I tracked my transcript updates obsessively last year and noticed these patterns: • Main weekly updates: Thursday night/Friday morning (around 3-6am Eastern) • Secondary updates: Sometimes Tuesday morning for certain accounts • Account transcript updates first, then return transcript • WMR tool often lags 1-2 days behind transcript changes • The "N/A" for current year transcripts is totally normal early in processing Wow, I never realized how complex the IRS systems were until I went through this! My transcript went from nothing to fully processed in a single update.

Thanks for all the detailed information everyone! As someone who's been dealing with IRS transcripts for several years now, I can confirm that the Thursday night/Friday morning update schedule is pretty reliable. One thing I'd add is that if you're checking transcripts online, make sure you're looking at the right year - sometimes the dropdown defaults to the previous year and you might think nothing's updated when it actually has. Also, don't panic if your transcript shows codes like 150 or 806 - these are normal processing codes. The 150 code means your return was received and the 806 code indicates a refund freeze, which often gets released automatically within a few days. I've found that patience really is key with the IRS system - it's slow but generally reliable once you understand the timing patterns.

The IRS has been extra slow this year. I got that same TurboTax email in March, but it took 12 days for the money to actually hit my account. My sister filed around the same time and got hers in 3 days. There's no rhyme or reason to it honestly.

I've been through this exact situation multiple times. The TurboTax email usually means the IRS has accepted your return and approved the refund, but there are still several steps before it hits your account. With direct deposit, you're typically looking at 5-7 business days from that email notification. However, I'd strongly recommend checking your IRS transcript online rather than relying on the WMR tool - it's much more accurate and will show you if there are any holds or issues. You can create an account on IRS.gov to access it. The transcript will have specific codes that tell you exactly where your refund stands in the process. If everything looks clean on your transcript, you should see the money within a week for direct deposit.

I'm going through something very similar right now and wanted to share what I've learned so far. Like you, I didn't keep receipts for major renovations we did between 2014-2016, and I'm now facing capital gains on a recent sale. One approach that's been helpful is creating a comprehensive timeline document. I went through old emails, text messages, and even social media posts to establish when work was done. You'd be surprised how many renovation photos people post on Facebook or Instagram with timestamps. For estimating costs, I've been reaching out to contractors in my area who were working during those years. Several have been willing to provide written estimates of what similar work would have cost back then, especially when I can show them photos of the completed work. Also, don't overlook seemingly small documentation - even receipts for paint, fixtures, or tools can help establish that renovation work was happening during specific time periods. While a $50 paint receipt won't make a huge difference in your basis, it helps corroborate the timeline of larger undocumented expenses. The key seems to be building multiple pieces of supporting evidence rather than trying to find one perfect document. From what I've learned, the IRS is more likely to accept reasonable estimates when they're supported by a clear pattern of evidence showing the work actually happened. Good luck with this - it's stressful but definitely not hopeless!

I'm in a very similar boat and wanted to add another potential source of documentation that helped me - old emails! When I went through my email archives, I found tons of useful stuff I'd completely forgotten about: correspondence with contractors setting up estimates and work schedules, emails to my insurance company about updating coverage after renovations, and even emails to friends and family complaining about the dust and noise during construction (which helped establish timelines). One particularly helpful find was an email thread with my mortgage company from 2013 when we had to get approval for some of the structural work we were doing. The emails included details about the scope of work and even some cost estimates. Also, if you used any project management apps or even basic note-taking apps on your phone during the renovations, those might have timestamps and details. I found some old notes in my phone from measuring rooms and planning layouts that were dated. Another thought - did you or your sister post any "renovation progress" content on social media? Instagram, Facebook, even LinkedIn posts about home projects could provide dated visual evidence of the work being done. The key really seems to be casting a wide net and looking everywhere for any documentation, no matter how small. Every little piece helps build the overall picture that the improvements actually happened when you say they did.

