Just wanted to mention that recreating a depreciation schedule isn't necessarily super expensive. I'm surprised your new tax pro is making a big deal about it. When I switched accountants, mine recreated 8 years of depreciation schedules for about $150. They said it was pretty straightforward since residential rental property typically uses straight-line depreciation over 27.5 years. You might want to ask for a specific quote before assuming it'll be expensive. Also worth considering is that you'll need this documentation whenever you sell the property to properly calculate your adjusted basis and depreciation recapture, so it's an investment in proper record keeping.

I'm a CPA and this situation is unfortunately more common than it should be. Your previous preparer was absolutely required to file Form 4562 if they were claiming depreciation on your rental property - there's no way around it in legitimate tax software. What likely happened is one of two scenarios: 1) They were filing the form but just not giving you copies (which is still poor practice), or 2) They were manually entering depreciation amounts without properly completing the required schedule (which is concerning from a compliance standpoint). Before paying to recreate everything, I'd strongly recommend requesting your complete tax return transcripts from the IRS first. You can do this online through the IRS website or by calling them. The transcripts will show exactly what forms were filed with your returns. If Form 4562 was actually filed, you can request complete copies of your returns including all schedules. If the forms weren't filed properly, then yes, recreating the depreciation schedule is necessary and worth the investment. Just make sure your new preparer gives you copies of everything going forward - you should always have a complete copy of your tax return including all schedules and supporting documentation.

Make sure you file a statement with your joint return! My husband is on a J1 and I'm a citizen - we file jointly and have to include a statement that says "XXX [non-resident spouse name] and YYY [US citizen spouse name] are making the election to file a joint tax return pursuant to section 6013(g) of the Internal Revenue Code for the tax year 2023." You sign and date it and attach to your 1040. If you don't include this statement, the IRS might reject your return or question your filing status later! We learned this the hard way lol.

I went through this exact situation two years ago when I was on a J1 visa and my husband was a US citizen finishing his PhD with minimal income. After running the numbers both ways, we definitely saved money filing jointly. The key things that made filing jointly beneficial for us were: 1. Higher standard deduction ($25,900 vs $12,950 for married filing separately) 2. Access to education credits for my husband's tuition expenses 3. Potential eligibility for other credits like the Child Tax Credit if you have kids However, you'll need to be aware that by filing jointly, you're electing to be treated as a US resident for tax purposes, which means: - You'll report your worldwide income (not just US income) - You may lose certain tax treaty benefits available only to nonresidents - You'll need to include the election statement that others mentioned I'd strongly recommend calculating your taxes both ways before deciding. Also, don't forget that if you file jointly, your spouse will need an ITIN if they don't have an SSN. The whole process was actually smoother than I expected once I understood the requirements!

Just a personal experience - I didn't file my 2021 taxes until last March (so over a year late) and I ended up owing about $1800 in taxes plus around $400 in penalties and interest. The longer you wait, the worse it gets. File ASAP even if you have to use incomplete information and then amend later. A rough filing now is better than a perfect filing months from now when it comes to penalties.

I was in almost the exact same situation last year - missed filing 2022 taxes due to a job change and cross-country move. The stress was eating me alive until I finally bit the bullet and filed. Here's what I learned: if you're getting a refund (which many people are), there's literally NO penalty for filing late. The IRS isn't going to penalize you for being late to collect money they owe you. You just lose the refund if you wait more than 3 years. If you do owe money, the failure-to-file penalty is brutal (5% per month), but here's the key - it stops accumulating once you file. So even if you can't pay immediately, filing stops the bleeding on the biggest penalty. My advice: gather whatever documents you have and file this weekend. Don't wait for every single paper to be perfect. You can always amend later if needed, but getting that return filed stops penalties from growing and gives you options for payment plans. The relief I felt after finally submitting was incredible - way better than the months of anxiety I put myself through by procrastinating.

Is anyone here familiar with whether theres any tax benefit to donating some of these kinds of collections instead of selling? I heard something about being able to deduct the full value if you donate to a museum or something?

One thing to keep in mind is the holding period for inherited assets - since you inherited these baseball cards, they're automatically considered "long-term" regardless of how long you actually hold them before selling. This means you'll qualify for long-term capital gains treatment (which for collectibles is that 28% max rate Luis mentioned) even if you sell them right away. Also, if you're planning to sell the entire collection, consider spreading the sales across multiple tax years if the amounts are substantial. Since collectibles are taxed at that higher 28% rate rather than the preferential rates for stocks, managing the timing of sales can help with tax planning, especially if it keeps you in lower overall tax brackets. Make sure to keep detailed records of each sale - the IRS likes to see documentation for collectible transactions, so track the specific items sold, sale prices, and your basis in each piece. Good luck with those home renovations!

Has your attorney discussed an installment agreement as a backup plan? Even while disputing the CP22A, sometimes it makes sense to set up a minimal payment plan to show good faith and prevent more aggressive collection actions. You can still pursue reconsideration while making small payments. When I went through this, we set up a $50/month payment plan while my documentation was being reviewed. This kept collections off my back, and once the IRS adjusted my liability downward, they applied the payments I'd already made and recalculated the plan. Just something to consider as a strategic move.

I went through something very similar last year - CP2000 to CP22A in just three weeks because I initially tried to handle it myself without understanding the timeline. The key thing to remember is that a CP22A isn't actually the "final" notice, despite how it reads. It's the IRS's assessment, but you absolutely still have recourse. Your attorney should immediately file for audit reconsideration AND request a Collection Due Process (CDP) hearing if you haven't already. The CDP hearing is crucial because it puts an automatic stay on collection activities while your case is being reviewed. This means no liens or levies while you're fighting the assessment. One thing that really helped my case was getting a transcript of my account from the IRS to see exactly what information they had versus what they were missing. Sometimes the disconnect is clearer when you see their records side-by-side with your documentation. Your attorney can request this, or you can get it yourself online. The $14,750 amount suggests they're probably treating some transaction as having zero basis when you actually have documentation showing your cost basis. This is super common with stock sales where the 1099-B doesn't include basis information that was reported separately or carried over from previous years. Stay persistent - I know it's stressful, but these cases are absolutely winnable when you have the right documentation and follow the proper procedures.