I'm in the exact same situation! My transcript shows today as the deposit date with Credit Karma, but nothing has hit my account yet. This is actually my second year filing taxes in the US, and last year I had a similar delay with Credit Karma - my deposit showed up about 36 hours after the IRS transcript date. Reading through everyone's experiences here is really reassuring that this seems to be Credit Karma's standard processing pattern rather than an error. I was starting to worry since I need the funds for some upcoming bills, but it sounds like I should expect it to arrive tomorrow or Friday based on what others are sharing. Thanks for starting this discussion - it's incredibly helpful for those of us who aren't familiar with Credit Karma's timing patterns yet!

I'm going through the exact same thing! My IRS transcript shows today as the deposit date for Credit Karma, but my account is still showing zero. As someone who's fairly new to the US tax system, I was starting to get really worried that I had made some mistake with my filing or banking information. However, reading through all of these experiences has been incredibly reassuring - it seems like Credit Karma consistently takes 24-48 hours longer than the official IRS deposit date to actually post tax refunds to accounts. I've been obsessively checking my account since 5am this morning, but based on what everyone is sharing here, it sounds like this delay is just Credit Karma's normal processing pattern rather than any kind of error. I'll try to be patient and expect it to show up tomorrow or Friday at the latest. Thank you so much to everyone for sharing your timelines and experiences - it's making such a difference for those of us who don't know what's typical yet!

One thing that hasn't been mentioned yet is the importance of understanding how partnership distributions affect your basis calculation. I learned this the hard way when I received a large distribution from one of my real estate partnerships last year. When you receive distributions from the partnership, they reduce your tax basis but don't necessarily change your capital account. If your distributions exceed your basis, you could have immediate taxable gain even if the partnership itself is profitable and your capital account is positive. This is another reason why tracking your actual basis (not just relying on the capital account) is so important. I almost missed a taxable distribution because I was only looking at my capital account balance on the K-1, which showed I still had plenty of "equity" in the partnership. Your partnership agreement should specify how distributions are allocated and whether they're considered returns of capital or something else. Make sure you understand this before you receive any large distributions, especially if you're planning to take money out for other investments.

Great question about tracking basis during the year for distribution planning! I've found a few approaches that work well: 1. **Quarterly basis estimates**: I created a simple spreadsheet that tracks my beginning basis, then adds/subtracts items as they occur during the year. I add my estimated share of partnership income (based on monthly/quarterly reports from the partnership) and subtract any distributions I receive. 2. **Partnership reporting**: Better-managed partnerships will often provide quarterly or semi-annual statements that include estimated basis calculations for each partner. If your partnership doesn't do this, it might be worth asking them to start - especially for partnerships with active distribution policies. 3. **Conservative cushion approach**: Since distributions that exceed basis create immediate taxable gain, I always assume my basis is lower than my rough calculations suggest. I try to keep a cushion of at least 20-30% of any planned distributions in my estimated basis before taking money out. The key is getting regular financial reports from your partnership so you can estimate current year income/losses. Most real estate partnerships should be providing at least quarterly updates on property performance, which you can use to estimate your share of partnership income for basis calculations. It's definitely not perfect, but it beats the surprise of finding out in March that your December distribution created taxable income!

This thread has been an absolute game-changer for me! I've been lurking in this community for a while but felt compelled to finally comment after reading through everyone's incredible insights and success stories. Like so many others here, I was struggling with the Tax Returns section and feeling completely overwhelmed. The 80% passing threshold revelation has been huge - I had no idea and was literally trying to achieve 100% perfection on every practice return, which was creating so much unnecessary stress and analysis paralysis. What I find most encouraging is seeing how many different combinations of strategies have led to success. Some people found breakthrough with the physical forms approach, others with AI tools like taxr.ai, and still others by connecting with actual instructors through services like Claimyr. It really drives home that there's no one-size-fits-all solution, but having multiple tools available gives you options when you hit roadblocks. I'm particularly excited to try the "story" approach that several people mentioned - thinking about each tax return as telling a complete financial narrative rather than just filling out disconnected forms. That perspective shift makes so much more sense than trying to memorize procedures without understanding the underlying logic. Derek, thank you for having the courage to share your struggles so openly. You've created something truly valuable for this entire community. This thread should be pinned as essential reading for anyone approaching the Tax Returns section!

This thread has been absolutely invaluable! As someone who's been struggling with the Tax Returns section for the past few weeks, I can't thank everyone enough for sharing such detailed strategies and encouragement. I'm particularly grateful for the insights about the 80% passing threshold - I had been driving myself crazy trying to achieve perfection on every single detail. That mindset shift alone is going to help me approach my next attempt with much less anxiety and clearer thinking. The combination of approaches discussed here is what really stands out: using physical forms to visualize dependencies, understanding the "story" each return tells rather than just filling blanks mechanically, creating flowcharts for form sequencing, and having systematic review processes. It's clear that success comes from having multiple strategies rather than relying on just one method. I'm planning to implement several suggestions from this thread - starting with printing out the forms to work through by hand, focusing extra attention on those Schedule C scenarios that seem heavily weighted in testing, and doing that crucial final review pass to catch cascading errors. The emphasis on understanding WHY each entry makes sense rather than just memorizing procedures really resonates with me. Derek, thank you for being vulnerable about your struggles - you've created an incredible resource that's going to help so many future students navigate this challenging section. This community's willingness to share both frustrations and solutions is exactly what makes these forums valuable!

Has anyone used TurboTax for reporting these HOA fees for rental properties? I'm trying to figure out where exactly to enter the community fees vs regular HOA fees in their system.

Just want to add another perspective here - I've been managing rental properties for about 5 years and dealing with similar HOA situations. One thing to keep in mind is that you should also track any special assessments separately from your regular monthly/quarterly fees. Last year my condo complex hit us with a $3,200 special assessment for elevator repairs, and that was fully deductible as a rental expense in the year I paid it (since it was for maintenance/repairs rather than improvements). Also, make sure you're getting receipts or documentation for all these payments. The IRS loves to see a clear paper trail, especially if the amounts are substantial. I keep a separate folder just for all HOA-related documents for each property - makes tax time so much easier! Your $175 quarterly community fee definitely sounds like it should be deductible since it's maintaining common areas that benefit your rental property. The fact that it's mandatory and tied to property ownership makes it a legitimate business expense in my experience.

My tax guy explained that the key difference is whether the fee is for a specific service vs simply a charge for making the loan. True "points" are essentially prepaid interest, calculated as a percentage of the loan amount. If your origination fee is listed as "1% origination fee" (or 2.5% in your case), it's more likely to qualify. But if it lists specific services like "document preparation fee" or "underwriting fee," those usually don't qualify even if they're calculated as a percentage.

The distinction isn't really about what they call it - it's about what the fee actually represents. The IRS looks at the economic substance, not just the label. Points are essentially prepaid interest that you pay upfront to get a better rate or to secure the loan. Service fees are payments for specific work done during the loan process. Even if a lender calls something "points," if it's really paying for document prep, appraisals, or underwriting work, the IRS won't treat it as deductible points. Conversely, if they call it an "origination fee" but it's calculated as a percentage of the loan amount and isn't tied to specific services, it likely qualifies. The best approach is to look at your HUD-1 or Closing Disclosure form. Section A lists your loan terms and any true discount points. Section B lists origination charges. If your 2.5% fee appears to be a general loan origination charge rather than payment for itemized services, you should be able to deduct it as points when you itemize.