This is a really complex situation that requires careful documentation. Since you're splitting time between states, I'd strongly recommend keeping detailed records of where you spend each night throughout the year - many states use the 183-day rule to determine residency. One thing to consider is that since your wife lives full-time in the house she bought, you might have a stronger case for claiming that state as your domicile if you can establish other ties there (voter registration, driver's license, etc.). However, don't overlook the potential audit risk - states are increasingly aggressive about pursuing residents who they think are trying to avoid higher taxes. Given the capital gains exclusion opportunity on your sold house that Andre mentioned, plus the complexity of multi-state residency rules, this might be worth consulting with a tax professional who specializes in multi-state issues. The cost of professional advice could save you thousands in taxes and help you avoid potential audit problems down the road.

For documenting your days in each state, I'd recommend keeping a simple calendar or spreadsheet with dates, locations, and brief notes about why you were there (work, personal, etc.). Some people even take photos with location data as backup evidence. Tax authorities generally accept any reasonable documentation that shows where you were physically present. As for audit red flags, states typically look for: claiming residency in a no-tax or low-tax state while spending most time in a high-tax state; having a mailing address in one state but conducting most business in another; voting in one state but claiming residency in another; or patterns that suggest you're "gaming" the system for tax benefits. The key is consistency - make sure your driver's license, voter registration, bank accounts, and tax filings all align with where you claim to be domiciled. Mixed signals across these areas are what usually trigger closer scrutiny. In your situation with the capital gains exclusion potential, getting this right could save you significant money, so professional guidance is definitely worth considering.

I'm in almost the exact same boat - just ran my numbers and owe around $8,200 that I definitely don't have sitting around. Reading through all these responses has been super helpful, especially the clarification about filing first then setting up the payment plan. One question I haven't seen addressed - if I file my return showing I owe this amount, does that immediately trigger any kind of collections process? Or do I have some grace period to get the payment plan set up before they start sending scary letters? Also, has anyone here actually used the online payment agreement tool on the IRS website? I'm wondering if that's reliable or if I should plan on calling (or using one of those services mentioned above to help get through).

Just want to echo what others have said about filing first, then setting up the payment plan - that's definitely the right order. I went through this same situation a few years ago and can confirm the process works exactly as described. One additional tip that helped me: when you do set up your payment plan (whether online or by phone), try to time your monthly payments to align with when you get paid. The IRS is pretty flexible about the payment date within the month, and having it sync with your paycheck makes budgeting much easier. Also, don't beat yourself up about owing taxes - it happens to more people than you'd think, especially if you're self-employed or had changes in income. The IRS payment plan system exists specifically because they know not everyone can pay large amounts immediately. You're being responsible by addressing it proactively rather than ignoring it. Good luck with everything!

This has been such an educational thread! As someone completely new to property management arrangements, I've learned so much from everyone's real-world experiences. One thing I'm curious about that I haven't seen mentioned - how do you handle the situation if you need to travel or take time off? Are you expected to find your own coverage for tenant emergencies, or does the property owner typically have backup arrangements? I imagine being tied to the property 24/7 could really limit your flexibility. Also, I'm wondering about the long-term career implications. For those who've done this type of work, did you find it helped you move into property management as a career, or is it more of a short-term financial arrangement? The skills you'd develop seem like they could be valuable in the real estate industry. The tax complexity definitely seems manageable with proper planning and documentation, especially with all the specific advice shared here. Thanks to everyone who took the time to share their experiences - this thread should be bookmarked by anyone considering a similar arrangement!

Wow, this thread has been incredibly comprehensive! As someone who's considering a similar apartment management arrangement, I can't thank everyone enough for sharing such detailed real-world experiences. One aspect I haven't seen discussed yet is how this type of arrangement might affect your rental history or credit if you decide to move elsewhere later. Would future landlords view the below-market rent as a red flag, or would the management experience actually be seen as a positive? I'm wondering if there are any best practices for documenting this arrangement in a way that looks professional on rental applications. Also, has anyone dealt with situations where the property owner wanted to modify the terms mid-contract? I'm curious about how much leverage you have as a tenant-manager if they try to increase your responsibilities or reduce compensation after you've already settled into the role. The tax guidance here has been absolutely invaluable - especially the clarification about being able to use Schedule C for business expenses while still taking the standard deduction. That completely changes my calculation of whether this would be financially beneficial! Really appreciate this community's willingness to share such practical, detailed advice. This thread should definitely be a reference for anyone considering property management arrangements!

