has anyone else noticed that the wash sale rules are being applied weirdly to GBTC on their 1099-B? etrade is showing some of my transactions as wash sales even tho i havent bought any GBTC within 30 days of selling???

I'm dealing with similar GBTC reporting issues on my E-Trade 1099-B! What's really frustrating is that some of my transactions show completely different basis amounts than what I actually paid, and others are missing basis information entirely. I've been keeping detailed records in a spreadsheet since I started investing in crypto-related assets, so I know exactly what I paid for each purchase. But seeing these discrepancies on the official 1099-B form is making me second-guess everything. Has anyone had success contacting E-Trade directly about these reporting errors? I'm wondering if they can issue corrected forms or if I just need to override everything manually when filing. The last thing I want is to overpay on taxes because of their incomplete reporting, but I also don't want to do anything that might cause issues with the IRS later. Thanks for starting this thread - it's reassuring to know I'm not the only one dealing with this mess!

One thing to consider - if your partnership has unamortized organizational costs or start-up expenses that haven't been fully deducted yet, the final year is when you get to write off any remaining amounts. Make sure you don't miss this deduction on your final return! Also, don't forget to file Form 8308 if you had any sales or exchanges of partnership interests during the final year leading up to dissolution. That's another form that's easily overlooked in the dissolution process.

Great discussion everyone! I wanted to add a few practical tips from my experience handling partnership dissolutions: 1. **Documentation is key** - Keep detailed records of all final distributions and asset transfers. The IRS may ask for supporting documentation even years later. 2. **Partner capital account reconciliation** - Make sure each partner's Schedule K-1 capital account analysis (Part III) properly shows how their account went from the beginning balance to zero through final distributions and allocations. 3. **State filing considerations** - Don't forget that most states also require a final partnership return, and some have different requirements than the federal return for what constitutes a "final" filing. 4. **EIN closure** - After filing your final 1065, remember to officially close the partnership's EIN with the IRS by sending a letter stating the partnership has been dissolved and the final return filed. The zero balance requirement on Schedule L for final returns is definitely correct - it's one of those things that seems counterintuitive but makes perfect sense when you think about what "final" actually means from a tax perspective.

Has anyone used TurboTax for reporting treasury bond income? I'm wondering if it correctly handles the distinction between discount interest and actual capital gains if you sell early. I've got about 15 different treasury securities and I'm trying to avoid paying my accountant $300/hr to figure this all out.

One important thing to consider that hasn't been mentioned yet is the state tax implications. Treasury bond interest is exempt from state and local taxes, which can be a significant advantage depending on where you live. So while you'll pay federal income tax on the interest (including the discount amount at maturity for zero-coupon bonds), you won't owe state taxes on that same income. This makes treasuries particularly attractive if you're in a high-tax state like California or New York. Just make sure when you're doing your state tax return that you properly exclude the treasury interest from your state taxable income. Most tax software handles this automatically, but it's worth double-checking since the savings can be substantial.

10 One thing nobody's mentioned yet - look into an ABLE account for your son if you don't already have one. It's similar to a 529 plan but specifically for people with disabilities that began before age 26. The money grows tax-free and withdrawals aren't taxed when used for qualified disability expenses. The big advantage is that funds in an ABLE account (up to $100,000) don't count against the $2,000 asset limit for SSI eligibility. So you can save for your son's future needs without jeopardizing his benefits. Some states even offer tax deductions for contributions to their state's ABLE plan.

2 Make sure you're tracking ALL possible medical expenses for your son. With severe autism requiring 24/7 care, you likely have more deductible expenses than you realize. Things that count that people often miss: - Mileage driving to therapy/doctor appointments (medical mileage rate) - Special foods required for medical reasons (if prescribed) - Sensory equipment - Home modifications for safety - Specialized therapy not covered by insurance - Conference registration/materials related to your son's medical condition Just remember you need to itemize deductions to claim medical expenses, and only the portion that exceeds 7.5% of your AGI is deductible. But with significant medical needs, you might clear that threshold easily.

Has anyone tried just using business checking accounts with debit cards instead? After messing around with payment apps last year, I finally opened a separate business checking account this year and it's made everything SO much easier for tracking expenses. My bank even categorizes transactions automatically which helps with organizing deductions.

This is such a common mistake for new business owners - you're definitely not alone! I went through the exact same panic when I started my consulting business and realized I'd been mixing personal payment apps with business expenses. The key thing to remember is that the IRS doesn't care what payment method you used - they care about whether the expenses were legitimate business costs. Since you have invoices and contracts for the bigger jobs, you're already in good shape. For the smaller verbal agreements with friends, I'd recommend creating simple documentation now listing the work performed, dates, and amounts paid. Even a basic spreadsheet with this info will help if you ever get questioned. One thing that really helped me was setting up a separate business checking account for this year going forward. It makes tracking so much cleaner and you won't have to worry about mixing personal and business transactions. You can still use payment apps if needed, but transfer the money from your business account first to maintain that separation. Don't stress too much about this - with proper documentation, you'll be fine claiming these as legitimate business expenses!