Any chance the 1099-Q amount is under $1,500? If so, you might be able to ignore it altogether on your taxes if it was indeed a rollover to another education account for the same beneficiary. The IRS usually only requires reporting if the amount is substantial or if there were earnings involved that aren't getting rolled over.

I went through this exact situation two years ago and can confirm you can absolutely file this manually! The key thing to understand is that a Coverdell to 529 rollover is generally non-taxable as long as it's done correctly (same beneficiary, direct transfer). You'll need to report the 1099-Q on your tax return, but you won't owe taxes on it. I reported mine on Schedule 1 (Additional Income) Line 8z as "Other Income" and wrote "ESA Rollover - Nontaxable" next to the amount. The most important thing is keeping good records - I kept copies of all the account statements showing the withdrawal from the Coverdell and the deposit into the 529, along with any rollover documentation from the financial institutions. This proves it was a qualified rollover if the IRS ever asks. Don't let TurboTax hold you hostage for $70! This is definitely something you can handle yourself with a little patience and the right forms.

Does anyone know if its better to max out HSA first or 401k? I have both W2 and 1099 income too and trying to figure out the optimal order.

Great question! I'm in a similar boat with mixed income sources. One thing I learned the hard way - make sure you calculate your net self-employment income correctly for that 20% employer contribution. Don't forget to subtract: 1. Half of your self-employment tax (roughly 7.65% of your net SE income) 2. The employer contribution itself (it's a circular calculation) So if you have $130k in 1099 income, after business deductions and the SE tax adjustment, your actual contribution base will be lower. The effective rate usually works out to about 18.6% rather than the full 20%. Also, since you mentioned backdoor Roth - consider whether a solo 401k with Roth options might be better than trying to do backdoor Roth IRA conversions, especially if your income puts you over the IRA contribution phase-out limits. The solo 401k gives you more flexibility and higher contribution limits.

I just went through this exact situation a few months ago with five different quarters needing corrections. You can definitely mail them all together - the IRS actually prefers it when they're from the same business because it keeps everything consolidated for processing. Here's what worked for me: I put each 941-X form in chronological order (earliest quarter first), attached all supporting documentation to each respective form with paper clips, and wrote "AMENDED RETURN - MULTIPLE QUARTERS" at the top of my cover letter. I also included a simple list showing which quarters were being corrected and the EIN for easy reference. One tip that really helped - make sure you're using the same mailing address for all forms. Don't mix addresses based on whether you owe money or expect refunds from different quarters. Pick one address based on your primary situation and stick with it for the entire package. The whole package took about 3.5 months to process, and I received individual notices for each quarter as they worked through them. Much easier than dealing with separate mailings!

Based on my experience as a small business owner who's filed multiple 941-X corrections, you're absolutely right to be careful about the submission process. You can definitely mail all four forms together in one envelope - there's no IRS requirement for separate mailings. Here's what I'd recommend: organize each 941-X with its supporting documentation using paper clips (not staples), arrange them in chronological order by quarter, and include a brief cover letter listing your business name, EIN, and which quarters are being corrected. Make sure you're consistent with the mailing address - use the address specified in the current 941-X instructions based on your state and whether you're including payments. And definitely send via certified mail with return receipt requested. The extra cost is worth the peace of mind knowing the IRS received your corrections. The processing time can vary, but expect 3-5 months before you hear back. You'll likely receive separate notices for each quarter as they work through them. Good luck with your corrections!

I've been dealing with a very similar situation and wanted to share what I learned after going through this process. Like you, I did a cash-out refi on my paid-off primary home and used the proceeds to purchase a second property that my college-age daughter uses while attending school. After extensive research and consultation with a tax professional, I can confirm that your mortgage interest should indeed be deductible. The key factors working in your favor are: 1) The loan proceeds were used to acquire a qualified residence, 2) The debt is secured by your primary home, 3) Your son's use as your dependent counts as personal use by you, and 4) Your regular visits establish it as your genuine second home. What really helped me was organizing all my documentation upfront - closing statements from both the refinance and the second home purchase showing the direct flow of funds, plus a simple calendar tracking my personal use of the property. The IRS wants to see that clear money trail and evidence of personal use. One important note: make sure your total qualified residence debt stays under the $750,000 limit. Since you paid off your primary before the refi, you're likely well under this threshold. Given that this deduction pushes you into itemizing, the tax savings could be substantial. Just make sure to keep detailed records and consider a consultation with a tax professional who specializes in real estate transactions for added peace of mind. The rules can be complex, but your situation appears to fit squarely within the allowable parameters.

I went through a similar situation last year and the confusion around Publication 936 is totally understandable - it's written in such dense tax language! Based on everything I researched and confirmed with my tax preparer, you should be able to deduct that mortgage interest. The key thing that works in your favor is that you used the cash-out refi proceeds specifically to purchase another residence, which keeps it classified as acquisition debt rather than home equity debt under the Tax Cuts and Jobs Act rules. Since the second property qualifies as your second home (your son living there as your dependent actually supports this, plus your personal use through visits), the interest should be fully deductible as long as you're under the $750,000 qualified residence debt limit. I'd definitely recommend keeping a simple log of your visits to the second property - just dates and brief notes like "family weekend" or "maintenance visit." This creates documentation showing consistent personal use if the IRS ever has questions. Also make sure you have clear records showing how the refinance proceeds went directly to purchasing the second home. Since this deduction would push you into itemizing and make a significant difference in your tax situation, it's probably worth a consultation with a tax professional who handles real estate transactions just to double-check everything. But based on your description, this seems like a straightforward case where the interest should be deductible.

As a newcomer to the tax preparation world, this entire thread has been absolutely invaluable! I'm currently preparing to submit my EFIN application and was feeling pretty overwhelmed by the process until I found this discussion. The practical advice here is incredible - from the documentation consistency tips to the tools like taxr.ai and Claimyr, to the timing strategies about applying in fall rather than peak season. I had no idea about any of these things before reading through everyone's experiences. What really strikes me is how supportive this community is. Everyone is sharing their real experiences, both frustrations and successes, which gives those of us just starting out a much clearer picture of what to expect. The timeline breakdowns and status explanations are particularly helpful since the IRS website itself doesn't give much detail about what each stage actually means. I'm definitely going to implement the organized documentation folder approach and double-check all my information for consistency before submitting. Thanks to everyone who has shared their knowledge - it's making what seemed like an impossible process feel much more manageable for someone new to the industry!

As someone who's been lurking in this community while preparing for my first EFIN application, I have to say this thread is like finding gold! I'm completely new to the tax preparation industry and was honestly pretty intimidated by the whole EFIN process until reading through everyone's experiences here. The timeline breakdowns are super helpful - especially knowing that "Awaiting Verification" is actually a good sign and typically takes 10-21 days. I was imagining it could be stuck there for months! And the tip about address consistency across all documents is something I never would have thought to check carefully. I'm planning to submit my application next week, and I'm definitely going to use the organized documentation folder approach mentioned here. The tools like taxr.ai and Claimyr sound really useful too - it's reassuring to know there are ways to get actual information and help during the waiting process instead of just sitting in the dark. Thanks to everyone for being so generous with sharing your real experiences, both the frustrating parts and the success stories. It makes this whole process feel much less scary for those of us just starting out in tax preparation!