I've been following this thread closely as I'm dealing with a nearly identical situation with my father's estate from 2022. Reading all these responses has been incredibly reassuring - it's clear that using county tax assessments is not only acceptable but quite common for establishing FMV on inherited property. What strikes me most about your situation is how reasonable your numbers are. A $235K assessment in 2021 and $243K sale in 2024 represents only about 3.4% total appreciation over three years, which is actually quite conservative given the real estate market during that period. This conservative progression actually strengthens your position because it demonstrates the assessment was realistic, not artificially deflated. I'd recommend following the documentation approach several people mentioned: gather your county assessment, look up a few comparable sales from 2021 (even basic Zillow data helps), and write a brief explanation of why you believe the assessment represents fair market value. Check if your county publishes their assessment methodology or ratio - this official documentation can be very helpful. The key insight from all these responses is that the IRS wants to see good faith effort to determine accurate value, not perfection. Your situation has all the hallmarks of a straightforward, defensible valuation that should process smoothly. The fact that three siblings will be reporting consistently also eliminates any red flags about family members using different methodologies. Don't overthink this - your documentation sounds solid and your numbers pass every reasonableness test!

I've been dealing with inherited property taxes for years as an enrolled agent, and I can confirm that your approach using the county assessment is absolutely sound. The IRS specifically recognizes tax assessments as one of several acceptable methods for establishing FMV at date of death. What's particularly strong about your case is the close correlation between your 2021 assessment ($235K) and 2024 sale price ($243K). That 3.4% total appreciation over three years actually demonstrates the assessment was quite accurate - many counties struggle to keep assessments that close to market reality. A few practical tips: Document everything in a simple folder (assessment notice, any county methodology info, maybe 2-3 comparable sales from 2021 if easily available online). The IRS audit manual actually mentions they look favorably on taxpayers who clearly attempted reasonable valuation methods. Your conservative numbers and straightforward documentation should easily pass any review. One thing many people don't realize - the IRS is much more concerned with cases where assessments are dramatically below sale prices, suggesting possible undervaluation. Your situation shows the opposite pattern, which actually strengthens your position.

I'm in a very similar situation and this thread has been incredibly helpful! Filed my return 16 days ago and it's still showing "Return Received" status. I also had a mid-year job change (switched companies in May) and am claiming the American Opportunity Tax Credit for my college expenses. Before reading all these responses, I was convinced something was wrong with my filing. The explanation about "accepted" vs "approved" status is eye-opening - I had no idea that acceptance just meant passing basic format checks rather than actual processing. That makes the delay make so much more sense. It's reassuring to hear from the accountant that 4-5 weeks during peak season is completely normal, especially with factors like job changes and education credits that might trigger additional verification. The consistent 18-21 day timeline that most people are sharing gives me hope that mine should update soon. I've definitely been guilty of checking the Where's My Refund tool multiple times daily, but based on everyone's advice here, I'm going to try limiting myself to checking every few days. The waiting is stressful when you're counting on that refund, but it sounds like we just need to trust the process. Thanks to everyone for sharing their experiences - it really helps knowing we're all navigating this same anxious waiting period together!

I'm going through this exact same situation right now! Filed my return 10 days ago through TurboTax and it's been stuck at "Return Received" status the whole time. Like many others here, I also had a job change last year (started a new position in August) and was getting really worried that something was wrong. This thread has been incredibly reassuring to read! I had no idea there was such a big difference between "accepted" and "approved" status - learning that acceptance just means the format checks passed really helps explain the delay. It makes total sense that job changes and withholding adjustments could trigger additional verification. Hearing from everyone about the 18-21 day timeline being normal during peak season gives me so much peace of mind. I've definitely been guilty of checking the Where's My Refund tool every single day, but I'm going to follow the advice here and limit myself to checking every few days instead. Thanks to everyone for sharing their experiences - it's so comforting to know we're all going through this same anxious waiting period together! Sounds like we just need to be patient and trust that the IRS is working through the backlog.