To all those having trouble reaching a human at IRS. I just ran across this video that gave me a shortcut to reach a human. Hope it helps! https://youtu.be/_kiP6q8DX5c

Tax topic 152 is completely normal and just indicates your return is being processed. I had the same code for about 3 weeks before my refund was approved. The key thing is to be patient - the IRS is still working through a backlog from previous years. If it's been more than 21 days since you filed, definitely check your account transcripts online to see if there are any specific codes that might indicate what's holding things up. Most of the time it's just a matter of waiting your turn in the queue. Keep checking WMR and your transcripts for updates!

One thing to consider is whether your company allows a "cashless exercise" option. With the spread between $8 and $200 being so large, you'd need $8,000 cash to exercise all options, plus potentially a large AMT bill. A cashless exercise would let you exercise and immediately sell enough shares to cover your costs, then keep the remaining shares. This is essentially a partial disqualifying disposition but can be a good middle ground if you don't have the cash on hand for a full exercise.

This is a complex situation that really highlights why ISO planning should ideally start early! Given your $90k capital loss carryover, you're right that it won't help with AMT on the ISO exercise, but there are still some strategic considerations. One approach worth exploring: if you're comfortable with some market risk, consider exercising just a portion of your options now (maybe 200-300 shares) and spreading the rest over the next year or two. This could help minimize the AMT hit while still capturing some gains. Also, timing matters for your capital loss usage. If you do a disqualifying disposition, you'll have $192k in ordinary income but can only use $3k of your losses against it this year. However, any capital gains you generate from other investments or future stock sales can be fully offset by your loss carryover. Given the volatility risk Isaac mentioned with newly public companies, I'd lean toward taking at least 50-70% of your gains off the table immediately after lockup expires. You've already won the lottery here - don't risk losing it all for tax optimization. Have you checked if your company offers any tax gross-up benefits or financial planning resources for employees dealing with stock options? Many tech companies provide these services specifically because ISO taxation is so complex.

Does anyone know if distributions from a BDIT count as earned income? Like, will I have to pay self-employment tax on it? I'm in the same boat with a trust my grandparents set up, and I'm wondering if I should be making quarterly estimated tax payments this year.

I'm dealing with a similar trust situation and found this thread super helpful! One thing I want to add is that if you're having trouble getting organized information from your trustee, you might want to request a copy of the trust's accounting records too. The trustee should be keeping detailed records of all income, expenses, and distributions. This can help you understand exactly what happened during the tax year and verify that the information on your K-1 is correct when you finally get it. Also, for anyone else in this situation - make sure you keep copies of all the trust-related documents you receive. I learned the hard way that you'll probably need to reference them again next year, and trustees aren't always the most organized about keeping beneficiaries informed throughout the year. The tax implications of these trusts can be really complex, but don't let that scare you away from understanding the basics. Even if you end up using a professional, having some knowledge of how your trust works will help you ask better questions and catch any potential errors.

Be careful about amending unless you're absolutely certain something is wrong. I was in this situation, got impatient, and filed an amendment thinking it would speed things up. It actually reset my 120-day clock AND put me in a different processing queue that took even longer. If the IRS agent didn't specifically tell you what to fix, don't amend. Just wait it out or call again to get more specific information about why you were selected.

I'm currently going through this same process - got the 570/971 codes about 3 weeks ago and was told the same thing about random verification. What's frustrating is that the IRS website just says "processing" with no real timeline. I've been checking my transcript weekly and nothing has changed. Has anyone here actually received their refund after one of these reviews? I'm curious if the July timeline is accurate or if people are getting theirs sooner. Also wondering if there's any pattern to what triggers the "random" selection - I claimed EITC and CTC this year, which seems to be common among people getting selected based on what I'm reading here. The waiting is the hardest part when you're counting on that money for bills and expenses!

Has anyone used both TurboTax and FreeTaxUSA for delivery gig work? I'm trying to decide which one to use this year and wondering which handles the deductions better.

This is super helpful for understanding how multiple income sources work together! I'm in a similar situation with my Instacart gig plus a regular part-time job. One thing I learned the hard way is to keep really detailed records throughout the year - I wish I had tracked my mileage better from the start. For anyone doing delivery work, I'd recommend downloading a mileage tracking app like MileIQ or Everlance. They automatically track your drives and categorize them as business or personal. Way easier than trying to reconstruct everything at tax time! Also keep receipts for things like phone accessories, insulated bags, or car maintenance that's directly related to your delivery work. The quarterly payment advice is spot on too. I got hit with an underpayment penalty last year because I didn't realize I needed to make estimated payments. Setting aside that 25-30% in a separate account really does make tax season so much less stressful.