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Just checked my transcripts and they're like a puzzle with all the pieces finally showing up. Like a garden that's starting to bloom, the IRS is working on my return at last! I'm not completely fluent in transcript-speak, but my cycle date shows 2024/03/04 and next to it says 3/05/24. I knew I had a balance due situation (like having to pay back a small loan), but interestingly it shows $0.00 next to it with a date of 3/04/2024. I'm taking this as a good sign - like seeing the first green shoots after planting seeds. I'm single with no dependents, pretty straightforward return. I did owe some, but after adjustments, I'm still expecting a refund. Seems like a positive development, so you all might want to check your transcripts too if you've been waiting. I originally filed around Feb 14th, so it's been about a month of waiting. Anyone else seeing movement?
Filed my taxes on 3/12, got accepted on 3/14, and my DDD was supposed to be 4/28/25. But I just got an email from H&R Block about an hour ago and checked my account - the refund already hit! They did take their fees out first, I think that covers everything. I use Current bank btw.
OP - was this your first time using Current bank for tax refund? Wondering if its worth switching from my traditional bank if I'd get my refund faster next year.
Nice! I'm jealous - filed around the same time as you but still stuck waiting. The combination of H&R Block taking their fees out first and Current releasing funds early sounds like it worked out perfectly for you. Did you get any notification from the IRS about the early release or did you just find out when H&R Block emailed you? I'm trying to figure out if I should expect mine early too or if I'm stuck waiting until my official DDD.
So I figured out something that might help others who are dealing with K-1 forms from publicly traded partnerships (MLPs) that have both business income (line 1) and rental real estate (line 2) when importing TXF files into tax software. When I tried importing my PTP's TXF file into TurboTax Desktop, I immediately got this annoying error message: "Box 2 has an amount but does not agree with type of activity indicated. You may want to include this amount on another Kโ1 Worksheet where you match it up with the type of activity." After some trial and error, I found a workaround: create TWO separate K-1 worksheets - one for the business part and another for just the rental real estate portion. Here's my process that seems to work: 1. Download the original TXF file from your partnership (I used taxpackagesupport.com - look for the three vertical dots and choose "Import to TurboTax" option) 2. Import this file into TurboTax first. This should handle all your carry-forwards if the names match from last year. You'll see that error for line 2 - go ahead and blank out line 2 completely (putting zero doesn't work). 3. Here's the trick: make a copy of the original TXF file and give it a distinctive name (like adding "_RRE" for Rental Real Estate to the end) 4. Choose a slightly different partnership name for this second file. This is crucial if you want losses to carry forward correctly next year. Has anyone else run into this issue? Any other solutions? I'm specifically using TurboTax Desktop but wonder if other software has the same problem.
Is there any way to edit the TXF file directly instead of doing this workaround? I'm comfortable with text editing if that would be easier than creating two separate K-1s in the software.
You actually can edit the TXF file directly if you're comfortable with text editing! I tried this approach too. TXF files are basically formatted text files, and you can open them with Notepad or any text editor. Look for the sections related to your K-1, and you'll see entries for each box. You can create a duplicate of the partnership entry with a slightly different name, then remove line 2 from the original and remove everything except line 2 from the copy. It's a bit technical but doable if you're careful.
This is exactly the kind of detailed walkthrough I wish I had when I first encountered this issue! I've been dealing with similar TXF import problems with my Kinder Morgan K-1 for the past two years and have been manually entering everything instead of using the import feature. One question about step 4 in your process - when you mention using a "slightly different partnership name" for the rental real estate portion, does this affect how the software handles carryover losses from previous years? I'm worried about breaking the connection to my prior year data if I change the name too much. Also, have you noticed any issues when you go to file electronically? I'm always paranoid that having what appears to be "two different partnerships" might trigger some kind of validation error with the IRS systems, even though it's really just one K-1 split across two schedules. Thanks for sharing this solution - it's going to save me hours of manual data entry this tax season!
I just checked my transcript for my 2024 tax return and I'm concerned about what I'm seeing. I requested it on 02-06-2025 and got the response the same day, but everything is showing up blank with $0.00 balances across the board. Here's what my account transcript shows: ``` Internal Revenue Service United States Department of the Treasury This Product Contains Sensitive Taxpayer Data Request Date: 02-06-2025 Response Date: 02-06-2025 Tracking Number Account Transcript FORM NUMBER: 1040 TAX PERIOD: Dec. 31, 2024 TAXPAYER IDENTIFICATION NUMBER: XXX ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT --- ACCOUNT BALANCE: $0.00 ACCRUED INTEREST: $0.00 AS OF: Feb. 24, 2025 ACCRUED PENALTY: $0.00 AS OF: Feb. 24, 2025 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): $0.00 .. INFORMATION FROM THE RETURN OR AS ADJUSTED .. EXEMPTIONS: 00 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: TAXABLE INCOME: TAX PER RETURN: SE TAXABLE INCOME TAXPAYER: SE TAXABLE INCOME SPOUSE: TOTAL SELF EMPLOYMENT TAX: RETURN NOT PRESENT FOR THIS ACCOUNT TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT No tax return filed This Product Contains Sensitive Taxpayer Data ``` As you can see, my filing status is Head of Household, but all the important fields are completely empty - no Adjusted Gross Income, no Taxable Income, no Tax Per Return, nothing for Self Employment Tax. At the bottom it says "RETURN NOT PRESENT FOR THIS ACCOUNT" and under transactions it shows "No tax return filed." This is really weird because I couldn't even access my transcript yesterday at all, but now today at 7:13 I can see it but everything's blank. It's not even showing as accepted yet even though I filed weeks ago. The system has clearly processed something because it knows my filing status is Head of Household, but nothing else seems to be there. Has anyone experienced this before or know what it means? I'm getting worried since this is my tax transcript we're talking about. Should I be concerned that it says "RETURN NOT PRESENT FOR THIS ACCOUNT" even though I definitely filed? Is this just a delay in the IRS systems or something more serious I need to address?
