Something nobody's mentioned yet - if you're the original beneficiary of the 529 plan (meaning it was set up for your education), the $10k lifetime limit applies to you. But if you have leftover funds, you could change the beneficiary to a sibling or even your own child if you have one, and they'd get their own separate $10k lifetime limit for student loan repayments.

Just wanted to add a practical tip - when you make your student loan payment, consider making it from the same account where you deposited the 529 funds. This creates a cleaner paper trail showing the direct connection between the withdrawal and the loan payment, which could be helpful if you ever need to document the qualified use for the IRS. Also, make sure you save both your 529 withdrawal statement and your student loan payment confirmation. I keep mine together in a dedicated tax folder since you'll need them when you file. The timing doesn't have to be exact (like same day), but keeping everything well-documented will save you headaches later!

If you want to avoid having to figure out estimated payments altogether next year, another option is to increase your withholding from your W-2 job. If you have a decent paying regular job, you can fill out a new W-4 and put an additional dollar amount to be withheld from each paycheck. This approach has a big advantage: Withholding is considered to be paid evenly throughout the year even if it's actually withheld later in the year. So if you realize in November that you're going to owe $2,000 more, you could have extra withheld from your November and December paychecks and the IRS treats it as if you paid it evenly January through December!

Great question! You're right that you can make a catch-up payment now rather than waiting until filing time - that's definitely better for avoiding penalties. The IRS doesn't require you to follow the exact quarterly schedule if you're just trying to true up your withholding shortfall. However, keep in mind that estimated tax payments are applied as of the date received, so a payment made now won't retroactively cover earlier quarters. But it will stop additional penalties from accruing going forward. For your situation with $3,800 withheld vs $5,100 expected liability, making that $1,300 payment now makes sense. You can use the IRS Direct Pay system online - just select "estimated tax" as the payment type. No need for paper forms. One thing to double-check: make sure your $5,100 calculation includes both income tax AND self-employment tax if any of your income is from freelancing or contract work. That 15.3% self-employment tax often catches people off guard!

This is such a common confusion for new filers! Just to add to what others have said - another quick way to think about it is that Box 1 is what the federal government will tax you on, and Box 16 is what your state will tax you on. The difference of $3,600 in your case ($46,850 - $43,250) suggests you have some pre-tax deductions that your state doesn't recognize. Common culprits are 401k contributions, health insurance premiums, or flexible spending accounts. If you're contributing to a 401k, that's probably the biggest piece of the puzzle. When you get your next paystub, look for any "pre-tax" deductions - those will reduce your Box 1 but might not reduce your Box 16 depending on your state's tax laws. TurboTax will handle this automatically when you enter your W-2 info, so you're all set there. Just enter the numbers exactly as they appear on your form and let the software do the work!

Just wanted to share my experience as someone who was in the exact same boat last year! The $3,600 difference between your Box 1 and Box 16 is actually pretty typical. What really helped me understand this was looking at my December paystub and adding up all the "pre-tax" deductions for the entire year. In my case, I was contributing $200/month to my 401k ($2,400 for the year) plus about $150/month for health insurance premiums ($1,800 for the year). That $4,200 total explained why my Box 16 was higher than Box 1 - my state doesn't give you a tax break for 401k contributions like the federal government does. The good news is TurboTax makes this super easy. When you get to the W-2 entry screen, just type in the numbers exactly as they appear in each box. The software knows which number goes where for federal vs state taxes. I was worried I'd mess something up, but it's actually pretty foolproof. You've got this!

I'm currently in week 12 of waiting for my spouse's ITIN application that we submitted in March, and I wanted to share a recent update that might help others in similar situations. After reading all the advice in this thread about calling early morning, I finally got through to the ITIN unit last week at 7:15 AM using the 1-800-908-9982 number (option 3). The representative was incredibly helpful and told me our application was in "final review" stage, which she said typically means 2-3 weeks until the ITIN is issued. She also mentioned something interesting - they're currently processing applications faster than the quoted 12-16 weeks for tax season submissions. She said they've been working through the backlog and current processing times are closer to 10-14 weeks for complete applications. For those dealing with mortgage applications, I followed the advice about getting a letter from our tax preparer explaining the situation. Our lender was very understanding and agreed to start the pre-approval process with that documentation, which has kept our home buying timeline on track. The key really is persistence with calling early in the morning. I tried calling at various times over several weeks with no success, but that 7 AM call got me through after only 45 minutes on hold. Don't give up - the wait is definitely worth it for the peace of mind of knowing exactly where your application stands!

I'm currently at week 7 with my partner's ITIN application that we submitted in late April, and this entire thread has been incredibly valuable! It's so reassuring to see that many of us are going through the exact same timeline and concerns. After reading all the experiences shared here, I tried the "Where's My Refund" tool and confirmed our return was received - such a simple check but it really does provide peace of mind that our paperwork made it to the IRS safely. I'm planning to try the early morning calling strategy this week using the 1-800-908-9982 number with option 3. Hearing from Liam that he got through in 45 minutes at 7:15 AM gives me hope that it's actually possible to reach a real person who can provide specific status updates. The realistic timeline expectations have been so helpful too. Going into this process, I was hoping for 6-8 weeks, but understanding that 10-14 weeks is more realistic for tax season submissions helps me plan better and manage my anxiety about the wait. For anyone else in this situation - this community's shared experiences have been more helpful than anything I found on official IRS websites. It's comforting to know we're not alone in this process and that persistence with calling really does pay off. Thank you to everyone who has taken the time to share their real-world experiences!

I went through this exact situation two years ago when I inherited my father's IRA. You're absolutely correct that inherited IRA distributions are exempt from the 10% early withdrawal penalty regardless of your age. The key thing to look for is the distribution code in Box 7 of your 1099-R. It should be code "4" for death distributions. If it shows code "1" (early distribution), you'll need to file Form 5329 and use exception code "4" on line 2 to avoid the penalty. Since your uncle was 64 and hadn't started RMDs yet, and you inherited after 2019, you'll be subject to the 10-year rule under the SECURE Act. You have flexibility in when you take distributions within that 10-year window, but the account must be fully depleted by December 31st of the year containing the 10th anniversary of his death. One thing I learned the hard way - keep all documentation showing it's an inherited IRA. The IRS sometimes questions these distributions years later, and having clear records saved me a lot of hassle. Also, don't forget that while there's no penalty, the distributions are still fully taxable as ordinary income, so plan accordingly for the tax impact.

Just want to add another perspective here - I dealt with this same inherited IRA situation last year and ran into a quirk that might be helpful to know about. Even though my 1099-R had the correct code "4" for death distributions, I still received an IRS notice months later questioning the lack of penalty on my return. It turned out that their automated systems sometimes flag inherited IRA distributions for review, especially if you're under 59½. I had to send in copies of the death certificate and documentation showing I was the named beneficiary to clear it up. The whole process took about 6 weeks but was ultimately resolved with no issues. My advice would be to make copies of all your inheritance documentation before you file, just in case. Also, if you do get any IRS correspondence about it, don't panic - it's often just their system double-checking, not an indication that you did anything wrong. The $18,500 you mentioned is definitely reportable as ordinary income, but you should be completely in the clear on the penalty as long as everything is documented properly.