Just wanted to add my perspective as someone who went through this exact situation last year. Since you're renting out your entire apartment while you're away for work travel, this is most likely Schedule E (rental income) rather than Schedule C (business income). The key test is whether you're providing "substantial services" to guests. Things like daily housekeeping, meals, or concierge services would push it toward Schedule C. But if you're just providing basic accommodations (clean space, linens, maybe some basic amenities), that's typically rental activity. For the TurboTax asset questions - you'll need to indicate that you don't own the property. Look for options like "rented property" or "subleased property" in the software. You won't have depreciation since you don't own the asset, but you can still deduct legitimate expenses like your portion of rent, utilities, cleaning supplies, and any furnishings you purchased specifically for guests. One important note: make sure your lease allows subletting! Even though you still have to report the income either way, violating your lease could create other problems with your landlord.

One thing that might help clarify your situation - the IRS has specific guidelines about what constitutes "substantial services" for Airbnb hosts. Generally, if you're just providing basic accommodations (furnished space, linens, basic amenities) without daily housekeeping, meals, or other hotel-like services, it's treated as rental income (Schedule E). Since you're renting out your entire place while traveling and not living there simultaneously, this strongly suggests Schedule E rather than Schedule C. The fact that you don't own the property actually makes this clearer - you're essentially subleasing temporarily. For the TurboTax questions about asset information, look for an option that says something like "I rent this property from someone else" or "Property not owned." You won't have purchase dates or depreciation, but you can still deduct legitimate expenses proportional to your rental activity. Make sure to keep good records of your rental days vs. total days in the year, as this percentage will determine how much of your rent, utilities, and other apartment-related expenses you can deduct. Also double-check that your lease permits subletting - while you still must report the income regardless, lease violations could create separate legal issues.

This is such a frustrating situation with your supervisor! I totally get the stress. One thing that might help while you're waiting for the acceptance notification is to document exactly what errors you've identified and gather all the supporting documentation you'll need for the amendment. That way once you get the green light, you can move quickly on the 1040-X preparation. Also, since this happened so close to filing, you might want to double-check if a superseding return would be an option instead of an amendment - it could save your client months of processing time if you're still within the filing deadline period. ProSeries should be able to handle either approach once you know which route to take.

I feel your pain about the supervisor situation - that's so stressful when you're not done with your review! Just wanted to add that if you do end up going the superseding return route (which sounds like it could be perfect for your timing), make sure your supervisor is on board with the approach first. Since they were the one who filed the original return, you'll want to make sure they understand the superseding process and agree to it before you proceed. Also, keep in mind that if the original return has already been accepted by the IRS, you might be past the window for a superseding return depending on your state's rules and the specific timing. But if it's still processing or was just filed yesterday, you could be in good shape. The superseding route would definitely be worth exploring given the potential 6-8 month processing delay everyone's mentioning for amended returns right now.

As someone who just went through this exact situation, I'd recommend sticking with your EIN. The identity protection benefit alone is worth it - you're not giving your SSN to every client you work with. The maiden name/married name issue is actually pretty straightforward. When you file your taxes, you'll use your married name on your 1040 form, but on Schedule C (where you report your business income), you'll list your business name as "Jane Smith DBA Jane Doe" (using your actual names obviously). The IRS sees this connection all the time. Since you already have the EIN set up and submitted one W-9 with it, I'd just continue using it consistently. It's actually more professional looking than an SSN on business forms. The only thing I'd suggest is making sure you update all your payment processors (PayPal, Stripe, etc.) to use the EIN instead of your SSN if you haven't already - learned that lesson the hard way! Don't overthink it - both are valid options, but the EIN gives you better privacy protection for your contracting work.

