Thanks everyone for the detailed explanations! This is super helpful. I had no idea about the 28% collectibles rate - I was thinking it would just be regular capital gains rates. Just to make sure I understand correctly: since I held the coins for several years (grandfather gave them to me in 2019), I qualify for long-term capital gains treatment, but at the higher 28% collectibles rate rather than the standard 15%/20% rates that apply to stocks? Also, do I need any special documentation beyond the sale receipts? I have the original purchase receipts my grandfather kept, plus all my sale confirmations from the coin dealer. Should I also get some kind of appraisal or valuation documentation for my records? One more question - is there a minimum threshold for reporting these sales, or do I need to report even small gains? The total gain across all coins was only about $620, but I want to make sure I'm doing everything correctly.

Just want to emphasize something important that might not be clear - when you report this on Form 8949, make sure you're using the correct basis calculation. Since these were gifts from your grandfather, you use his original cost basis ($2320 per coin), not the fair market value when you received them. This is different from inherited property where you'd get a "stepped-up basis." With gifts, you inherit the donor's basis along with their holding period, which is why you qualify for long-term treatment even though you personally didn't hold them for over a year before selling. Also, keep all that documentation you mentioned in a safe place - the IRS can audit up to 3 years after filing (6 years if they suspect substantial underreporting), so you'll want those receipts available if questions arise later.

My dad and I were in a similar situation last year. We went with the multi-member LLC route with a 75/25 split and it's worked well for us. One thing nobody mentioned yet - make sure your dad is actually providing some services or capital to the business! The IRS doesn't look kindly on "partnerships" where one person is just there for tax benefits without contributing anything.

Just wanted to add my perspective as someone who went through this exact decision process recently. I ended up choosing a multi-member LLC with my mom (70/30 split) and it's been working great for our consulting business. A few practical considerations that helped me decide: First, the multi-member LLC gives you flexibility to adjust profit/loss allocations in your operating agreement if your business circumstances change. Second, you can always convert to S-Corp status later by filing Form 2553 if you reach the profit threshold where it makes sense. One thing that surprised me was how much simpler the bookkeeping is compared to what I expected. Yes, you file Form 1065, but tax software makes it pretty straightforward, and having clear documentation of who contributed what from the start really helps. Make sure you get that operating agreement drafted properly though - it's worth spending a few hundred dollars on a business attorney to get it right rather than using a template. The IRS will scrutinize family partnerships more closely, so having everything documented properly from day one is crucial.

Also note that for prior year returns, you CANNOT e-file. The IRS only accepts electronic filing for the current tax year and previous two years. For 2020, you definitely have to mail a paper return at this point.

I was in a similar situation last year filing my 2019 return super late. Here's what I learned after going through this whole process: 1. Use the 2020 mailing address from the original 2020 Form 1040 instructions - not the current year's address 2. Write "TAX YEAR 2020" in large letters on the outside of your envelope so it gets routed correctly 3. Send it certified mail with return receipt - this gives you proof of delivery in case the IRS claims they never got it 4. Include a brief written statement explaining why you're filing late (doesn't need to be a special form, just a simple letter) 5. Be prepared for interest charges on any taxes owed - they calculate from the original 2020 due date The IRS processing centers do sometimes change, but they maintain mail forwarding for situations exactly like this. The key is using the correct tax year's instructions and making sure it's clearly marked on your envelope. You've got this - better late than never!

I also have the same issue but my code 150 have a future date , code 810 is some months ago

Hey Greg! I went through something super similar last year. The 810 freeze is definitely frustrating but you're on the right track having done the in-person verification. Those codes 766 and 768 are actually good signs - they show your credits are being processed and applied to your account. The 4/15/24 date you're seeing is just the tax filing deadline, not your refund date unfortunately. After identity verification, the IRS usually takes 6-9 weeks to lift the freeze and process your refund. Keep checking your transcript for when that 810 code disappears - once it's gone and you see an 846 code, that's when you'll have your actual refund date! The waiting is the worst part but you're definitely moving in the right direction 👍

I went through this exact same frustration last year and want to share what finally worked for me. After reading through everyone's suggestions here, I tried multiple approaches before finding my missing $78k in withholdings. What ultimately solved it was a combination of several things mentioned in this thread: 1. **Check your final paystub of the year** - Like Anastasia mentioned, mine showed "Supplemental Tax Withholding" that didn't transfer properly to my W2. 2. **Contact your stock plan administrator directly** - This was key. I called the dedicated RSU support line (not regular HR) and they provided a "Tax Withholding Summary" that clearly showed all amounts remitted to the IRS on my behalf. 3. **Look for Form 945** - This is something no one mentioned yet, but some companies file this form for supplemental withholdings like RSUs. While you won't receive a copy, asking about it helped my HR team locate the correct withholding amounts in their system. The most important thing I learned is that the withholding definitely exists in the IRS system even if your documentation is incomplete. When I finally filed my return claiming the full withholding amount, it was accepted without any issues. For immediate peace of mind while you're still searching for documentation, you can also request a tax account transcript from the IRS (it's free online) which will show all payments made on your behalf, including estimated payments from brokerages. Don't give up - that money was sent to the IRS and you absolutely should get credit for it!

I'm dealing with a very similar situation right now! I had about $85k withheld from my RSU sale through Charles Schwab, but like you, it's nowhere to be found on my W2. Reading through this thread has been incredibly helpful - I had no idea this was such a common issue. Based on what everyone has shared, I'm going to start by checking my company's stock plan portal (separate from my regular Schwab account) and look for that "Tax Center" section that Gabrielle mentioned. I also like the idea of requesting a tax account transcript from the IRS to confirm they actually received the withholding. One thing I'm curious about - has anyone here had success getting a corrected W2 from their employer to include the missing RSU withholdings? It seems like that would be the cleanest solution if the withholding was supposed to be on the W2 in the first place, rather than having to hunt down separate documentation or report it on different tax forms. This thread is a goldmine of practical advice that you just can't find in generic tax guides. Thanks to everyone who shared their experiences!