Anyone know if the same 60-day rule applies when moving from a 401k to a Roth IRA? My company's being acquired and I need to figure out what to do with my retirement account ASAP.

I went through a very similar situation last year with my Roth IRA rollover between Schwab and TD Ameritrade. The timing was off by about a week, and I was panicking about the tax implications. After consulting with a tax professional, I learned that what you've described should qualify as a valid rollover. The key factors working in your favor are: 1) You're only moving original contributions, not earnings, 2) Both transactions occurred within the 60-day window, and 3) The amounts match up. The IRS doesn't require the exact same physical dollars to move - they recognize that money is fungible. What matters is the timing and amounts. Since you initiated the process properly and completed it within 60 days, you should be able to report this as a rollover rather than a distribution. However, you'll want to be very careful with your tax reporting. Make sure you have documentation showing both the distribution date from Vanguard and the contribution date to Fidelity. If there's any question during tax review, having a clear paper trail will support your position that this was an intended rollover, not separate transactions. Given that you've already filed, you might want to wait and see if you receive any notices from the IRS before filing an amended return. Sometimes these situations resolve themselves without additional action needed.

Another tip that helped me as a new contractor - don't forget about self-employment tax! This caught me off guard my first year. As a 1099 contractor, you're responsible for both the employee AND employer portions of Social Security and Medicare taxes (15.3% total on your net earnings). When you're calculating how much to set aside for quarterly payments, make sure you're accounting for both income tax AND self-employment tax. I made the mistake of only calculating income tax my first quarter and came up short. A good rule of thumb is to set aside 25-30% of your contractor income depending on your tax bracket, but definitely run the actual calculations or use one of the tools mentioned above to get a more precise number. Also, keep detailed records of all your business expenses throughout the year - office supplies, equipment, mileage, home office expenses if you qualify, etc. These deductions can significantly reduce your tax liability and make those quarterly payments more manageable.

As someone who made the transition from W-2 to 1099 about two years ago, I completely understand your confusion! The quarterly payment system definitely feels overwhelming at first. Here's what I wish I had known: while technically you're supposed to make quarterly payments if you'll owe over $1,000, the IRS does offer some flexibility through safe harbor provisions. If you pay at least 100% of last year's total tax (110% if your AGI was over $150K), you can avoid underpayment penalties even if you owe more when you file. That said, I'd strongly recommend getting into the quarterly payment habit now rather than waiting. It's not just about avoiding penalties - it's about cash flow management. Setting aside 25-30% of each payment immediately and making quarterly payments prevents that scary "oh no, I owe $15K and spent all my money" moment in April. One practical tip: I use a separate business checking account and automatically transfer my estimated tax amount there every time I get paid. Then when quarterly payments are due, the money is already sitting there waiting. Makes it much less painful than trying to come up with a large lump sum. The learning curve is steep, but once you get a system down, it becomes second nature. Good luck with your first year of contracting!

I went through a nearly identical situation with Robinhood's options wash sale reporting last year, and I can tell you that your $5,000 in disallowed losses aren't permanently lost - they're just deferred through cost basis adjustments. The PYPL situation showing $0.00 profit/loss is definitely a system glitch I've seen before. What likely happened is you sold PYPL options at a loss and then bought PYPL stock (or different PYPL options) within 30 days, triggering the wash sale rule. Robinhood's system often can't properly display these complex calculations, hence the zero showing. Here's what I'd recommend based on what worked for me: 1. Download your complete transaction history CSV and create a chronological timeline of ALL trades (not just options) for every security showing wash sales. Look for any stock purchases within 30 days before or after your options losses. 2. To recover those deferred losses, you'll need to sell ALL your positions in those securities (both stock and options) and stay completely out for 30+ days. Only then do the wash sale periods end and those losses become claimable. 3. For dealing with Robinhood support, be specific: "I need to review incorrect wash sale calculations on my 1099-B with your tax reporting department." This usually gets you past the script-readers to someone who understands options taxation. 4. Consider using different but correlated securities during wash sale periods going forward - like trading SPY options when you have QQQ losses, or using sector ETFs instead of individual stocks. The whole situation is frustrating, but the money isn't gone forever - it's just temporarily locked up in cost basis adjustments until you make clean breaks from those positions.