I was in almost the exact same situation when I started my consulting business! Got married, had to deal with the name change, and was super confused about EIN vs SSN. Here's what I learned: Stick with your EIN - it's actually the better choice for several reasons. First, you're not sharing your SSN with every client, which is a huge privacy win. Second, it makes you look more established and professional. Third, if you ever decide to form an LLC or corporation later, you'll already have the business infrastructure in place. The maiden name/married name thing is totally manageable. On your tax return, you'll use your married name on the main 1040 form, but on Schedule C you'll show your business as "Married Name DBA Maiden Name" and include your EIN. The IRS deals with this constantly - it's not unusual at all. Since you already submitted a W-9 with your EIN to the financial advisor, I'd recommend being consistent and using that same EIN for your new client too. Just make sure when you introduce yourself to the new client that you mention your business operates under your maiden name (which is on the EIN), even though you personally go by your married name. One tip: make sure all your payment processors (PayPal, Venmo, etc.) are updated to use your EIN instead of your SSN. This prevents any tax reporting mismatches down the road. You're actually in a good position having gotten the EIN - even if you end up finding permanent employment, you can always keep it for any future freelance work!

I'm surprised nobody has mentioned the potential for basis adjustment due to the "kiddie tax" that might have applied while the shares were in the UGMA account. If the custodial account generated dividends or other income that exceeded certain thresholds while you were a minor, there could be implications for your basis calculation. Also, don't forget to check if there were any return of capital distributions over the years that would have reduced your basis. With shares held this long, it's surprisingly common.

This is exactly the type of complex situation where getting professional help makes sense. Between the original employee stock options, the UGMA transfer, multiple corporate actions (two mergers!), and decades of potential dividend reinvestments, you're dealing with a multi-layered basis calculation that could easily result in overpaying taxes if handled incorrectly. A few additional things to consider that others haven't mentioned: 1. Check if your brokerage has any historical records from when the shares were transferred in 2018. Sometimes they capture basis information from custodial accounts even if it's not immediately visible. 2. Contact the current company's investor relations department - they often maintain historical information about corporate actions, stock splits, and merger terms going back decades. This documentation will be crucial for your basis calculations. 3. If your father still has any old tax returns from around 1992 when he exercised the options, those might show the income he recognized, which would help establish his original basis. 4. Don't overlook state tax implications - some states have different rules for gift basis than federal tax law. Given the potential tax savings involved with shares held for 30+ years, it's probably worth investing in proper documentation and calculation rather than guessing. The IRS is pretty strict about substantiating basis claims, especially on large gains from old securities.

I'm glad I found this discussion! I'm 19 and had a very similar experience with Cash App earlier this year. Put in about $40 total across some basic stocks and crypto, made around $3 in gains, then got that intimidating tax notification email that made it sound like I absolutely had to file something. After reading through all the helpful responses here, I feel so much better about my situation. The explanation about the difference between income being technically "taxable" versus actually requiring a tax return really clicked for me. With such small gains and being claimed as a dependent by my parents, I'm nowhere near that $1,250 unearned income threshold. What I found most helpful was understanding why these apps send those scary-sounding emails to everyone - they're just protecting themselves legally since they can't give personalized tax advice. It's like they have to assume the worst-case scenario for everyone, even those of us with tiny amounts. For anyone else in a similar boat with small Cash App investments, this thread has been incredibly reassuring. It's nice to know we're not alone in being confused by those generic warning emails!

This thread has been incredibly helpful for so many young investors! As someone who works in tax preparation, I just wanted to add a few clarifying points that might help others in similar situations. First, you're absolutely right that Cash App and other investment platforms are required to send those warning emails to all users regardless of amounts - it's a legal compliance requirement, not a personalized assessment of your tax situation. For college students who are claimed as dependents, the key thresholds for 2025 are: - Unearned income (like investment gains): $1,250 - Earned income (like job wages): $12,950 - Total income exceeding the standard deduction Since your $1.73 in gains falls well below these thresholds, you have no filing requirement. However, it's still good practice to keep records of your investments for future reference, especially as your investment activity grows. One thing I'd add is that even though you don't need to file now, understanding these basics early will serve you well as your investing journey continues. The confusion you experienced is completely normal - most people don't learn about investment taxes until they actually need to!