Don't forget about reporting requirements! While the transfer itself might not be taxable beyond potential currency gains, you may need to file an FBAR (FinCEN Form 114) if your foreign accounts exceeded $10,000 total at any point during the year. I learned this the hard way after moving money between my Canadian and US accounts. The penalties for not filing an FBAR can be severe even if you don't owe any taxes. There's also Form 8938 if your foreign assets exceed certain thresholds, but that typically applies to residents, not someone on a J-1 visa. Since you were on a J-1 and never a US resident for tax purposes, your reporting requirements might be different, but it's worth checking just to be safe.

Just went through this exact situation last month when transferring funds from my US account back to Australia after finishing my F-1 OPT period. Here's what I discovered: The transfer itself is NOT taxable - you're just moving your own money between accounts. However, you do need to be aware of potential foreign exchange gains/losses. Since you earned the money at one exchange rate and are transferring at potentially a different rate, any gain could technically be taxable income. For your J-1 situation specifically, since you were never a US resident for tax purposes, your obligations are more limited than someone who was a resident. But you should still document the original exchange rates when you earned the money versus when you transfer it. One thing that caught me off guard - make sure to check if you need to file an FBAR. Even though you're not a US resident, if your UK account (or combination of foreign accounts) exceeded $10,000 at any point during the tax year, you might still have FBAR filing requirements. The rules can be tricky for non-residents with US source income. I'd recommend keeping detailed records of when you earned the money, the exchange rates at that time, and the rates when you transfer. That way you're covered if there are any questions later.

Last year I was in the same boat as you, checking my transcript constantly! Then one morning I checked my bank account first and the refund was there - I was shocked! When I checked my transcript immediately after, there was still no 846 code. I panicked thinking maybe it wasn't really my refund. About 6 hours later when I checked again, the transcript had finally updated with the 846 code dated for that same day. So technically I got my refund before seeing the code, but I think it was just a timing issue with when the systems update. The stress of tax season is real!

I've been following this thread and wanted to share my experience from this year. Filed early February and have been obsessively checking my transcript too! What I've learned is that the 846 code is basically the IRS's way of saying "payment authorized and scheduled." From what I can tell, some banks might show pending deposits in their systems before the IRS transcript updates are visible to us, but the 846 code was likely already generated internally. It's just a matter of when their public-facing transcript system refreshes versus when your bank's ACH system picks up the incoming transfer. The whole process is definitely more complex than I initially thought! Are you seeing any other codes on your transcript or is it completely static?

Just want to add one small tip - if you're currently unemployed, make sure the IRS knows that when you set up any payment plan. I was unemployed when I owed taxes and didn't realize I qualified for "Currently Not Collectible" status for a while. Had been struggling with payments I couldn't afford. When you talk to the IRS (either through the phone or via correspondence), be very clear about your financial situation. They'll usually ask you to complete a Form 433-F or 433-A which details your income, expenses, assets, and liabilities. Be thorough and honest on this form!

I'm in almost the exact same situation - lost my job in December and just realized I owe about $2,800 from some 1099 work I did last year. Reading through all these responses has been incredibly helpful! One thing I want to add is that if you're receiving any unemployment benefits, make sure you're having taxes withheld from those payments going forward. I made the mistake of not doing this initially and it's just adding to my tax problem for this year. You can request withholding by filing Form W-4V with your state unemployment office. Also, I called my local IRS Taxpayer Advocate Service office and they were really helpful in explaining my options without any pressure. They're a free service within the IRS that helps taxpayers resolve problems. Might be worth a call if you're feeling overwhelmed by all the different options people have mentioned here. Hang in there - it sounds like there are definitely ways to work through this without destroying your financial future!

Just a heads up that tax filing for someone with dementia gets more complicated if they have income from multiple states. My father had rental properties in Florida while living in Pennsylvania with dementia. We had to file state returns for both states, and it got confusing quick. Make sure you understand which state considers your family member a resident for tax purposes. Some care facilities can affect residency status depending on whether they're considered permanent or temporary living arrangements.

I'm dealing with a very similar situation with my father who has vascular dementia. One thing I learned the hard way is to keep detailed records of every interaction with the IRS, including dates, times, and reference numbers. Also, don't forget about potential tax benefits you might be eligible for - medical expenses for dementia care can be significant deductions, and there are specific provisions for care facility costs. The IRS Publication 502 has details about what medical expenses qualify. I'd recommend getting everything set up sooner rather than later, as the process can take several weeks. The IRS moves slowly, and you want to have all the proper authorizations in place well before any deadlines. It's also worth noting that some banks and investment companies will require separate power of attorney documents beyond just the IRS forms. Hang in there - it's overwhelming at first but gets more manageable once you have the systems in place.

Something nobody's mentioned - if the mold remediation was medically necessary (like if someone in your household has a documented respiratory condition that was being affected by the mold), you might be able to deduct it as a medical expense. But there's a big catch: medical expenses are only deductible if they exceed 7.5% of your adjusted gross income AND you itemize deductions instead of taking the standard deduction.

Great discussion here! Just wanted to add one more angle that might be relevant - if your home was built before 1978, you should also check if any lead-based paint was disturbed during the mold remediation work. If the contractor had to do lead abatement as part of the process, that portion might qualify for different tax treatment. Also, since you mentioned this is your first home and you bought it in late 2023, make sure you're aware of any first-time homebuyer credits or programs in your state that might still apply to improvements made within the first year or two of ownership. Some states have specific programs for necessary health and safety repairs for new homeowners. The insurance angle mentioned above is definitely worth pursuing - even if your standard homeowners policy doesn't cover it, some policies have separate riders for environmental hazards that you might not be aware of. And definitely keep all that documentation organized regardless of immediate tax benefits - you'll thank yourself later!