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Filed mine about 10 days ago and doing the exact same thing - checking constantly throughout the day like it's going to magically update! Really appreciate everyone sharing their experiences here. The overnight update schedule makes total sense, no wonder I've been seeing the same status message every time I check during work hours. Going to try the email alert suggestion too since I clearly can't trust myself to stop checking manually š
Haha same here! I'm new to filing NYS taxes and had no idea there was actually a system to when they update. Been checking like 5 times a day thinking something would change š¤¦āāļø Definitely signing up for those email alerts - way better than being glued to the website. Thanks everyone for sharing your timelines, makes me feel less crazy about the wait!
Been there! Filed mine 2 weeks ago and was literally refreshing every few hours like a maniac š The overnight update thing is a game changer - wish they made that more obvious on their website. Also learned the hard way that weekends don't count toward processing time, so if you filed on a Friday don't expect anything until Tuesday at the earliest. The email alerts are clutch too, saves you from going insane checking manually!
As someone who just went through this exact same struggle last month, I completely understand your frustration! I spent way too much time searching for a form that doesn't exist as a standalone document. Just to echo what others have said - you'll need to create your own "Statement A-QBI" following the requirements outlined in the Form 8995 or 8995-A instructions. I ended up making a simple table in a Word document with columns for business name, EIN, QBI amount, W-2 wages, and qualified property basis for each of my pass-through entities. One thing that really helped me was looking at the specific line-by-line instructions for Form 8995-A (even if you end up using 8995) because it breaks down exactly what information the IRS expects to see in your supporting statement. The key is being thorough and clearly organized so everything is easy to follow if they ever review your return. Good luck with your manual filing - it's definitely doable once you understand what you're actually looking for!
Thank you so much for the clear explanation, Summer! This is exactly what I needed to hear. I've been pulling my hair out trying to find this "form" on the IRS website for days. It's honestly a bit frustrating that they reference Statement A-QBI in the instructions without making it clear that it's something taxpayers need to create themselves. Your suggestion about looking at the Form 8995-A instructions even if using 8995 is really smart - I hadn't thought of that approach. I'm definitely going to create a Word table similar to what you described. It sounds like the key is just being organized and including all the required elements clearly. I really appreciate everyone in this community taking the time to share their experiences. As a newcomer here, it's reassuring to know there are people willing to help others navigate these confusing tax situations!
I completely understand the confusion - I went through this exact same frustration when I first encountered QBI requirements for my small business. The terminology is really misleading since "Statement A-QBI" sounds like it should be an official form with a number. What helped me was realizing that the IRS basically wants you to create a supporting schedule that breaks down your QBI information clearly. I use a simple format with my name and SSN at the top, then "Statement A-QBI - Qualified Business Income Supporting Statement" as the title, followed by a table showing each business. For anyone still working on this, don't overthink the format - as long as you include all the required information (business name, EIN, your ownership percentage, QBI amount, W-2 wages, and qualified property basis) in a clear, organized way, you'll be fine. The IRS cares more about having complete information than fancy formatting. Also, make sure to keep copies of all your source documents that support the numbers on your statement. If you ever get questioned, you'll want to be able to show where each figure came from. Good luck with your filing!
This is such helpful advice, especially about keeping source documents! As someone new to dealing with QBI, I hadn't really thought about the audit trail aspect. Your point about the IRS caring more about complete information than fancy formatting is reassuring - I was getting caught up in trying to make it look "official" when really it just needs to be clear and accurate. I'm curious though - when you mention including ownership percentage, is that necessary even for single-member LLCs where I own 100%? And do you happen to know if there are any specific requirements for how to handle multiple rental properties that qualify for QBI? I have three different rental properties and I'm not sure if I should list them as separate lines or if there's a way to group them together. Thanks for sharing your experience - it's really helpful to hear from someone who's been through this process before!
Has anyone used TurboTax to report RSUs with blackout periods? I'm trying to figure out how to input this correctly to avoid IRS issues.
I use TurboTax every year for my RSUs. The process is actually pretty straightforward since your company should report the RSU income on your W-2. In TurboTax, you'll just need to enter your stock sale info from your 1099-B, and make sure to adjust the cost basis if it's not correctly reported (which happens a lot with RSUs).
I've been dealing with RSUs and blackout periods for about 3 years now, and it definitely gets confusing! Just to add to what others have said - the vesting date is indeed your acquisition date for tax purposes, but here's something that tripped me up initially: make sure you're getting the correct cost basis on your 1099-B forms. My brokerage (also Fidelity) sometimes reports the cost basis as $0 for RSU sales, which would make it look like the entire sale amount is taxable gain. But since you already paid income tax on the FMV at vesting, you need to adjust this. Your actual cost basis should be the fair market value on the vest date that was reported on your W-2. For the wash sale concern - yes, be very careful if you have quarterly vesting. I made the mistake of selling some underwater RSUs in November and then had new ones vest in December of the same stock. Had to deal with wash sale adjustments that were a real headache. Now I time any sales to avoid the 30-day window around vesting dates. One tip: keep really good records of your vest dates and the stock price on those dates. You'll need this info for years to come, especially if you hold shares long-term.
