I didn't know about this! Is it too late to use VITA if I already filed once? My income definitely qualifies.

It's definitely not too late! VITA volunteers can help with amended returns too. Just bring a copy of your originally filed return, the rejection notice, and all your tax documents (W-2s, 1099s, etc.) to your appointment. Many VITA sites operate through tax season and even a bit beyond (usually until April 15th, but some go through the October extension deadline). Call before going to make sure they're still open and to schedule an appointment, as many sites get booked up quickly.

This is really important! I once got an email saying I needed to "refile" but it was literally just one box I needed to check about healthcare coverage. Took 2 minutes to fix and resubmit on the same site.

Does this mean I should keep all these tax forms forever? My file cabinet is already stuffed with old paperwork.

You don't need to keep the Form 1040-V itself permanently, but you should keep your actual tax returns and supporting documents for at least 3 years after filing. That's the general time period the IRS has to audit your return. For tax payments, keep proof (like canceled checks or electronic payment confirmations) for at least 7 years. If you're not sure whether you need a document, it's better to err on the side of keeping it rather than throwing it away and needing it later.

Check if you claimed Earned Income Credit or Additional Child Tax Credit. Those automatically delay processing until at least Feb 15. Also, paper returns are taking 6-8 weeks minimum this year.

If I have the carried over loss from last year AND new losses this year, do I have to use the old losses first? Or can I choose which losses to apply? I'm trying to maximize my deduction over multiple years.

You don't get to choose - the IRS rules require you to use carryover losses first before applying new losses. The process works in this specific order: First, apply your carryover losses against any capital gains you have in the current year. If you still have carryover losses remaining and no more gains to offset, then you can use up to $3,000 of those carryover losses against ordinary income. Only if you've used up all your carryover losses and still haven't hit the $3,000 limit would you then start applying your new losses from the current year. For example, if you carried over $1,200 from last year and have $2,500 in new losses this year with no gains, you would use the $1,200 carryover first, then $1,800 of your new losses to reach the $3,000 limit. The remaining $700 of new losses would carry forward to next year.

Wash sales complicate things but your 1099-B should have the adjusted basis already calculated. You'll need to check Box B on Form 8949 (if basis was reported to IRS) and then enter the information exactly as shown on your 1099-B. The loss that was disallowed due to the wash sale is already factored into the adjusted basis amount. When using tax software, make sure you indicate that this transaction involved a wash sale if it asks. Most modern brokerages track this for you now, but it's good to double-check the amounts match what's on your 1099-B.

Thanks for explaining! That helps a lot. I was overthinking it - so I just need to copy what's on the 1099-B and the wash sale adjustment is already built into those numbers. My broker did mark it as a wash sale so I'll make sure to check that box in my tax software.

Wow $4k is a lot! Do you know what specific deductions they were missing? I'm now second-guessing myself about how thorough I've been with my rental property deductions.

The biggest miss was around home office deductions related to managing their rentals. They had never claimed any home office space despite doing all the management work from home. The accountant also found some vehicle expenses they hadn't claimed properly and reclassified some repairs they had made as capital improvements that could be depreciated differently. Another thing was timing of income and expenses between tax years. The accountant showed them how to legally shift some income and expenses between years to minimize their overall tax burden. It's all completely legitimate, just strategic in a way they hadn't considered with TurboTax.

Would the proposal likely include retirement accounts or just taxable investments? I'm nowhere near the wealth threshold, but just curious how comprehensive it would be.

Retirement accounts would almost certainly be excluded from any unrealized gains tax proposal. These accounts already have specific tax treatment - traditional accounts are tax-deferred until withdrawal, while Roth accounts are already post-tax money growing tax-free. The proposals being discussed are primarily targeting accumulated wealth in taxable accounts that currently allows some ultra-wealthy individuals to avoid income taxation by holding appreciating assets indefinitely, borrowing against them for living expenses, and never triggering taxable events through sales.

That's way too simplistic. The IRS absolutely challenges valuations on items worth significant amounts. Try valuing a $1M painting at $2M for a charitable donation and see how that goes. With billions in tax revenue at stake, they'd implement strict appraisal requirements.