The confusion you're experiencing with Schedule D and AMT calculations is totally normal - this is one of the most complex areas of tax law! What's happening is that your tax software is required to run parallel calculations for both regular tax and Alternative Minimum Tax, even if you ultimately don't owe AMT. Since you mentioned you only have capital gains to report, the software is still checking whether any AMT adjustments apply. Form 6251 (the AMT form) gets calculated automatically in the background, which is why you're seeing references to it even though you didn't explicitly encounter it last year. The "mystery numbers" you're seeing likely come from AMT preference items or adjustments that affect how your capital gains are calculated under the AMT system versus regular tax. Even seemingly straightforward transactions can have different treatment under AMT rules. My recommendation: don't panic about the numbers you can't trace. FreeTaxUSA is generally reliable for these calculations. However, if you want peace of mind, you could always double-check by reviewing the actual Form 6251 that's being generated (usually available in the "Forms" section of your software) or consider getting a second opinion from a tax professional for this complex area.

I've been through this exact same confusion with Schedule D and AMT calculations! What really helped me understand what was happening was realizing that the AMT system essentially creates a "shadow" tax calculation that runs alongside your regular tax return. Your tax software is doing something called "computational compliance" - it has to calculate AMT for everyone who meets certain criteria, even if you ultimately don't owe it. The confusing numbers you're seeing are likely AMT adjustments and preferences that get applied automatically based on your income type and filing status. For Schedule D specifically, even though capital gains rates are often the same under both systems, there can still be differences in how certain basis adjustments or timing items are handled. The software pulls data from various parts of your return to populate the AMT worksheet, which is why some numbers seem to appear from nowhere. One thing that gave me peace of mind was learning that FreeTaxUSA (and most major tax software) has been handling these AMT calculations for years - they're actually quite good at it because the rules are well-established, even if they're not transparent to us as users. The fact that you're seeing these calculations is actually a good sign that the software is being thorough rather than cutting corners.

This thread has been incredibly educational! I'm in a very similar situation - have about $160K in various index funds and ETFs that I've been considering how to eventually pass to my two kids (ages 24 and 29). Reading through all these responses, I'm now leaning heavily toward the TOD route rather than joint ownership. The gift tax reporting requirement alone seems like a headache I'd rather avoid, not to mention all the other complications people have mentioned about creditor exposure and loss of control. One question I haven't seen addressed - for those who went with TOD designations, did your brokerage firm charge any fees for setting it up? And is there any ongoing maintenance or paperwork required, or is it basically "set it and forget it" once you've designated your beneficiaries? Also curious if anyone has experience with how TOD works across multiple brokerage accounts - I have investments spread across Vanguard, Fidelity, and Schwab. Can you set up consistent TOD designations across all of them, or does each firm handle it differently? Thanks again to everyone for sharing their knowledge and experiences - this is exactly the kind of practical advice that's impossible to find anywhere else!

Reading through all these detailed responses has been incredibly helpful! I'm actually a tax preparer who works with clients on these exact situations regularly, and I wanted to add a few practical points that might help clarify some of the confusion I'm seeing. First, @Genevieve Cavalier, yes - adding your children as joint owners would absolutely trigger gift tax reporting requirements since you're exceeding the annual exclusion amounts. But as others mentioned, you likely won't owe actual taxes unless you've exhausted your lifetime exemption. One thing I haven't seen mentioned is the potential state-level implications. Some states have their own gift tax rules or lower lifetime exemption amounts that could affect your planning. Also, if you do go the joint ownership route, make sure your brokerage understands exactly what type you want - the default "joint tenants with rights of survivorship" is usually what people intend, but it's worth confirming. The TOD suggestions are spot-on for most situations. It's clean, avoids the immediate gift tax filing, preserves the step-up in basis for your kids, and keeps you in full control. The only downside is it doesn't provide any protection if you become incapacitated - your kids can't access the funds to help with your care like they could with joint ownership. For an account this size, it's definitely worth spending a few hundred dollars to consult with both a tax professional and estate planning attorney to make sure you're considering all angles before making changes.