I've been dealing with a very similar wash sale mess with Robinhood this year, and I wanted to share a few insights that might help clarify your situation. First, the $0.00 showing for your PYPL options is almost certainly a display bug in their system - I've seen this exact issue before when wash sale adjustments can't be properly calculated or shown. The underlying problem is likely that you traded between PYPL options and PYPL stock within the 30-day window without realizing it would trigger the wash sale rule. Here's what I learned after going through this nightmare: your $5,000 in disallowed wash sale losses aren't lost forever, they're just deferred. The tricky part is that to recover them, you need to completely exit ALL positions in those securities (both options AND stock) and then stay out for 30+ days. Only then do those deferred losses become realized losses you can claim. One thing that really helped me understand what went wrong was downloading my complete transaction history and mapping out every single trade chronologically - not just the flagged ones, but ALL transactions in securities showing wash sales. Look for any stock purchases within 30 days before or after your options losses. I bet you'll find that's what triggered most of your wash sales. For getting actual help from Robinhood, try this specific language: "I need to review incorrect wash sale calculations on my 1099-B with your tax reporting department." That usually gets you past the script-reading support reps to someone who actually understands options taxation. Going forward, consider using different but correlated securities during wash sale periods - like trading SPY options when you have losses in individual stock options. Much easier than trying to track all these complex timing rules!

As a newcomer to this community, I have to say this thread has been incredibly eye-opening! I've been doing my own taxes for years but never realized how many nuances exist around disability dependents. Reading through everyone's experiences, I'm struck by how the IRS operates on a "trust but verify" basis - they'll process your return initially but may circle back later for documentation. It's reassuring to see that multiple people have successfully navigated this process, even when it involved some back-and-forth with verification requests. What I find most valuable about this discussion is the practical timeline information people have shared. Knowing that verification requests might come 3+ months after filing, and that the documentation review process can take 6-9 weeks, really helps set realistic expectations. I don't have this exact situation myself, but I have an aging parent with some health issues, and this conversation has me wondering if there might be similar dependency opportunities I've been overlooking. The emphasis everyone has placed on keeping organized documentation seems like good advice for any complex tax situation. Thank you all for creating such a thorough and supportive discussion - this is exactly the kind of real-world guidance that's so hard to find in official tax publications!

As a newcomer to this community, I'm amazed by the wealth of practical knowledge shared here! This thread has been incredibly informative for someone like me who's still learning to navigate complex tax situations. What really stands out to me is how everyone emphasizes the importance of being prepared rather than being proactive - keeping documentation ready without submitting it upfront seems to be the winning strategy. The real-world timelines people have shared (3+ months for potential verification requests, 6-9 weeks for processing) are so much more helpful than the vague guidance you typically find in official publications. I'm particularly grateful for the clarification about Social Security benefits not counting toward the gross income limit - that's the kind of crucial detail that could make or break someone's eligibility decision. And the consistent message about digital documentation organization seems like solid advice for anyone dealing with complex tax situations, not just disability dependents. While I don't currently have this specific situation, reading through everyone's experiences has made me much more aware of potential tax opportunities I might be missing. This community really demonstrates how shared knowledge and real experiences can demystify complicated tax scenarios. Thank you all for creating such a supportive and educational environment!

I can totally relate to this confusion! When I first started checking my transcripts, I was convinced there had to be multiple codes to track because the whole system seemed so complicated. But yes, 846 is your golden ticket - it's the "Refund Issued" code and means your refund is officially on its way. I've been through this process several times now and the 846 date has been spot-on accurate for me. Just wanted to add one thing that might help: if you're checking your transcript obsessively (like I definitely do!), it usually updates overnight on Fridays, so that's when you're most likely to see new codes appear. Since you mentioned needing this for quarterly estimated taxes, you might want to consider making a partial payment before the deadline just in case there are any unexpected delays. The IRS is pretty forgiving if you overpay and need a credit for the next quarter. Good luck - hope you see that 846 code soon!

This thread has been incredibly helpful! As someone who's completely new to reading tax transcripts, I was getting overwhelmed trying to understand all the different codes. It's such a relief to know that 846 is the main one to focus on and that it's generally reliable for timing. I've been checking my transcript daily (probably obsessively!) but haven't seen any updates yet. The tip about transcripts updating on Fridays is game-changing - I'll stop checking every single day now! I'm also in a similar situation with needing my refund for quarterly estimated taxes, so all the advice about building in buffer time and considering partial payments is really valuable. It's amazing how much clearer this all becomes when experienced people break it down. Thanks everyone for making this less intimidating for those of us still learning the ropes!