with serious penalties. An attorney can give you protection through attorney-client privilege that a CPA can't. Just my 2 cents after learning the hard way.

I was in a very similar situation - didn't file for 4 years with my consulting LLC. The key thing that helped me was getting organized BEFORE meeting with a tax professional. I spent weeks trying to reconstruct my financial records from old bank statements and whatever receipts I could find. One practical tip: if you used business credit cards or had dedicated business bank accounts, those statements will be your lifeline for reconstructing deductible expenses. Even without receipts, you can often identify legitimate business expenses from the merchant names and dates. Also, don't panic about the penalties. Yes, there will be some, but the IRS has programs like "first-time penalty abatement" that can help reduce them if you have a clean record otherwise. The fact that you're proactively addressing this before they contact you works heavily in your favor. For your income jump to $650k this year - make sure you're making quarterly estimated payments NOW if you haven't already. That's probably more important than the back years at this point since the current year liability will be substantial. Start gathering your records immediately and find a tax pro who specializes in unfiled returns. Don't let this drag on any longer - every month you wait adds more penalties and interest.

Has anyone here dealt with a partial rollover? My situation is similar but I only rolled over about 80% of my distribution and took 20% in cash. My 1099-R shows the full amount as taxable but I'm not sure how to report that only part of it should be taxed.

Just wanted to add another perspective here - I'm a former school district HR administrator and dealt with TRS rollovers frequently. The code "7" on your 1099-R is unfortunately common when retirement systems don't properly coordinate with the IRS about direct rollovers. What's important is that you have documentation showing it was a direct transfer. Keep any paperwork from both TRS and Fidelity showing the rollover instructions and confirmation. When you file your taxes, you'll report the 1099-R as received, but then correctly indicate it was rolled over to avoid taxation. Also, Fidelity should issue you a Form 5498 by May 31st showing the rollover contribution to your IRA. This form helps the IRS match up that the funds were properly rolled over even if the original 1099-R wasn't coded correctly. Don't panic about the immediate tax liability - just make sure you answer the rollover questions correctly in your tax software!

I've been dealing with the exact same issues! Filed in late November and have been getting locked out constantly when trying to check my transcript. It's so frustrating because you just want to know what's happening with your money. I noticed the lockouts seem to happen more frequently during business hours - I've had better luck checking very early morning or late at night like someone else mentioned. One thing that's helped me is setting up text alerts through my bank so I'll know immediately if a deposit comes through, rather than obsessively checking the IRS site. Also made sure to screenshot all my banking info from my IRS account before I got locked out again, just in case there are any issues with direct deposit like others have mentioned. The security concerns people are raising are really alarming though - definitely going to enable 2FA and change my passwords after reading these comments. Thanks for the heads up about checking account details, that could have saved me a major headache!

This is exactly what happened to me! Filed in early November and have been getting random 24-hour lockouts for the past two weeks. What's really frustrating is that the IRS phone reps give different explanations every time - one said it was "system maintenance," another blamed "suspicious activity detection," and the third claimed it was just high traffic volume. I'm definitely going to check my direct deposit info ASAP after reading about people's banking details getting changed without notice. That's terrifying - imagine waiting months for a refund only to have it stolen at the last minute! For anyone still trying to get through on the phone, I've found calling right at 7am when the lines open gives you the best chance. Still takes forever but at least you're not competing with as many people. The "Where's My Refund" tool has been more reliable than the transcript access, though it gives way less detail about what's actually happening with your return. Stay vigilant everyone - sounds like this tax season is going to be a nightmare between the technical issues and security breaches. Make sure you're monitoring your accounts closely!