The best thing you can do is try taxr.ai - it's literally a game changer for understanding these transcripts. I was in the same boat, totally confused, but their AI broke everything down and even predicted my refund date perfectly. It's only $1 and WAY better than guessing or waiting for the WMR to update.
This is totally normal for early February! Your transcript is showing exactly what it should during the initial processing phase. The fact that your filing status is populated as Head of Household means the IRS has received your return and created the account record, but they haven't started the actual line-by-line processing yet. The "RETURN NOT PRESENT" message is just their standard wording during this stage - it doesn't mean your return is lost or missing. All those empty fields (AGI, taxable income, etc.) will populate once they begin processing, usually within the next few days. I've seen this same pattern every year - the transcript shows up first with just basic info, then gradually fills in as processing moves through their system. You should see it switch to "accepted" status soon, and then all your financial details will appear. Just keep checking every few days!
I just wasted $89 on the Turbotax live help feature and I'm beyond frustrated. My wife and I are filing jointly - nothing fancy, no business income - but I had a few situations this year that I thought their "experts" could help with. Big mistake. I spoke with THREE different so-called tax experts who couldn't give straight answers to any of my questions. They just rambled in circles and when I finally pinned them down for actual answers, each one contradicted the others! I honestly would've gotten better advice from a random internet search. Here's what I was dealing with: 1. Our homebuilder had to delay our closing by 3 months, forcing us to extend our apartment lease. The builder sent us a $4,000 check to cover those extra months of rent. I simply wanted to know if this payment was taxable income. After endless rambling, I finally got them to answer - two said "yes report it" and one said "no don't report it." Super helpful, right? I ended up reporting it to be safe. 2. I over-contributed to my 401k this year (went over the limit by about $800) because I switched employers and my second company's system didn't catch it. My 401k provider sent me a refund check for the excess. I just needed to know how to handle this in Turbotax. None of them knew! I eventually found the answer buried in some Turbotax forum post. 3. I received a 1099-R for the first time because I rolled over my old 401k to my new employer's plan. Simple question: is this rollover taxable? They were completely clueless - one actually started reading the definition of a 1099-R from Google while I waited! I've used Turbotax for 8 years and the software itself is fine, but their "expert" help option is a complete ripoff. Save your money and just use the regular version or even try ChatGPT for basic tax questions - you'll get better answers than from these so-called professionals.
Has anyone tried using H&R Block instead? I'm contemplating switching from TurboTax after similar frustrating experiences with their "experts.
I switched to H&R Block online last year after 5 years with TurboTax. Their interface is slightly less polished but I found their help resources more accurate. The big difference was when I called their support line - I got someone who actually knew what they were talking about and gave me a clear answer about how to handle a 1099-MISC for a one-time consulting gig.
This is exactly why I've been telling people to avoid TurboTax Live for the past two years. I had a nearly identical experience when I needed help with a backdoor Roth conversion - three different "experts" gave me three completely different answers about how to report it. What really frustrated me was that these weren't even complex tax situations. These are basic scenarios that any legitimate tax professional should be able to handle easily. The fact that they couldn't give consistent answers on whether a reimbursement check is taxable income is honestly embarrassing for a service that charges $89. For anyone dealing with similar situations in the future, I'd recommend just using the IRS's own interactive tax assistant tool on their website. It's free and at least gives you consistent answers based on actual tax code rather than whatever random seasonal employee happens to pick up your call. The software itself is still decent, but their "expert" help is absolutely not worth the money. You're better off posting questions in tax forums like this one where actual professionals like Connor can give you reliable guidance.
QuantumQuest
I think I might be in a similar situation to yours... I had a small balance due but should still be getting something back. My transcript updated last week with almost the same pattern, and I'm cautiously optimistic that my refund might be coming soon. For me, it's going to help with some unexpected car repairs I've been putting off. Just hoping nothing else comes up to delay it further.
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Melina Haruko
That's such great news that your transcript is finally showing movement! I totally relate to the transcript confusion - those codes and dates feel like they're written in a foreign language sometimes. From what I've learned lurking in these forums, when you see that $0.00 balance with your cycle date, it usually means they've finished calculating everything and any amount you owed has been subtracted from your refund. The fact that you're still expecting money back after owing some is actually pretty common - happens when your withholdings or credits exceed what you actually owe. I filed around the same time as you (mid-February) and have been obsessively checking my transcript too. Still waiting for any updates on mine, so seeing your progress gives me hope! Fingers crossed you see that direct deposit hit your account soon. Thanks for sharing the update - it helps those of us still in limbo know that things are actually moving behind the scenes.
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