Has anyone used TurboTax to figure out form 2210 for capital gains? I'm in a similar situation and wondering if the software handles the annualized income method properly.

Just want to add that you should also look into whether you can increase your withholding at your regular job for the remainder of the year. The IRS treats withholding as if it was paid evenly throughout the year, even if you actually increase it all at the end. So if you bump up your W-4 withholding significantly for your last few paychecks, it can help cover those earlier quarters and potentially eliminate penalties entirely. I did this when I had a similar situation with some unexpected freelance income. Had my employer withhold an extra $3,000 from my December paychecks, and it was treated as if I had paid $750 each quarter. Saved me from having to deal with Form 2210 calculations entirely since my total withholding ended up covering 100% of my prior year tax liability.

Don't forget you'll need to track personal vs business mileage separately! The IRS is really picky about this. If you use the same vehicle for both, make sure your Excel sheet clearly distinguishes which trips are for business. Learned this the hard way when I got audited last year over my mileage deductions for my courier service.

This is really helpful info! I'm in a similar situation with consistent routes. One thing I'd add - if you're using Excel, consider adding a column for your vehicle's odometer reading at the start and end of each business day. Even though it's not strictly required by the IRS, it creates a paper trail that shows your total business vs personal mileage split, which can be super valuable if you ever get audited. I learned this from my accountant after she saw how many business miles I was claiming compared to my total annual mileage. Having those odometer readings makes it crystal clear that your business use percentage is legitimate.

Quick question for anyone who knows - would establishing a Hungarian company change the tax situation at all? Like if I set up a Hungarian LLC equivalent and have my income go there instead of directly to me?

I went through a similar situation when the US-South Africa tax treaty was modified a few years back. One thing that really helped me was keeping detailed records of all taxes paid to both countries - it makes claiming Foreign Tax Credits much smoother. Also, don't overlook the potential impact on your state taxes if you're still considered a US resident for state purposes. Some states don't recognize foreign tax credits the same way the federal government does, which could create an additional layer of taxation. For what it's worth, I found that even without full treaty protection, the combination of FEIE and Foreign Tax Credits still prevented true double taxation on my earned income. The bigger headaches came from investment income and retirement account distributions, as others have mentioned. One practical tip: consider timing your move to align with tax year planning. If you can establish Hungarian tax residency early in a calendar year, it gives you more flexibility in how you structure your income for both countries' tax purposes.

I found a workaround in TaxAct that might help. When you import your crypto via CSV, check if the airdrop is already included with the proper cost basis. If it is, you can skip the separate airdrop section. To verify: look at the transaction detail after import. If your airdrop shows a cost basis equal to its value when received, and that same amount is included in your income elsewhere in your tax return, you're good. If the cost basis is showing as $0, then you need to either fix your CSV or use the separate airdrop section.

Thanks for all the helpful advice everyone! I ended up calling the IRS using Claimyr after reading about it here, and the agent confirmed what Zara said - I do need to report both the airdrop as income ($750) AND the capital gain from selling it ($150). The agent also mentioned that TaxAct should handle this properly if I use both sections correctly. For the airdrop section, I'll report the $750 as "Other Income" when I received it. For the CSV upload, I need to make sure my cost basis is set to $750 (not $0) so the capital gain calculation is correct. One thing the IRS agent emphasized that I hadn't thought about - keep really good records of the exact date and fair market value when you receive airdrops. She said they're seeing a lot of amended returns because people are using the wrong dates or values. Going to be much more careful about this going forward!

I'm dealing with a similar situation right now. Filed my 1040X in January and it's been radio silence ever since. The "Where's My Amended Return" tool has been stuck on "received" for over 8 weeks now. What's frustrating is that with regular returns, you at least get status updates like "being processed" or "refund approved." With amended returns, it's basically just "we got it" and then nothing until suddenly a check appears in your mailbox months later. I've been keeping a spreadsheet tracking when I check the status just so I don't go crazy checking it every day. From what I'm reading here, sounds like I need to prepare for a much longer wait than I initially thought. The timing with your PCS move in August is going to be tricky - definitely recommend setting up mail forwarding well in advance since you might still be waiting by then. Has anyone had luck getting more specific timelines by calling the IRS directly, or is it just the standard "16 weeks" response?

I'm going through this right now too and can share some recent experience. Filed my 1040X in late January after discovering I missed claiming some medical expenses. It's now been about 6 weeks and still showing "received" status. What I've learned from talking to other military families (I'm Army) is that the timeline really depends on complexity. Simple amendments like missed deductions seem to take the full 16+ weeks, but more complex ones involving multiple forms or business income can stretch even longer. Since you mentioned a PCS move in August, I'd definitely recommend: 1. Set up mail forwarding through USPS well before your move 2. Update your address with the IRS as soon as you know your new one 3. Consider having the refund sent to a trusted family member's address if timing gets tight The "Where's My Amended Return" tool really is pretty useless compared to the regular tracker. I check mine maybe once a week now instead of daily - saves my sanity. From what everyone's saying here, it sounds like we're all in for a long wait regardless of when we filed. Good luck with your move prep! At least dealing with the IRS gives us practice for all the other military bureaucracy we deal with regularly.