Thanks for the suggestion, but isn't the 83(b) election only available for restricted stock, not RSUs? From what I've read, it doesn't apply to standard RSUs because there's no actual ownership until vesting. But I'd love to be wrong about this if it could help with future grants!

You're absolutely right, and I apologize for the confusion. The 83(b) election typically doesn't apply to standard RSUs because, as you correctly noted, there's no actual ownership until vesting. It's more applicable for restricted stock awards (RSAs) where you have immediate ownership with restrictions. For standard RSUs, tax planning is more about timing your sales after vesting to manage capital gains. Some companies offer programs where they automatically sell enough shares at vesting to cover tax obligations, which might be worth looking into for future grants.

I had the opposite experience! TurboTax Premier handled my RSUs perfectly but H&R Block kept giving me errors. Maybe it depends on the specific company's reporting format?

Does this work with the free version of TurboTax or only the premium versions? And can you use this feature before you're actually ready to file?

You need TurboTax Premier or above for the investment features - the free version doesn't support capital gains calculations. And yes, you can absolutely use this feature any time during the year before you're ready to file. I typically start a new tax file at the beginning of each year just for planning purposes. The tax planning tools are available year-round, not just during tax season. You can run different scenarios like "what if I sell these stocks at a loss?" to see the impact on your tax situation. It's been super helpful for making strategic decisions throughout the year rather than just discovering surprises at tax time.

Not everyone can afford an accountant, especially if they're just casual investors. I tried getting a consultation with a CPA and they wanted $250/hour just to discuss my tax situation. These online tools seem way more cost effective for most people.

That's a great point! I completely forgot about my charitable donations last year. I gave about $2,200 to various organizations and I have all the receipts. Would that be worth including in my amendment too? Also, do I need to send in copies of my mortgage interest statement and donation receipts with the amendment?

Absolutely include those charitable donations in your amendment! $2,200 is definitely significant and will increase your refund further. Combined with your mortgage interest, you're well over the standard deduction threshold. You don't necessarily need to send in the documentation with your amendment, but you should absolutely keep all those receipts, donation acknowledgments, and your Form 1098 mortgage interest statement with your tax records. The IRS can request substantiation later, especially for amended returns which tend to be reviewed more carefully.

Yes, you actually can e-file Form 1040-X now! The IRS started allowing this in 2020. Most major tax software (TurboTax, H&R Block, TaxAct, etc.) supports e-filing amendments. It's wayyy faster than paper filing and you get confirmation that they received it.

Would this approach work in TurboTax too? I'm having almost the identical issue but with TT and a car my grandpa gave me that I donated to a local charity.

Yes, the approach works in TurboTax too. The key is the sequence of entering information. TurboTax tends to make assumptions if you immediately identify something as a gift. Enter the donation details first, then go back to modify the acquisition information. For TurboTax specifically, after entering the 1098-C information, look for the "Asset Information" section where you can edit the basis details. Enter what your grandfather originally paid for the car (estimate if needed) and when he purchased it originally. This establishes a proper basis instead of the $0 that TurboTax might default to.

That's not quite right. The basis absolutely matters with donated property, even vehicles. The deduction is limited to the LESSER of your basis or the gross proceeds reported on the 1098-C. So if your basis is $0 (which can happen with fully depreciated gifted property), your deduction would also be $0, even if the charity sold it for more.

I stand corrected! You're right about the "lesser of" rule. I checked Publication 526 and it does specify that for vehicle donations, your deduction is limited to the smaller of your basis or the gross proceeds from the charity's sale. This explains why the software is asking about the gift - it's trying to determine the basis. If the original owner had already fully depreciated the car (common for older vehicles), then the basis might indeed be $0, which would limit the deduction to $0 regardless of sale proceeds.

Thank you for mentioning this! I just checked the 1099-MISC more carefully and they actually did withhold some tax (about $405). So when I file the 1040-NR with Schedule NEC, do I just list that amount as already paid? Is there a specific line for this on the form?

Yes, you'll report the income on Schedule NEC, and then on Form 1040-NR, there's a line for "Federal income tax withheld" (typically line 25c or similar depending on the tax year). This is where you'll enter the $405 that was withheld. This is actually good news for two reasons: First, it shows the company properly classified you as a foreign person. Second, if you qualify for a lower tax rate under a treaty, you might get some of that withholding refunded back to you. Make sure you attach a copy of your 1099-MISC showing the withholding when you file your return. And remember that you'll likely need Form 8833 to claim any treaty benefits if you're eligible for a rate lower than 30%.

I tried TurboTax for my 1040-NR last year and it was a disaster. They don't really support all the international forms properly. I ended up using Sprintax which is specifically designed for nonresident returns. It handled Schedule NEC and treaty claims much better.