This is really helpful, especially the part about the 1099-B cost basis being reported as $0! I just checked my forms from last year and sure enough, that's exactly what happened. I had no idea I needed to adjust this - I probably overpaid on my taxes. Is there a way to amend my return to correct this, or should I just make sure to get it right going forward? Also, when you say "time sales to avoid the 30-day window around vesting dates" - do you mean avoid selling 30 days before AND after each quarterly vest? That seems like it would severely limit when I can actually sell anything given how frequent the vesting is.
I'm going through the exact same situation right now! Just got my W-2 with the $5k in Box 10 and was totally confused about what to do next. Reading through all these responses has been super helpful - I had no idea I still needed to fill out Form 2441 even though my employer already reported the DCFSA contribution. The explanation about how the W-2 and Form 2441 work together (not as duplicate reporting but as complementary parts) really cleared things up for me. I'm definitely going to request that annual summary statement from my daycare that someone mentioned. I've been dreading having to organize all my individual receipts, so that sounds like a much better approach. One quick follow-up question - if my actual childcare expenses were exactly $5,000 (the same as my DCFSA contribution), does that mean I won't be eligible for any additional Child and Dependent Care Credit? Or should I still check to see if I qualify based on my income level?
Great question! If your actual qualifying childcare expenses were exactly $5,000 (the same as your DCFSA contribution), then unfortunately you wouldn't be eligible for any additional Child and Dependent Care Credit. Here's why: the credit can only be claimed on qualifying expenses that exceed what you received tax-free through your DCFSA. So in your case: $5,000 qualifying expenses minus $5,000 DCFSA benefit = $0 remaining expenses eligible for the credit. However, you should still complete Form 2441 because it's required when you have a DCFSA - it's how you report to the IRS that your expenses matched your FSA contributions and that all the FSA money should remain tax-free. The form essentially shows that you used the DCFSA properly. The good news is that getting exactly $5,000 in qualifying expenses means you maximized your tax-free benefit through the DCFSA, which is often more valuable than the credit anyway since it reduces both your federal income tax AND your payroll taxes. You're in a perfectly compliant situation - just need to document it properly on Form 2441!
I just want to echo what others have said about Form 2441 being required even with the W-2 reporting - I made the mistake of thinking the Box 10 amount was sufficient my first year with a DCFSA and got a letter from the IRS asking for the missing form. One thing I haven't seen mentioned yet is to double-check that your care provider's tax ID number is correct BEFORE you file. I had a situation where my daycare accidentally gave me their state registration number instead of their federal EIN, and it caused a delay in processing my return. The IRS had to send correspondence asking for the correct information. Also, for anyone worried about the complexity - Form 2441 is actually pretty straightforward once you have all your provider information organized. The form walks you through each step, and most tax software makes it even easier by asking simple questions rather than requiring you to interpret the form directly. The peace of mind of knowing everything is properly documented and compliant with IRS requirements is definitely worth the extra paperwork!
This is such an important point about verifying the tax ID number before filing! I'm planning to use my DCFSA for the first time this year and hadn't thought about the potential for providers to give incorrect information. Your experience with getting a state registration number instead of the federal EIN is exactly the kind of mistake I would probably make without knowing to double-check. Do you recommend asking the daycare specifically for their "federal EIN" rather than just "tax ID" to avoid this confusion? Also, thanks for the reassurance about Form 2441 being straightforward with tax software. I've been putting off starting my taxes because I was intimidated by having to deal with the DCFSA reporting, but it sounds like it's more manageable than I was expecting once you have all the information gathered properly.
Liam Brown
I just went through this exact process last month! I verified my identity through ID.me on January 28th and received my refund on February 18th - so exactly 21 days. Here's what helped me during the waiting period: 1. Set up your IRS online account to check transcripts - this gives you much more detailed info than WMR 2. Don't check WMR daily (easier said than done, I know!) - it rarely updates until the very end 3. Look for transcript codes 570/971 about a week after verification - this means they're processing it 4. Code 846 with a date means your refund is officially scheduled The hardest part is just the waiting and uncertainty. Since you verified last week, you're right on track for the typical 2-3 week timeframe. Try to resist the urge to constantly refresh WMR - I drove myself crazy doing that! Your refund is coming, it just takes time for their system to work through everything after verification.
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Amina Bah
ā¢This is super helpful, thank you for the detailed timeline! I'm at day 8 since my ID.me verification and already checking WMR way too often. I really need to set up that IRS online account to check my transcript - seems like everyone who's been through this process recommends it. Quick question: when you got the 846 code, how many days before the actual deposit date did it show up on your transcript? Trying to manage my expectations for when I might actually see the money hit my account once I get that code.
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CosmicVoyager
I went through identity verification through ID.me about 6 months ago, and it took exactly 19 days to get my refund. Here's what I learned from the experience: The key is understanding that identity verification is just one checkpoint - your return still goes through all the normal processing steps afterward. After verification, expect to see codes 570 and 971 on your transcript within about a week (these are normal and not a cause for concern). A few things that helped me stay sane during the wait: - Check your transcript weekly, not daily - WMR rarely updates until the very end, so don't rely on it - If you claimed EITC or additional child tax credit, add extra time due to PATH Act requirements - The 846 code on your transcript with a date is your golden ticket - that's when you know your refund is officially scheduled Since you just verified last week, you're still very early in the process. Most people I know who verified this tax season have gotten their refunds between 14-28 days. Try to be patient - I know it's tough when you're waiting for money you're owed, but the system does work, it just takes time after verification.
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