One trick that worked for me: look at the amounts on those mystery 1099Bs. If they're for small amounts (like under $10), they might be from fractional share dividends or micro-investments. I found that Acorns, Robinhood and some dividend reinvestment plans generate separate 1099s with different TINs than the main investment platform.

Another angle to consider - if you've done any cryptocurrency trading, those mystery 1099Bs might be from crypto exchanges or their payment processors. Many crypto platforms use third-party companies for fiat transactions, and these often have completely different TINs than the main exchange. I had this exact situation with Coinbase - turns out they use different entities for different types of transactions, and some of my crypto-to-USD conversions showed up as separate 1099Bs with TINs I didn't recognize. Check if any of the amounts or dates align with crypto activity you might have forgotten about. Also, don't overlook employer stock purchase plans or 401k brokerages - these often use specialized clearing firms that report separately from your main retirement account provider.

Don't forget you need to file Form 5695 to claim the Residential Energy Credits. The insulation and air sealing materials (including house wrap) go under the Energy Efficient Home Improvements section. Make sure the products meet the requirements - they need to meet criteria set by the International Energy Conservation Code.

Great thread everyone! I went through this exact situation last year with my 1960s ranch house. Here's what I learned after dealing with the IRS and my tax preparer: First, definitely get that itemized breakdown from your contractor if possible - it makes everything much cleaner. But if you can't, don't panic. The IRS accepts "reasonable allocation methods" as long as you document your approach. I ended up using a combination of the strategies mentioned here: contacted the insulation manufacturer for material quantity estimates, researched local retail prices for those materials, and documented everything in a spreadsheet showing my calculations. I also took photos of the packaging materials that were left behind, which helped verify the product specifications. One thing I didn't see mentioned - make sure your house wrap actually qualifies! Not all house wrap products meet the energy efficiency requirements. Check that yours has proper R-value ratings or vapor barrier specifications that qualify under the Energy Efficient Home Improvement Credit rules. Also keep in mind the credit phases down after 2032, so if you're planning more energy improvements, timing matters. The 30% rate is good through 2032, then drops to 22% in 2033-2034. Hope this helps - feel free to ask if you have specific questions about the documentation process!

Quick tip from someone who's been doing backdoor Roth for years: In the future, consider doing your backdoor Roth contribution and conversion in the same tax year to avoid this mess entirely. Instead of contributing directly to a Roth when you're near the income limit, contribute to traditional (non-deductible) first, then convert to Roth shortly after (like a week later). This way, everything happens in the same tax year and you avoid the recharacterization complexity completely. It's much cleaner for tax reporting since you'll just have one 1099-R for the conversion in the same year as your Form 8606 showing the non-deductible contribution.

One thing that helped me when I was in a similar situation was to think of it chronologically and separate the transactions by tax year: **2023 tax year:** Your original $7,500 Roth contribution that you later amended to show as a non-deductible traditional IRA contribution. This established your basis. **2024 tax year:** The recharacterization and conversion are both 2024 transactions, but they're operating on your 2023 contribution amount. Plus your separate new $7,500 Roth contribution for 2024. The key insight is that you have $7,500 for 2023 and $7,500 for 2024 - totaling $15,000 across TWO tax years, not $15,000 in one year. Your tax software is probably lumping everything together as 2024 activity. When entering your 1099-Rs, make sure to specify that the recharacterization relates to a prior year contribution. Most software has a checkbox or dropdown for this. And double-check that your Form 8606 for 2024 is starting with the correct basis from your 2023 non-deductible contribution. If your software keeps showing an excess contribution error even after entering everything correctly, you might need to manually override or adjust how it's calculating your annual limits. Each tax year has its own $6,000/$7,000 limit, and your transactions span two different years.

Another option is to try calling the general IRS customer service line at 1-800-829-1040 and asking them to transfer you to ID verification. Sometimes you can get through faster that way than calling the direct ID verify line. Also, if you have a local Taxpayer Assistance Center (TAC) near you, you can make an appointment and they can help verify your identity in person - might be faster than waiting on the phone!

Check if your local library has any free tax help programs too! A lot of them have VITA volunteers who are familiar with IRS verification issues and might be able to help you figure out next steps. Also worth trying the IRS2Go mobile app - sometimes it shows notices that don't appear on the website. Good luck! 🤞

This thread has been incredibly valuable for someone in my exact situation! I gained control of my UTMA accounts about 6 months ago and have been paralyzed by all the tax and strategic considerations. One thing I'd add that might help others - if you're dealing with accounts that have a mix of individual stocks and mutual funds (like mine do), consider prioritizing the individual stocks for any near-term liquidity needs. Individual stocks tend to have clearer cost basis records since they're just single purchase transactions, whereas mutual funds with dividend reinvestment over 15+ years can have dozens of tiny cost basis entries that are harder to track and optimize. I started by selling a few individual stock positions first just to get comfortable with the process and understand how my brokerage handles cost basis reporting. It was much less overwhelming than trying to tackle the mutual funds with their complex reinvestment histories right away. Also want to echo the comment about having conversations with your parents about their intentions. I discovered that my parents had been strategically choosing tax-efficient index funds for my UTMA specifically to minimize the tax burden when I eventually took control. Understanding that context helped me appreciate the thoughtfulness that went into the original investment choices and influenced my approach to any changes I'm considering.

As someone who works in tax compliance, I want to emphasize something that's been touched on but deserves more attention - the importance of keeping detailed records of any sales you make from your UTMA accounts, especially if you're implementing some of the strategic approaches discussed here. Even though your brokerage will provide you with Form 1099-B showing the proceeds and cost basis, I'd strongly recommend maintaining your own spreadsheet tracking each sale with the specific tax lot information, sale date, and your reasoning for that particular timing (whether it was for tax loss harvesting, staying within certain income brackets, etc.). This documentation becomes invaluable if you're ever audited, but more importantly, it helps you track the success of your strategy over time. If you're spreading sales across multiple years or coordinating with education expenses or financial aid timing, having your own records makes it much easier to optimize future decisions. Also, don't forget about estimated tax payments if you're realizing significant gains. If your UTMA sales will result in a tax liability of $1,000 or more, you may need to make quarterly estimated payments to avoid underpayment penalties, especially if you don't have other income with withholding to cover the additional tax burden.