Congrats on getting your 846! That's such a relief after the long wait. From what I've seen in this community, once that code appears with a date, it's pretty locked in. The IRS has already processed and scheduled your refund at that point. I got my 846 last month and it hit my account exactly on the date shown. The waiting game is brutal but you're basically at the finish line now! 🎉

Congrats on finally getting your 846 code! 🎉 I totally understand the paranoia after such a long wait. From my experience and what I've seen here, once that 846 code appears with a specific date, it's pretty much locked in. The IRS has already processed your return and scheduled the refund - that 3/13 date should be solid! I got mine last year and it hit my account exactly when the transcript said it would. You're basically at the finish line now, so try to relax and enjoy knowing your refund is finally on its way!

This happened to me last month. I waited until my regular refund came through before paying what I owed on the amendment. Just make sure to pay before the tax deadline to avoid any penalties. The systems are completely separate.

Just want to add another perspective here - I went through this exact situation two years ago and made the mistake of panicking and paying the amendment amount immediately out of pocket. Turned out I didn't need to rush at all since I had filed before the deadline. The key thing to remember is that when you file Form 1040-X, you're not getting a separate bill - the form itself calculates what you owe. As long as you pay by the original tax deadline (April 15th in most cases), you won't face penalties. The IRS systems really are separate, so your original refund will process normally while your amendment goes through their much slower review process. My advice: wait for that $890 refund, set aside the $271 immediately when it arrives, and then pay the amendment amount. You'll save yourself the cash flow hassle and still be completely compliant with IRS requirements.

One important consideration that hasn't been mentioned yet is the time value remaining in your option. Since your option doesn't expire until February 15, you still have significant time value that you'd be giving up if you exercise now. With the stock at $43 and your strike at $20, your option has $23 of intrinsic value. But the option itself is likely worth more than $23 due to time value and potential for further upside. You might want to compare the current market price of your option to the $23 intrinsic value before deciding whether to exercise or sell the option outright. If you're primarily concerned about tax treatment and want to convert to stock ownership for long-term capital gains, exercising makes sense. But if you're looking to maximize your return, selling the option might be more profitable since you'd capture both intrinsic and time value. Also, exercising requires you to put up the $20 strike price per share, which ties up additional capital. Just something else to factor into your decision alongside the tax implications everyone has covered.

There's another factor worth considering that could impact your decision timing - the upcoming earnings season. If XYZ Corp has earnings coming up before your February expiration, that could create additional volatility that might work in your favor if you hold the option, or against you if the stock drops. You mentioned the current price is around $43, but earnings announcements can cause significant price swings. If you're leaning toward exercising, you might want to check their earnings calendar first. A positive earnings surprise could push the stock higher, increasing your intrinsic value, while a disappointment could erode some of your current gains. Also, since you're dealing with individual stock options rather than index options, you'll want to factor in any upcoming dividend payments. If XYZ pays dividends, the stock price typically drops by the dividend amount on the ex-dividend date, which would reduce your option's intrinsic value. Most brokers will provide this information in their options chain or company profile pages. These timing considerations, combined with the tax implications everyone else has discussed, should help you make a more informed decision about whether to exercise now, hold until closer to expiration, or sell the option outright.

Great question about medical mileage! I've been dealing with this exact situation for the past couple years with my chronic condition. A few additional tips that might help: 1. **Round trips count** - Don't forget to track your mileage back home from appointments. I initially only tracked one-way trips and was missing half my deductible miles. 2. **Multiple stops strategy** - If you have multiple medical appointments or need to pick up prescriptions on the same day, you can claim the entire trip as medical mileage as long as the primary purpose is medical care. 3. **Keep backup documentation** - Beyond your mileage log, I also keep appointment confirmation emails/texts and prescription receipts. This helps establish the medical purpose if ever questioned. 4. **Consider bundling trips** - If possible, try to schedule multiple appointments on the same day to maximize your mileage efficiency while still being able to claim the full round trip. With 1,200 miles at the current rate, you're looking at around $264 in deductible expenses just from mileage (assuming 22 cents per mile for 2024). Combined with your other medical expenses, you might be closer to that 7.5% threshold than you think!

One thing I haven't seen mentioned yet is that you can also deduct medical mileage for accompanying a dependent or spouse to their medical appointments. This was a game-changer for me when I was driving my elderly parent to multiple specialist visits each week. The rules are the same - you use the standard mileage rate and it all counts toward your total medical expenses subject to the 7.5% AGI threshold. You just need to document in your log that the trip was for someone else's medical care (like "Mom's cardiologist appt"). Also, if you're caring for someone with a chronic condition and need to attend medical education classes or caregiver training sessions recommended by their doctor, those miles count too! I was able to claim mileage for diabetes management classes and physical therapy training sessions that helped me better care for my spouse. Just make sure the person you're accompanying qualifies as your dependent for tax purposes, or is your spouse. The documentation requirements are the same - contemporaneous mileage logs with dates, destinations, and medical purpose clearly noted.

Great question! You're absolutely right to be careful about this. Since you're using the WeWork space exclusively for your 1099 freelance work and never for your W2 job, you can deduct the full $4,500 as a business expense on Schedule C. The key factors working in your favor are: 1. **Exclusive business use** - You only use WeWork for freelance work, never for your W2 employment 2. **Ordinary and necessary** - A dedicated workspace is clearly necessary for running a web development business 3. **Proper classification** - This falls under "rent or lease" expenses, not the problematic home office deduction rules Your W2 employment doesn't complicate this at all since you're keeping the activities completely separate. Just make sure to: - Keep all receipts and membership agreements - Document your business activities at WeWork (client meetings, project work, etc.) - Maybe snap a few photos of you working there on business projects The fact that it's a significant expense actually makes it MORE likely to pass scrutiny, since it shows you're serious about your business operations. This is exactly the type of legitimate business expense the tax code is designed to allow!

One thing I'd add to all the great advice here - make sure you understand the difference between deducting WeWork as a business expense versus trying to claim it as a home office deduction. Since you're renting workspace outside your home, this falls under regular business rent/lease expenses on Schedule C, which is much simpler than the home office rules. The home office deduction has all those complicated "exclusive use" tests and percentage calculations, but renting external workspace like WeWork is straightforward - if you use it for business, it's deductible. No need to prorate or calculate square footage like you would with a home office. Also, don't forget that your WeWork membership might include some perks (coffee, printing, conference room access) that you use for business - those are all part of the legitimate business expense too. Keep it simple, document your business use, and you should be good to go!