Random but important - don't forget that if you're issuing 1099s, the deadline is January 31st to both send them to recipients AND file with the IRS. They changed this a few years back, and it's no longer like the old days where you had extra time to file with the government. Also, if you miss the deadline or file incorrectly, the penalties can be pretty steep - starting at $50 per form if you're less than 30 days late, and going up from there. With a $74k commission, the IRS will definitely expect to see that 1099 filed.

Quick tip - if you're filing just one or a few 1099-NECs, the IRS actually has a free online filing portal called the FIRE system (Filing Information Returns Electronically). You don't need fancy software if you only have a few to do. You'll need to register for an account first, which takes a little time to set up, but once you have it, filing is pretty straightforward. For real estate commissions specifically, I've done this several times without issues.

Has anyone tried just submitting the original W2 with the right SSN manually written in? I did this once years ago and the IRS accepted it. Just crossed out the wrong SSN and wrote in the correct one, then included a note explaining. Saved me from the whole W2C nightmare.

If all else fails, you can also file Form 4852 (Substitute for Form W-2) along with your amended return. This form lets you report your wage and withholding information when you can't get a correct W-2 from your employer. You'll need to provide as much supporting documentation as possible (paystubs, etc.) to verify the amounts. It's not ideal, but it's an option if Stanford continues to be difficult.

You should check if both programs are including the same business income in the QBID calculation. I had a similar issue and discovered TurboTax was missing some 1099-NEC income in the QBID calculation but including it in my total income. Make sure all your Schedule C businesses are being included properly in both software. Also, did you indicate different business types between the two software? That can affect the QBID calculation too.

Has anyone done a side-by-side accuracy comparison between TurboTax and TaxAct? I've been using TurboTax for years but the price keeps going up and I'm thinking of switching.

My stepdad was in a similar situation and he just decided to liquidate everything without checking the basis issues first. Ended up owing way more in taxes than expected because there was no step-up and he had to use the original basis from like 40 years ago. Don't make that mistake! Get a proper analysis before you sell anything. Either use one of the services mentioned above or talk to a CPA who specializes in trust taxation. The rules around irrevocable grantor trusts are really specific and depend on how the trust was structured.

Another option to consider if the stocks have declined in value and you're concerned about taxes - you could distribute the stocks to the trust beneficiaries first, then they could sell them individually. Depending on the beneficiaries' tax situations, this might provide better overall tax treatment, especially if any of them are in lower tax brackets. But this would depend entirely on the terms of the trust and whether distributions of stock (rather than cash) are permitted. Worth discussing with your trust attorney if that's an option.

The revenue sharing aspect is the most interesting part of this proposal to me. I've worked in economic development for a manufacturing state, and we've always struggled with the fact that we produce goods but the tax revenue goes to the states where consumers live. 20% seems like a reasonable starting point, though I imagine high-consumption states with no sales tax (like NH) or minimal manufacturing (like FL) would strongly resist. The real challenge would be creating the administrative framework for this revenue sharing. This system could actually reduce some of the tax incentive battles between states trying to lure manufacturers. If production states automatically get a revenue share, there's less pressure to offer massive tax breaks.

Has anyone else noticed that the South Dakota v. Wayfair decision has completely changed the compliance landscape for small businesses? Before 2018, I only had to worry about collecting tax in my home state. Now I'm tracking economic nexus thresholds across 45+ states. If this hybrid system adds another layer to track (origin-based calculations), it could push more sellers to marketplace platforms like Amazon who handle tax compliance. That would actually strengthen the role of marketplace facilitators, which aligns with part of the proposal.