It's worth mentioning that if this is a side gig on top of your regular W-2 job, you might need to make quarterly estimated tax payments next year if you expect to owe more than $1000 in taxes from your self-employment income. You can get penalties if you wait until filing season to pay everything!

Yes, you absolutely need to report both income sources! The $950 from DoorDash and $135 from Grubhub must both be reported on your tax return, regardless of how small the amounts seem. Here's the key rule: There's NO minimum threshold for reporting self-employment income. While companies only send 1099-NEC forms when you earn $600 or more (so you might not get one from Grubhub), you're still legally required to report ALL income you receive. Since your combined total is $1,085, you'll also need to pay self-employment tax (15.3% for Social Security and Medicare) because you're over the $400 threshold. You'll report everything on Schedule C and calculate the SE tax on Schedule SE. The good news? You can deduct legitimate business expenses like mileage (67¢ per mile for 2024), portion of your phone bill, insulated bags, car chargers, etc. These deductions reduce your taxable income and can make a significant difference in what you owe. Since both gigs are delivery work, you can combine them on a single Schedule C rather than filing separate forms for each app. Keep good records of everything in case of questions later!

There's a specific line on your paycheck labeled "FICA-Social Security" that is 6.2% of your income which funds both retirement and disability insurance. So when people say "my taxes are paying for disability" it's actually an insurance program we all contribute to, just like we all pay into car insurance pools but only some of us will ever need to file a claim!

This is such an important topic that more people need to understand! I work in federal budget analysis and can confirm what others have said - the vast majority of disability benefits come from dedicated payroll taxes, not general revenue. What really opened my eyes was learning that Social Security Disability has one of the most stringent eligibility requirements of any federal program. The medical review process is incredibly thorough - they require objective medical evidence from multiple sources, and the definition of "disability" is much stricter than most people realize. You have to be unable to perform ANY substantial gainful activity, not just your previous job. Your uncle's concerns are understandable but based on misconceptions. The fraud rate in SSDI is actually less than 1% according to SSA's own audits. Most people who receive disability benefits worked for years or decades paying into the system before becoming unable to work due to serious medical conditions.

This is actually a really common misunderstanding about wash sales. What matters isn't the lot numbers but the timing. Whenever you have a loss sale with a purchase of substantially identical securities within the 61-day window (30 days before/after), you have a potential wash sale. I had this exact situation last year with NVDA stock - sold some at a loss and had other shares purchased within the window. My accountant explained that the way the IRS applies the rule, you look at all purchases of the same security within the window, regardless of lot designation.

This is exactly the kind of complex wash sale scenario that trips up so many taxpayers! Based on your description, you're dealing with a partial wash sale situation. Here's what's happening: You sold 140 shares at a loss, but you only have 60 remaining shares from Lot 2 that were purchased within the wash sale window. The wash sale rule will apply, but only to the extent of the shares you still hold - so 60 shares worth of your loss will be disallowed and added to the cost basis of those remaining 60 shares. The math works out like this: - Loss on 60 shares: $1,800 (60 × $30) - this gets disallowed and added to basis - Loss on remaining 80 shares: $2,400 (80 × $30) - this should be deductible Your remaining 60 shares would have an adjusted basis of $125/share ($75 original + $30 disallowed loss per share). Make sure to double-check your 1099-B when it arrives - brokers sometimes miss these nuanced partial wash sale calculations, especially with same-day transactions. You may need to make adjustments on Form 8949 if your broker doesn't report it correctly. Keep detailed records of your calculation method in case the IRS has questions later!

New member here - just wanted to say THANK YOU to everyone who shared their solutions in this thread! 🙌 I've been lurking in this community for days trying to figure out my AGI rejection problem, and this post has been absolutely invaluable. I was making the classic mistake of using my 2023 transcript amount instead of my 2022 originally filed AGI. Just went back through my old FreeTaxUSA account and discovered the IRS had made a small adjustment to my 2022 return that I completely forgot about - only a $127 difference, but apparently enough to cause rejections! Used my original filed amount and my return was accepted within 10 minutes. This community is seriously amazing for helping newcomers navigate these tax nightmares. For anyone still struggling with this issue, definitely try finding your ORIGINAL 2022 filed return before any IRS adjustments - that seems to be the magic solution for most people! 🎉

Just joined this community after spending the last week frantically trying to figure out why my e-file keeps getting rejected! 😫 Reading through all of these experiences has been such a relief - I thought I was the only one dealing with this AGI nightmare! I've been making the same mistakes as so many others here: using my 2023 transcript instead of 2022, and not realizing the IRS had adjusted my 2022 return. After seeing everyone's success stories, I'm going to try finding my original 2022 filed AGI from my old tax software tonight. I vaguely remember getting some notice from the IRS last year about a correction, but I honestly didn't pay much attention to it at the time. Now I'm realizing that small adjustment is probably what's causing all my rejections! If I can't locate my original files, I'll definitely try the $0 workaround that so many people have confirmed works. It's incredible how this one thread has provided more useful information than hours of searching the IRS website. Thank you to everyone who shared their solutions - this community is truly a lifesaver for newcomers like me who are scrambling before the deadline! 🙏

I'm dealing with a similar AMT credit situation from 2022 and this thread has been incredibly helpful! Just wanted to add that if you're working with a tax professional, make sure they're experienced with AMT credits specifically. I learned the hard way that not all CPAs are equally familiar with the mechanics. My first accountant completely missed that I had AMT credits available and I ended up paying way more in taxes than I should have. When I switched to someone who specializes in stock compensation and AMT issues, they caught the error and helped me file amended returns to claim the credits I was entitled to. For anyone in a similar boat - don't be afraid to ask your tax preparer directly about their experience with AMT credit carryforwards. It's a specialized area and you want someone who really knows the rules inside and out, especially when you're dealing with larger amounts like $50k.

This is such a helpful thread! I'm in a similar situation with about $35k in AMT credits from 2023 option exercises. One thing I wanted to add that hasn't been mentioned yet - make sure you understand how state taxes interact with federal AMT credits if you're in a high-tax state. I found out the hard way that California (where I live) has its own separate AMT system, so you can end up with both federal and state AMT credits to track. The recovery mechanics work similarly but they're completely separate - you can't use federal AMT credits against state taxes or vice versa. Also, if you're planning to move to a different state in the coming years, that could affect your recovery timeline since different states have different tax rates and AMT rules. Something to factor into your financial planning if you're trying to optimize when you'll see that money back.