I had my verification appointment on February 12, 2024, and my refund was deposited on March 8, 2024 - exactly 25 days later. My transcript updated on March 1 showing the release of the verification hold. I brought my driver's license, passport, social security card, W-2, last year's tax return, and a utility bill. The agent said I was overprepared but that it made the process smoother. Check your transcript on April 15 and April 22 - those should be key update dates based on your Monday appointment timing.

The timeline really varies, but here's what I've learned from going through this process twice. After my verification appointment, it took about 3 weeks for my transcript to update with code 971/571 showing the identity hold was released. Then another 2 weeks for the actual refund to hit my account - so 5 weeks total. Key things that helped speed mine up: - Brought original documents (not copies) - Had my AGI from last year memorized - Asked the agent to notate my file that verification was successful The 9-week timeframe is their maximum, but most people I know got theirs between 3-6 weeks. Keep checking your transcript on Wednesdays - that's when most updates happen. And don't stress if WMR still shows "processing" - it's notoriously slow to update after verification appointments. Good luck with your appointment Monday! The plumbing gods will hopefully smile upon your refund timing 🔧

Just to add my 2 cents - I think the Treasury EIN is actually 72-0000000 for interest payments, not 94-1111111. I had this same issue last year and that's what I used for the payer ID.

I went through this exact same situation two years ago and can confirm the information Lucas provided is correct. For IRS refund interest 1099-INT forms, you should use: - Payer: United States Treasury - EIN: 94-1111111 - Address: You can use either the Ogden, UT or Kansas City, MO service center address I actually called the IRS when I lost mine and after waiting on hold for 2+ hours, the agent confirmed these are the standard payer details they use. She also mentioned that as long as you report the correct interest amount and use the proper Treasury EIN, your return will process normally since they have the matching records on their end. One tip - make sure to keep a digital copy or photo of important tax docs like this in the future! I now scan everything to cloud storage right when it arrives. Good luck with your filing!

I'm just curious - how much was the depreciation recapture tax hit for those who had to pay it? I'm in year 2 of renting out my primary residence and considering moving back in specifically to avoid capital gains taxes when I eventually sell. My house has appreciated about $180k since I bought it, and I'm trying to calculate if moving back for 2+ years makes financial sense versus just selling it as an investment property and paying the capital gains tax.

Based on your situation, you should be able to claim the full Section 121 exclusion without any issues. You clearly meet the ownership and use test (2 out of 5 years before sale), and the key factor working in your favor is that you moved back into the home and lived there until you sold it. The non-qualified use rules from 2008 specifically state that any period AFTER the last date you used the property as your principal residence doesn't count against you. Since your rental period (2015-2017) occurred BEFORE your final period of residence (2017-2024), it shouldn't affect your exclusion eligibility at all. However, you will need to recapture any depreciation you claimed during the rental period at the 25% rate - this is separate from the Section 121 exclusion. Make sure you have good records of the rental period dates, and keep documentation showing when you moved back in (utility bills, address changes, etc.) in case the IRS ever asks. Given the complexity and the significant money involved, you might want to consider getting a professional analysis of your specific situation to make sure you're reporting everything correctly. The peace of mind is usually worth it when dealing with large capital gains.

Just wanted to add that timing your sale might be important here. Since you've already used it as a rental for 2.5 years, you only have another 2.5 years before you'd fail the 2-of-5 year test! If you delay selling and cross that 3-year rental mark, you might lose your eligibility for the exclusion entirely. Something to keep in mind if you're on the fence about selling now vs later.

This is such a common situation and you're definitely on the right track! I went through almost the exact same scenario a few years ago - lived in my house for 8 years, converted to rental for about 2 years, then sold. The good news is that you absolutely can still claim the capital gains exclusion since you meet the 2-of-5 year residence test. The rental period doesn't disqualify you from the exclusion at all. A few things to keep in mind that helped me: - Make sure you have good records of when you moved out and started renting (lease agreements, utility transfers, etc.) to establish the timeline - The depreciation recapture that others mentioned is real - I ended up owing about $8,000 on that portion at the 25% rate - Don't forget about any improvements you made during your 9 years of living there - those can be added to your cost basis One thing I wish I had known earlier is that you're actually running against a clock now. Since you've been renting for 2.5 years, you only have another 2.5 years before you'd lose eligibility for the exclusion entirely. So if you're planning to sell anyway, sooner rather than later might be beneficial tax-wise. The whole process was much more straightforward than I expected once I understood the rules. You're in a good position!

One important detail about worthless securities that hasn't been mentioned: Make sure you have documentation showing exactly WHEN the securities became worthless. This matters because you must claim the loss in the correct tax year. The IRS is pretty strict about this. If you claim the loss in 2024 but the stock actually became worthless in 2023, they could disallow your deduction. Look for bankruptcy filings, public announcements of liquidation, or final SEC filings if it was a public company. Also, if your company did a formal bankruptcy, check if you received any kind of distribution, even a tiny one. This could affect how you calculate your loss.

Just wanted to mention another good resource: if your company had a transfer agent (the company that managed your stock issuance and ESPP), try contacting them directly. Even if the company is gone, the transfer agent often maintains records. In my case when a company went under, Computershare was the transfer agent and still had all my records. They provided documentation showing my purchase history and confirmation that the shares had no value after the company liquidated.