That's amazing news about finally getting your 846 code! I totally understand the relief you must be feeling after dealing with an amended return and refund freeze for so long. From what I've seen in this community, paper checks typically take 5-7 business days to arrive after the 846 date appears on your transcript. Since yours is dated 01-07-2025, you should hopefully see it by this Friday or early next week. The sequence of codes you have looks really good - that 811 "refund freeze removed" on 12-21 followed by the 846 on 01-07 shows everything is finally processing properly through the system. And getting interest with that 776 code is a nice bonus after all the waiting you've been through! I'd definitely recommend signing up for USPS Informed Delivery if you haven't already - you'll get an email each morning with photos of your incoming mail so you'll know exactly when that check is on its way to your mailbox. Fingers crossed it arrives soon! 🤞

Congrats on finally getting that 846 code! What a relief after all you've been through with the amended return and refund freeze. Based on what I've seen here, paper checks typically arrive 5-7 business days after the 846 date. Since yours shows 01-07-2025, you should hopefully see it by this Friday or early next week. That progression from 811 "refund freeze removed" on 12-21 to 846 on 01-07 is exactly what you want to see - everything's finally moving! And getting interest with that 776 code is awesome after all the delays. Definitely set up USPS Informed Delivery if you haven't already so you can track when it's actually coming to your mailbox. Keep us posted! 🤞

Another option nobody mentioned is to reach out to your local Congressional representative's office. I had a similar issue last year that I couldn't resolve after months of trying, and my Congressman's office has staff specifically for helping constituents with federal agency issues. They contacted the IRS on my behalf and got everything resolved within 2 weeks. Their offices deal with the IRS all the time.

I work as a tax preparer and deal with IRS phone issues regularly. Here's a pro tip that works about 70% of the time: call the IRS business line at 1-800-829-4933 instead of the individual taxpayer line. Even though you're calling about a personal tax issue, they often have shorter wait times and can transfer you to the right department once you explain your situation. Also, when you do get through (whether using one of the services mentioned or calling directly), make sure you have your Social Security number, the exact amount of the payment, the date you made it, and your confirmation number ready. The agent will need all of this to locate and transfer your payment. Write down the representative's ID number and get a confirmation number for the transfer - this will save you if you need to call back for any reason. One more thing - if your payment was made within the last 90 days, they can usually fix it with a simple account adjustment. If it was longer ago, it might require additional paperwork, so timing matters here.

Has anyone using TurboTax had issues with how it calculates NIIT when you have capital loss carryforwards? Mine seemed to handle it strangely last year and I'm wondering if I need to switch to a different software.

I've been dealing with a similar situation and wanted to share what I learned from my tax preparer. One thing that might help is understanding that Form 8960 (the NIIT form) has its own separate calculation for net investment income that doesn't mirror your Schedule D exactly. The key insight for me was realizing that while your capital loss carryforward reduces your net capital gain to zero for NIIT purposes (which is great), you still need to be careful about other investment income like dividends, interest, or rental income that might push you over the NIIT threshold. Also, make sure you're considering the modified adjusted gross income (MAGI) thresholds - $200K for single filers, $250K for married filing jointly. Even if your net investment income is low due to the loss carryforwards, you might still owe NIIT if your overall income exceeds these thresholds. Have you calculated whether you'll be above the MAGI threshold this year? That's really the first step in determining if NIIT will even apply to your situation.

I've been through the Form 6781 maze myself and wanted to add a few practical tips that might help you with your SPX/SPY options situation. First, make sure you're keeping detailed records of when you opened and closed each leg of your straddles. The IRS requires you to identify which positions form each straddle, and you'll need the exact dates and amounts for Form 6781. I use a simple spreadsheet to track this. For your SPX options specifically, remember that they're marked-to-market at year-end even if you haven't closed them, so you'll need to report any unrealized gains/losses on positions you're still holding. This is different from your SPY options which are only reported when you actually close them. One thing that caught me off guard my first year: if you have any straddle positions still open at year-end, you need to calculate the "unrecognized gain" for Part III of Form 6781. This is basically the paper profit on the winning leg of any straddle where you took a loss on the other leg. Also, since you mentioned using TurboTax, make sure you're using the Premier version - the basic version doesn't handle Form 6781 properly. Even then, you might need to manually override some of the calculations if you have complex mixed straddle situations.

Great discussion everyone! As someone who's been dealing with options straddles for a few years, I wanted to add a couple of additional considerations that might help @Daniel Price and others in similar situations. One thing I learned the hard way is to be very careful about the "substantially identical" rules when you have straddles. If you close one leg of a straddle at a loss and then open a similar position within 30 days, you could trigger both wash sale rules AND straddle loss deferral rules simultaneously. This creates a complex interaction that can defer your losses even longer than you might expect. Also, since you mentioned you started in March, make sure you're applying the straddle rules consistently throughout the year. The IRS expects you to identify straddle positions when you establish them, not retroactively at tax time. While you can sometimes make elections after the fact, it's much cleaner if you have documentation showing when positions were intended to be straddles. For your $14,200 in profits, depending on how much of that came from straddle positions versus outright directional trades, you might find that some of those gains need to be adjusted based on previously deferred losses from the offsetting legs of your straddles. This is where keeping detailed records of which trades were part of straddles becomes crucial. The tools mentioned like taxr.ai sound helpful for automating this process, but make sure whatever method you use properly handles the timeline of when straddles were established versus closed.

Check the actual date listed next to your 846 code on the transcript. That date is when the IRS schedules the deposit to be sent to your bank. Then your bank might take 1-3 more days to actually post it to your account. My 0604 path return had the 846 code but the date was for NEXT week, so I was checking my account for nothing.

has anyone noticed that the 0604 path seems to be moving slower this year? i filed in January, got my 846 code last week, and my refund just hit my account today. last year i was a 0605 path and got my money 2 days after the transcript updated. is the irs just prioritizing certain paths first this year?