I experienced this exact same issue two weeks ago! Got my approval text at 3:47 PM on a Tuesday and the funds didn't hit my card until 8:23 AM the next morning. What really helped me was calling the Pathward number directly (like Ava mentioned) - they were way more transparent than HR Block's customer service. The rep told me that starting this tax season, they moved from real-time processing to batch processing that runs overnight between 2-6 AM. She explained it's partly due to new anti-fraud measures but also because the volume of advance requests has tripled compared to last year. My advice: stop refreshing your account every few minutes (I know, easier said than done!) and just check first thing tomorrow morning. The money will be there. I also recommend screenshotting your approval text just in case, though I didn't end up needing it. The silver lining? My actual refund came exactly when predicted, so this delay doesn't seem to affect the main refund timeline at all.

This is exactly what happened to me last week! Got approved around 2:30 PM and was checking my card obsessively until I finally gave up and went to bed. Woke up the next morning and boom - there was my $800 advance sitting in my account. What I learned from talking to both HR Block and Pathward: they've definitely changed their system this year. The rep at Pathward was super helpful and explained that they now process these in overnight batches to comply with new banking regulations. She said most people see their funds between 6-9 AM the morning after approval. The frustrating part is that HR Block's marketing still makes it sound instant, but their fine print apparently covers them for up to 24 hours. I think they really need to update their messaging because "instant" and "next business day" are very different things when you're counting on that money! My suggestion: set a phone alarm for 7 AM tomorrow and check then. Save yourself the stress of refreshing all night like I did. The money will be there! 💰

Be careful about one related issue! If any of your margin debt was used for anything other than buying securities that produce taxable income, that portion of interest isn't deductible. For example, if you withdrew cash from your margin account for personal expenses, bought tax-exempt municipal bonds, or purchased options (which sometimes don't count as producing investment income), the related interest might not be deductible.

One thing to keep in mind is that margin interest is only deductible in the year it's actually paid, not when it accrues. So make sure you're looking at the actual payments made in 2024, not just what accumulated on your account statement. Also, if you're planning to carry forward any unused investment interest expense to future years, remember that it maintains its character as investment interest expense. This means in future years, it will still be subject to the same net investment income limitation - it doesn't become a general deduction. For your Tesla situation specifically, since you're dealing with a single stock across multiple purchases, the IRS will view this as one investment activity. The fact that you sold only one batch doesn't limit your deduction to just that portion of the interest - you can deduct up to your total net investment income for the year, which sounds like it covers your full $67,500 in margin interest. Just make sure to complete Form 4952 properly and keep detailed records of all your margin account activity in case of any future questions.

Don't forget to update your W-4 with your employer as soon as possible! I learned this lesson the hard way after my divorce.

I'm going through a similar situation right now and this thread has been incredibly helpful! Just wanted to add that if you're considering Head of Household status, make sure you understand the "more than half the year" requirement. Since you separated in March, you'll likely qualify if your kids have been living with you since then. But also remember that Head of Household requires that you paid more than half the cost of keeping up the home where your qualifying person lived. This includes things like rent/mortgage, utilities, food, and other household expenses - not just child support. The tax savings from HOH vs Single can be substantial, especially if you're in higher income brackets. It might be worth consulting with a tax professional to make sure you're maximizing all available benefits during this transition year.

Has anyone used TurboTax Business for their partnership return? We're a simple 50/50 LLC with basic income and expenses, wondering if it's worth the $200 or if there's a better option.

Great question! I went through this exact same confusion with my LLC last year. Just to add a few practical tips to what Emily covered: 1. Make sure you get an EIN (Employer Identification Number) for your LLC if you don't already have one - you'll need it for the 1065 form. 2. Keep really good records throughout the year of all income and expenses. The 1065 requires you to categorize everything properly, and it's much easier if you're organized from the start. 3. Don't forget about estimated quarterly payments! Even though the LLC doesn't pay taxes directly, you and your partner will likely need to make estimated payments on your individual returns based on your K-1 income. 4. Consider setting up a separate business bank account if you haven't already. It makes tracking business expenses so much cleaner when tax time comes around. The March 15 deadline is firm, so start gathering your documents in January. If you think you might be cutting it close, file that extension (Form 7004) early - it's better to be safe than sorry with those penalties!

Just my experience, but I deducted my hearing aids last year as a medical expense along with some dental work and surgery costs. The combined amount got me over the 7.5% threshold. When you file, make sure you keep all receipts and documentation from your audiologist about the medical necessity. I also got a letter from my doctor explaining why I needed them, which helped support the deduction.

It's not too complicated to itemize, especially if you have substantial medical expenses like hearing aids. You'll use Schedule A instead of taking the standard deduction. The key is making sure your total itemized deductions (medical expenses over 7.5% of AGI, state/local taxes, mortgage interest, charitable donations) exceed the standard deduction amount to make it worthwhile. For 2024, the standard deduction is $14,600 for single filers and $29,200 for married filing jointly. If your hearing aids plus other medical expenses get you over that 7.5% AGI threshold and your total itemized deductions beat the standard deduction, then it's worth doing. Most tax software will automatically calculate both scenarios and tell you which saves you more money.