Just wanted to add that your tax residency status is super important here. As an F1 student in your 5th year, you mentioned being an "exempt individual" - but this only applies to the substantial presence test for determining if you're a resident or non-resident for tax purposes. If you've been in the US for 5 years already, double-check if you're still non-resident for tax purposes. F1 students typically can claim the exemption for 5 calendar years, so this might actually be your last year filing as a non-resident. If you are indeed still a non-resident, then yes, the 183-day rule applies to your capital gains, and they should be reported on Schedule NEC as others have mentioned.

I went through this exact same issue last year! After hours of frustration with Sprintax not properly handling my capital gains, I found that the key is understanding that as a non-resident who exceeded the 183-day presence test, your capital gains are subject to the 30% flat tax rate under IRC Section 871(a)(1)(A). The problem with most tax software is that they don't automatically recognize this situation. Here's what worked for me: 1. Don't use the 1099-B import feature in Sprintax 2. Go to "Other Income" and select "Income Not Effectively Connected with U.S. Trade or Business" 3. Enter your net short-term capital gains as a single amount 4. Make sure you answer "Yes" to having FDAP (Fixed, Determinable, Annual, or Periodical) income This should generate Schedule NEC and apply the correct 30% withholding rate. Also, since you mentioned you're in your 5th year, double-check your exempt individual status - you might be transitioning to resident alien status soon, which would completely change how your future investment income is taxed. If you're still having issues, consider getting a second opinion from a tax professional who specializes in non-resident returns. The cost is usually worth it to avoid potential problems with the IRS later.

Does anyone know if the "Mixed straddle election" is permanent? Like if I check that box this year, am I stuck with that choice forever? I'm doing some SPX options along with SPY options and trying to figure out if this counts as a mixed straddle situation.

I've been dealing with Form 6781 for my SPX trading for a few years now, and I totally understand your frustration with the desktop version. Here's what I've learned: For those checkboxes, you're overthinking it - if you're just doing standard SPX and VIX options trading without any complex strategies, you probably don't need to check ANY of the boxes. The normal 60/40 tax treatment (60% long-term, 40% short-term) happens automatically for section 1256 contracts without any elections. Only check "Net section 1256 contracts loss election" if you have losses this year AND you want to carry them back to offset gains from the previous 3 years. This requires amending prior returns, so it's only worth it if you had significant gains in those years. For question 8, I just put "Interactive Brokers Options Account" or whatever your actual brokerage is called. Keep it simple. Pro tip: Make sure you're capturing all your section 1256 positions at year-end market value, even the ones you're still holding. The mark-to-market rules mean you report unrealized gains/losses too, which a lot of first-timers miss.

Has anyone tried using TurboTax Self-Employed for calculating quarterlies with mixed income sources? Their website claims it can handle both self-employment and investment income for quarterly calculations.

I've been in a very similar situation and learned this the hard way last year. Yes, you absolutely need to include those short-term capital gains in your quarterly estimated tax calculations. The IRS considers all income when determining if you've paid enough throughout the year to avoid penalties. Here's what I'd recommend: Since you're already using the safe harbor method based on last year's tax liability, you have two main options: 1) Continue with safe harbor payments (100% of last year's tax if your AGI was under $150k, or 110% if over) and pay the additional amount due on your capital gains when you file your return. This is the simplest approach and guarantees no penalties. 2) Recalculate your remaining quarterly payments to include the capital gains. You'd add the estimated tax on your $7,800 gain (probably around $1,170-$2,340 depending on your tax bracket) and spread it across your remaining quarters. Given that your CPA is unavailable and you're worried about getting this wrong, I'd honestly go with option 1 for peace of mind. You can always adjust your approach next year once you have better guidance. The safe harbor rule exists exactly for situations like this where income is unpredictable.

keep calling them every week! i bugged them so much they finally processed mine after 45 days instead of 60

Ugh, I feel your pain! I'm currently on day 73 of my "60-day review" and still waiting. The IRS rep told me the same thing about waiting 120 days but honestly that feels like forever when you're counting on that money. I've been checking my transcript every few days but no updates yet. Has anyone tried requesting their congressman to help? I heard that sometimes works to speed things up.

Looking at all these responses, it sounds like your 570 code with the 971 code is totally normal - just means they're reviewing something (probably your Child Tax Credit claim). The fact that you don't see an 846 code yet means your refund hasn't been released, but that's expected with the hold in place. Based on what the former IRS employee said, you're probably looking at 3-4 weeks total for the review. Since your 570 is dated 05-15-2025, you might see movement in the next week or two. Keep checking your transcript weekly - you'll want to see a 571 code (hold released) followed by an 846 code (refund issued). The 290 code you mentioned for $500 is definitely an adjustment they made, so your final refund will be $500 less than what you expected. The 766 code for $2,800 is likely your Child Tax Credit. If you get tired of waiting and checking codes, it sounds like calling through one of those callback services might help speed things up if an agent can release the hold manually. But honestly, it sounds like everything is progressing normally - just slowly!

I feel your pain! Tax transcripts are like reading a foreign language. I went through the exact same thing last year - had a 570 code for what felt like forever and kept refreshing the Where's My Refund tool hoping for good news. From everything I've learned (the hard way), your situation sounds completely normal. The 570 with the 971 code means they're just doing their due diligence on your Child Tax Credit claim. It's frustrating but super common, especially this year. One thing that helped me stay sane was setting up a weekly reminder to check my transcript instead of obsessing over it daily. The codes will change when they change, and checking every day just made me more anxious. If you're really in a bind and need the money ASAP, calling through one of those services people mentioned might help. But otherwise, it sounds like you're on track for a normal resolution in the next few weeks. Hang in there!