Another option is using the free report from Robinhood directly. If you go to Statements & History > Tax Documents, they usually have a section for crypto transactions even if you didn't get an official 1099. You can download this and use it to fill out your 8949 manually. Worked fine for me last year. Just take your time and double-check your math.

Just to add some clarity on the reporting requirements - the IRS actually updated their stance on crypto reporting in recent years. Even if your total gains/losses are small, you're still required to answer "Yes" to the cryptocurrency question on Form 1040 if you had any crypto transactions during the year (buying, selling, exchanging, or receiving crypto as payment). The good news is that if you only had small losses, those can actually help offset other capital gains on your tax return. And if you have net capital losses, you can deduct up to $3,000 against ordinary income each year, with any excess carrying forward to future years. One tip: make sure you're tracking the exact dates and times of your transactions, especially if you bought and sold the same cryptocurrency multiple times. The IRS uses specific identification methods for determining which "lots" you sold, and this can significantly impact your tax liability. FIFO (first-in, first-out) is the default, but you can elect specific identification if you have good records.

4 Is anyone using any specific apps to track their self-employment income and expenses? I'm in a similar situation and looking for something user-friendly that won't cost a fortune.

Congratulations on your unexpected success! You're definitely not alone in this situation - many content creators find themselves in similar positions when their side hustle takes off. The good news is that not having a separate business account isn't a tax disaster. The IRS cares about accurate reporting of income and expenses, not which account they flow through. However, I'd strongly recommend opening a business account going forward to make your life much easier. A few key points for your situation: - You'll need to file Schedule C for your business income and expenses - Don't forget about self-employment tax (15.3% on net profit) - Keep detailed records of ALL income, including those large tips - Track business expenses like supplies, equipment, software subscriptions, etc. Given the complexity and your income level, hiring a CPA is probably a smart investment. They can help you get organized, ensure you're taking all allowable deductions, and set up a system for quarterly estimated payments going forward. The peace of mind and potential tax savings often more than pay for their fees. Also consider setting aside 25-30% of your earnings for taxes if you haven't been doing so already. Better to have too much saved than to be caught short at tax time!

yall need to stop checking WMR every 5 minutes, it aint gonna make it move faster 😭

Been there! Mine was stuck for 6 weeks last year. Here's what I learned: the transcript actually shows way more detail than WMR. Look for processing codes like 150 (return filed) and 846 (refund issued). If you see a 570 code, that means there's a hold. Also check if your AGI from last year matches what you entered - that's a common holdup. The 21 day thing is basically meaningless now with all the backlogs. Hang in there!

this happens ALL THE TIME. irs is a joke fr. i got so frustrated with mine i used taxr.ai - no joke it was amazing. instead of staring at codes i didnt understand it explained everything cleary, showed me what was happening with my refund, and when i could expect it. even told me why it was delayed (had nothing to do with what i thought). saved me hours of stress

I've been dealing with transcript codes for years and wanted to share some insights that might help. The 570/971 combo you're seeing is actually pretty standard - it just means they need to verify something before releasing your refund. The good news is that most of these resolve automatically within 2-4 weeks without you having to do anything. A few things to keep in mind: • The April 29 date is when the codes were placed, not necessarily when the notice was mailed • Mail delivery has been spotty lately, so notices can take longer than usual • If you don't see any movement by May 15th (2 weeks from the code date), that's when I'd recommend calling Your cycle code ending in 05 means your account updates on Fridays, so definitely check your transcript tomorrow. Look for either a 571 code (which removes the 570 hold) or an 846 code (refund issued). Sometimes these issues resolve faster than the notices arrive! Don't stress too much - in my experience, about 80% of these 570 holds are minor issues that get fixed automatically.

If you can't get through to the IRS in time, set up USPS Informed Delivery for your physical address. Back in 2022, I had a similar problem and couldn't get my address changed in time. I set up Informed Delivery for my old address, which at least let me see when the IRS notice was delivered there. Then I was able to contact my old landlord to forward it. Not ideal, but at least I knew when it arrived and could take action instead of wondering if/when it was delivered.

Just went through this exact scenario two months ago! Here's what worked for me: I called the IRS at 7:45 AM EST on a Tuesday (right when they open) and got through in about 15 minutes. The agent was able to see that my 971 notice hadn't been physically printed yet and updated my mailing address to my PO Box on the spot. She also told me it was just a standard verification notice for joint filing status change - nothing scary! Pro tip: Have your SSN, spouse's SSN, and the exact amounts from your tax return ready when you call. They'll ask for all of this to verify your identity before making any changes. The agent also mentioned that newly married couples filing jointly for the first time trigger automatic reviews about 40% of the time, so don't panic - it's probably routine verification. Good luck, and definitely call ASAP since notices typically mail within 48-72 hours of the 971 code appearing!