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Has anyone who filed around February 5th (like OP) seen their transcript update recently? I filed February 7th and mine just updated yesterday after being N/A since filing. Curious if they're processing a specific batch right now.
Filed February 8th here and my transcript just updated this morning! After 4 weeks of N/A status, it finally showed up with processing date 20250307 and cycle code 20250905. Refund amount matched exactly what I expected and shows DDD of 03/12. So yes, it looks like they're working through that early February batch right now. For everyone still waiting - hang in there, seems like they're making progress on returns from that timeframe.
Does anyone know if we need to convert the purchase price from foreign currency to USD when reporting on form 8949? I bought some UK stocks while living in London and the purchase was in GBP, but I sold after moving back to the US and received USD.
Yes, you need to convert both the purchase and sale amounts to USD. For the purchase, use the exchange rate from the date you bought the shares. For the sale, use the rate from the date you sold them. The difference in exchange rates can actually impact your gain/loss calculation, so it's important to do this correctly.
I had a similar issue with some European stocks I sold last year. The key thing to remember is that even without the 1099-B, you're still legally required to report all capital gains and losses. I used Form 8949 and checked Box C (transactions not reported to you on Form 1099-B) and entered all the details manually from my brokerage statements. One tip - if your broker is still "looking into it," get their response in writing via email. If the IRS ever questions the missing 1099-B, having documentation that you tried to get it corrected shows good faith effort on your part. Also make sure you have screenshots or printed copies of your account statements showing both the purchase and sale transactions as backup documentation. The deadline pressure is real, but don't let it rush you into making mistakes. Better to file correctly using your own records than to wait for a 1099-B that might never come.
To all those having trouble reaching a human at the IRS. I just ran across this video that gave me a shortcut to reach a human. Hope it helps! https://youtu.be/wMf29SmRU-I
I've been dealing with this exact same issue! The WMR tool has been a nightmare lately - keeps saying my info doesn't match even though I'm entering everything correctly. It's so frustrating when you know your was approved but then the system just stops working. I tried calling the directly but the wait times are insane. Has anyone found a reliable way to actually get through to someone who can help figure out what's going on with these system glitches?
no cap π feels like its running on windows 95
Same issue here! Filed Feb 2nd and been locked out multiple times. The system seems to be overloaded right now. I called the IRS helpline and they said transcript access issues are common during peak season and should resolve within a few days. In the meantime, you can also check "Where's My Refund" tool which might give you basic status info without needing the full transcript.
KaiEsmeralda
Check your bank too. Not just WMR. Some banks hold IRS deposits. Mine shows pending two days early. Credit unions often faster. Big banks sometimes slower. Weekends delay everything. Tuesday DDDs are most reliable. Friday DDDs can mean Monday actual deposit. Transcript is most accurate source.
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Fatima Al-Suwaidi
Great question! I've been tracking this pattern for the past few years as well. In my experience, WMR typically updates to "Refund Sent" about 1-2 days before your actual DDD, but there can be some variation. I've noticed that if your DDD falls on a Tuesday or Thursday (which are the most common IRS deposit days), WMR usually updates the night before or early morning of the day prior. However, if your DDD is on a Monday, it might update as early as the preceding Friday since the IRS doesn't process over weekends. One thing I've learned is that your transcript with the 846 code and DDD is always the most reliable source - that date is essentially set in stone once it appears. The WMR tool is more for general public updates and can sometimes lag behind their internal processing systems. Have you checked your transcript recently to see if your 846 code is showing yet?
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Grant Vikers
β’This is really helpful info! I'm new to tracking all these details and had no idea the transcript was more reliable than WMR. How do you access your transcript? Is that through the same IRS website or a different portal? Also, when you mention Tuesday/Thursday being the most common deposit days, is that something the IRS officially publishes or just a pattern you've noticed? I'm trying to learn all the ins and outs since this is my first year really paying attention to the timing instead of just waiting for the money to show up eventually! π
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