Has anyone used the free NOL webinars that the IRS offers? I saw they have some coming up next month, but wondering if they're worth the time or if they're too basic for complex situations like this?

I went through this exact same confusion last year with my Schedule E and NOL calculations. The key insight that finally clicked for me is that you need to think of these as separate layers of limitations that apply in a specific order. Your PYA basis carryover gets applied first to determine your current year allowable passive losses. This flows through Schedule E to your Form 1040. Then, if your total deductions exceed income after all these calculations, you'd have an NOL subject to the 80% limitation. What really helped me was creating a simple worksheet to track each step: 1. Calculate current year passive income/loss 2. Apply PYA basis carryover to increase allowable losses 3. Flow net result to Form 1040 4. Calculate total taxable income 5. If negative, apply 80% NOL limitation for carryforward The IRS instructions make it sound way more complicated than it actually is once you understand the sequence. Don't let it drive you crazy - you're on the right track asking these questions!

I'm going through the exact same thing right now! Completed my ID.me verification on March 12th after being asked to verify due to filing Head of Household for the first time (also went through a divorce last year). It's been 2 weeks and still showing the first bar on WMR with no transcript updates. The waiting is honestly the worst part - especially when you're dealing with divorce expenses and really need that money. From what I'm reading here, it sounds like 3-4 weeks is pretty typical, so hopefully we'll both see movement soon. Has anyone had luck calling the Taxpayer Advocate Service if it goes beyond the normal timeframe?

I'm going through this exact same situation right now! Just completed my ID.me verification on March 15th after they flagged my return for identity verification. Like many of you, I'm also filing Head of Household for the first time due to a recent divorce (finalized in January). It's been 10 days now and still stuck on the first bar of WMR with transcripts showing N/A. The waiting is absolutely brutal, especially when you're already dealing with divorce-related financial stress. Reading through everyone's experiences here is actually really reassuring - it sounds like 3-4 weeks is pretty normal, and most people seem to get their refunds well before that 9-week maximum the IRS quotes. I'm trying to stay patient, but checking WMR multiple times a day has become an obsession! Has anyone noticed if there's a particular day of the week when updates typically happen, or is it pretty random?

Has anyone noticed that even if the UBTI is under $1000, you still get a K-1 with all these weird boxes filled out? my brokerage never explained any of this when i bought EPD in my ira. now every year i get a massive k1 package and have no idea what to do with it.

This is exactly why I tell people to think twice before putting MLPs in retirement accounts! I made the same mistake years ago with Kinder Morgan Partners in my traditional IRA. The UBTI calculation can be tricky because it's not just about whether your investment is profitable overall - it's about the underlying business income the MLP generates. Even if your shares are down, the pipeline or energy infrastructure might still be generating taxable business income that gets passed through to you. One thing I learned: if you do decide to keep MLPs in retirement accounts, try to consolidate them with one custodian. Having multiple brokerages each handling different MLP positions makes tracking that $1000 UBTI threshold much more complicated since you have to aggregate everything yourself. Also, don't forget that UBTI isn't just from capital gains when you sell - it's ongoing income from the MLP's operations. So even holding underwater positions can still generate tax obligations if the partnership is profitable.

I'm so grateful for this community! When my refund was stuck last year I was panicking about how it would affect everything else in my financial life. The advice here saved me SO MUCH stress! ❤️ One thing I learned that might help you - keep filing on time even with the previous year unresolved. The worst thing you can do is let one delayed return cause you to be late with the next one. That creates ACTUAL problems instead of just potential ones. Sending good vibes that both your returns get processed soon!

I can relate to your anxiety about this situation! I went through something similar two years ago where my refund was delayed for almost 8 months. What I learned from that experience is that the IRS processing systems are actually quite compartmentalized - each tax year really does get handled separately in most cases. One thing that helped ease my mind was ordering my tax transcripts online. The transcript will show you exactly what's happening with your 2023 return - whether it's just in a backlog queue or if there's actually an issue that needs resolution. Sometimes the "Where's My Refund" tool just shows generic status messages while the transcript reveals more specific information. Also, definitely don't delay filing your 2024 return because of this. Filing on time (or by extension deadline) is crucial regardless of what's happening with previous years. The penalties for late filing are much worse than any potential complications from having overlapping processing periods. Have you tried calling the Taxpayer Advocate Service? They can sometimes help expedite cases that have been delayed unreasonably long. After 11 months, you'd definitely qualify for their assistance. Just document everything - dates you called, reference numbers, etc. It becomes really important if you need to escalate later.

Things that helped me after waitng 4 months for my mailed return last year: 1. Getting through to a human at the IRS using Claimyr (claimyr.com) - finally got confirmation they had my return 2. Having my certified mail receipt handy with tracking number 3. Checking my transcript instead of Where's My Refund (more detailed) 4. Calling right at 7am when they open 5. Contacting my representative's office as a last resort Don't lose hope - it'll get processed eventually!

I'm going through something similar - mailed my 2022 return in late March and it's been 6 weeks with no record showing up anywhere. The waiting is incredibly stressful, especially when you're counting on that refund money. From what I'm reading here, it sounds like paper returns are just taking an extremely long time to process due to the IRS backlog. I'm going to try some of the suggestions mentioned here like checking early Saturday mornings for transcript updates and maybe using one of those callback services to actually talk to someone. Hang in there - seems like we're all in the same frustrating boat with mailed returns this year!