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This is totally normal! Your transcript won't show your current year return info until it's fully processed, which can take 2-3 weeks for e-filed returns. The old address is just what's on file from previous years. Once they process your 2023 return, the transcript will populate with all the current info including your new address. Just be patient - if there were any issues with your return, you'd receive a rejection notice within 24-48 hours of filing.
Same exact situation here - filed 1/31 with TurboTax and got the Credit Karma advance but WMR still shows "processing" π Starting to think the advance actually slows things down somehow? My sister filed regular without any advance and already got her refund last week. This whole PATH Act delay is brutal when you're already stressed about money
Has anyone actually heard of the IRS penalizing someone for filing Form 8865 with incorrect dates? I'm in a similar situation with a UK partnership (April-March fiscal year) and have been reporting the fiscal year that STARTS in my tax year rather than ENDS. Now I'm worried I've been doing it wrong for 3 years! Do I need to file amended returns? Or just fix it going forward? The difference is substantial because we had a major property sale in April 2023 that I reported on my 2023 taxes, but now I'm thinking it should have been on my 2024 return instead!
You should definitely file amended returns. The IRS is increasingly focused on international reporting, and Form 8865 errors can trigger penalties of $10,000+ per form. I'd recommend working with a tax professional who specializes in international taxation to get your prior years corrected. The property sale being reported in the wrong year is particularly concerning since that's a significant event that could draw attention. Better to fix it voluntarily before they come knocking!
Thanks for the reality check. I didn't realize the penalties could be that severe! I'll look into finding a specialist to help with the amended returns. This whole form is so needlessly complicated compared to domestic partnership reporting.
I feel your frustration with Form 8865 - it's one of the most confusing forms the IRS has ever created! I've been dealing with this exact issue for my Canadian partnership (January-December fiscal year) and can confirm what others have said. For your May-to-May partnership, you're absolutely correct to report the fiscal year that ENDS within your 2025 tax year (May 2024 to May 2025). The pre-printed "2025" on the form is indeed referring to YOUR tax year, not the partnership's beginning date. It's terrible form design that confuses everyone. Regarding the IRS refusing to answer questions - this is unfortunately common with international forms. They consider Form 8865 "specialty" and most phone representatives aren't trained on it. I've had success calling early in the morning (8 AM EST) and specifically asking to be transferred to the International Tax division, though it can take multiple attempts. One additional tip: make sure you're also checking if you need to file Form 8865 for multiple categories. Some people need to file as both Category 1 (10% owner) AND Category 2 (ownership change) in the same year, which requires separate forms with different reporting periods. The instructions don't make this clear at all. The Form 8825 question has been answered correctly by others - report the ENTIRE partnership's rental income, not just your distributive share. Your actual share flows through elsewhere on your return.
Thank you for the comprehensive explanation! The multiple category filing requirement is something I hadn't even considered - that's terrifying to think I might need separate forms. How do you determine if you fall into multiple categories? And do you have any tips for actually getting through to the International Tax division? I've tried calling several times but keep getting transferred around in circles. Also, has anyone found a reliable way to double-check if you're completing Form 8865 correctly before filing? I'm paranoid about making mistakes given all the penalty warnings in this thread!
This PATH act got me ready to throw hands with the IRS fr fr π
Filed 1/28 with TurboTax, EIC claimed, using Credit Karma for deposit. Transcript updated yesterday showing cycle code 20250310 but still no DDD. Anyone else seeing similar timeline? This wait is killing me but at least we're all suffering together π
Honorah King
I switched from TurboTax to TaxAct last year and honestly the $50 I saved went straight to buying pizza lol. Both got me the same refund amount. TurboTax is prettier but TaxAct works fine. Im never going back to paying turbotax prices again tbh.
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Norah Quay
I've been using TaxAct for the past 3 years after switching from TurboTax, and for what it's worth, I think you're overthinking this a bit. Both software options will calculate your taxes correctly - the IRS requirements are the same regardless of which platform you use. Given your situation (investment income, freelancing, property sale), either software can handle it. TaxAct's interface might feel a bit clunky at first if you're used to TurboTax's hand-holding, but you'll adapt quickly. The $10 savings plus getting actual audit representation (vs just guidance) seems like the smarter financial choice here. One practical tip: whichever you choose, make sure to import your investment documents electronically rather than typing them manually. Both platforms support this and it'll save you hours of data entry while reducing errors. That's probably more important for audit prevention than which audit protection plan you pick.
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