I'm currently going through this same process and it's been 8 days since I got the ID.me notification. Reading through everyone's experiences here is really helpful - sounds like I should expect the letter sometime in the next week or so. One thing I'm curious about: does the letter come from ID.me directly or from the IRS? The notification in my account wasn't totally clear about who would be sending it. Also, for those who completed the verification over the phone, did you call the number on the letter itself or the main IRS line? Want to make sure I'm prepared when my letter arrives!

I just went through this process last month and wanted to share my timeline to help others plan. Got the ID.me notification on January 28th, letter arrived February 12th (15 calendar days), and completed verification the same day I received it. One tip I wish I'd known: the letter envelope says "Department of Treasury - Internal Revenue Service" on it, so don't accidentally throw it away thinking it's junk mail! The control number was clearly printed in a box at the top of the letter. I used the phone number provided on the letter itself (not the general IRS line) and got through to an agent in about 20 minutes who walked me through the verification. My ID.me account was fully restored within a few hours. The waiting period is definitely nerve-wracking, but the actual verification process once you have the letter is pretty straightforward. Hang in there!

Something else to consider - many orthodontists offer a discount if you pay the full amount upfront rather than using a payment plan. When I got braces for my kid, the discount was almost 8%. You might want to run the numbers to see if it's worth paying more upfront (possibly using your credit card) to get the discount, especially if you think you'll qualify for the tax deduction this year. Just be careful about credit card interest rates - sometimes the discount isn't worth it if you'll be paying high interest on the card balance for months. I ended up doing a 0% intro APR card specifically for this expense.

Yes, Invisalign absolutely counts the same as traditional braces for tax purposes! The IRS doesn't distinguish between different types of orthodontic treatment - as long as it's medically necessary orthodontic care prescribed by a dental professional, it qualifies as a deductible medical expense. I actually went through this exact situation with my daughter's Invisalign treatment last year. The key is that it needs to be for correcting a dental condition, not just cosmetic improvement (though most orthodontic work falls into the medical necessity category anyway). One tip - make sure your orthodontist's treatment plan clearly documents the medical necessity. While audits for medical expenses aren't super common, having good documentation that shows the treatment was recommended for bite correction, jaw alignment, or other health-related issues (not just aesthetics) is important if you ever need to justify the deduction. The payment timing rules everyone mentioned above apply the same way too - whether you pay upfront, use a payment plan, or charge it all on a credit card.

For US-Australia tax treaty resources, I'd recommend starting with IRS Publication 597 (Information on the United States-Canada Income Tax Treaty) as a reference point, then look at the actual US-Australia tax treaty text on the IRS website under "Tax Treaties." The Australian Taxation Office also has guidance on their website about US tax obligations for Australian residents. A few practical tips as you get started: **Documentation to keep**: Australian tax returns, payment summaries, bank statements, and any records of taxes paid to Australia. You'll need these for Foreign Tax Credit calculations. **Timing**: US tax year runs January-December, while Australian tax year is July-June. This can create some complexity in matching up income and tax payments between the two systems. **Professional help**: Even if you use software or AI tools, consider getting professional advice for your first filing to establish the correct approach. Many expat tax specialists offer consultations to review your specific situation. **FBAR reminder**: Don't forget that if your Australian accounts (including savings, super, investment accounts) total more than $10,000 USD at any point during the year, you need to file FinCEN Form 114 separately from your tax return. The most important thing is not to let perfect be the enemy of good - start with basic compliance and refine your approach over time. You're asking the right questions at the right age!

As someone who went through this exact situation, I can't stress enough how important it is to get proper guidance early! I'm a dual Australian-US citizen who waited until I was 25 to sort out my US tax obligations, and I really wish I had started at 18 like you're doing. The main thing to understand is that while the compliance requirements might seem overwhelming, the actual tax burden is usually minimal or zero thanks to the Foreign Tax Credit and Foreign Earned Income Exclusion. Australia's tax rates are generally higher than US rates, so you'll typically get full credit for taxes paid here. Here's my practical advice: - Start filing US returns even if you don't owe anything - it establishes your compliance history - Keep detailed records of ALL Australian tax documents and payments - Don't forget about FBAR if your Australian accounts exceed $10,000 USD - Consider using the Streamlined Filing Compliance Procedures if you haven't been filing The peace of mind from being compliant is worth the annual hassle. Plus, having both passports has been incredibly valuable for travel, work opportunities, and just keeping your options open. I've worked in both countries and the flexibility has been amazing. Your parents mean well, but renouncing is irreversible and unnecessary for most people in our situation. The annual filing becomes routine once you establish the process!

I went through this exact situation with my grandmother's estate last year. The margin debt definitely goes on Schedule K as others have mentioned, but I wanted to add a few practical tips that helped me: 1. Request a "date of death valuation" letter from the brokerage - they'll provide exact balances for both the securities and the margin loan as of the death date, which is required for the 706. 2. Make sure to include ALL margin-related costs in your Schedule K entry - not just the principal balance, but also any accrued interest, margin fees, or other charges that were outstanding as of the date of death. 3. Cross-reference the margin debt on Schedule K with the securities on Schedule G by noting in the description that the debt is "secured by securities reported on Schedule G, Line X" - this helps the IRS understand the connection. The whole process was much more straightforward once I got the proper documentation from the brokerage. Don't try to calculate the exact balances yourself - let them do it officially.

Just wanted to add one more important detail that I learned the hard way - when reporting the margin debt on Schedule K, make sure you understand whether any of the loan proceeds were used for purposes other than purchasing the securities in the account. If your father used any portion of the margin loan to pay for other expenses (like living expenses, taxes, or purchases outside the investment account), the IRS may disallow the deduction for that portion under IRC Section 2053. The debt has to be a legitimate claim against the estate AND the proceeds must have been used for the decedent's benefit or estate purposes. Most brokerages can provide a transaction history showing exactly what the margin proceeds were used for if you request it. This documentation can be crucial if the IRS questions the deduction later. I had to go back and get this after my initial filing because the examiner wanted to see proof that the loan proceeds stayed within the investment account. Better to get all the documentation upfront than deal with an examination later!

Out of curiosity, what type of business did you start that requires $820k in startup costs? That's a pretty significant investment. I'm wondering what industry you're in.

That's exciting, Grace! Custom automotive parts manufacturing is a great niche. Given your equipment-heavy startup, you'll definitely want to maximize Section 179 and bonus depreciation on those CNC machines and other manufacturing equipment. One thing to consider is the timing of when you place the equipment "in service" - you can only claim the deduction in the tax year the equipment is actually put to use in your business, not just when you purchase it. So if some equipment arrives late in the year but won't be operational until next year, the deduction timing might shift. Also, don't forget about state-level incentives. Many states offer additional tax credits or accelerated depreciation for manufacturing equipment, especially if you're creating jobs. California has some programs, and other manufacturing-friendly states might have even better incentives if you're considering your location. With $305k coming out of your pocket, make sure you're tracking every dollar carefully. Even small expenses like permits, insurance setup, utility deposits, and professional fees can add up and be properly categorized for maximum tax benefit.