Has anyone reported them to the IRS Office of Professional Responsibility? This kind of behavior reflects badly on the whole tax preparation industry and erodes public trust.

This is exactly why I always tell new tax professionals to thoroughly research any platform before signing up. The red flags you mentioned - promises of high earnings without clear payment terms, mysterious client "cancellations" after work is completed, and that financial advisor deliberately preventing filings - are classic signs of exploitative business practices. As someone who's been in tax preparation for over a decade, I've seen legitimate platforms come and go, but the good ones always have transparent fee structures and pay for completed work regardless of filing status. The work product has value whether the client ultimately files or not. Document everything you can - emails, screenshots of their income promises, records of completed returns, communication with that financial advisor. This evidence will be crucial for your regulatory complaints. Also consider reaching out to other tax professionals who used the platform - you're probably not the only one experiencing this. The tax preparation industry needs to do better at protecting professionals from these predatory business models. Thanks for sharing your experience to warn others.

I'm in a similar boat as an 18-year-old trying to figure this stuff out! One thing that's helped me is understanding that even though you made a profit, you're probably way below the income threshold where you'd actually need to file taxes. The standard deduction for 2024 is $14,600, so unless you're making close to that from all sources combined (gig work + ticket sales + anything else), you likely don't need to file at all. That said, I'd definitely keep records of the transaction just in case. Save your original purchase receipt and the StubHub payment confirmation. If you do end up needing to file taxes later in the year because your gig work picks up, you'll want to have everything documented. The good news is that at our age, the IRS really isn't worried about small amounts like this. They're focused on people who are clearly avoiding taxes on substantial income. But it's smart that you're asking these questions now - understanding this stuff early will make your financial life so much easier as you get older!

As someone who's been helping people navigate these situations for years, I think you're getting great advice here! Just to add a practical perspective - since you're 18 and this is your first time dealing with tax questions, I'd recommend treating this as a learning opportunity even though the amount is small. The $44 profit you made is technically taxable income, but as others mentioned, you're likely well below the filing threshold if this is your main income for the year. However, I'd suggest keeping detailed records of both the purchase and sale (screenshots, PayPal confirmations, etc.) because good documentation habits will serve you incredibly well as you start earning more. One thing I'd add - if you continue doing gig work throughout the year, you might cross that $14,600 threshold and need to file. In that case, having all your income sources documented (including this ticket sale) will make the process much smoother. Also, don't feel bad about not knowing this stuff! The tax system is confusing, and most 18-year-olds haven't had to deal with it yet. You're being smart by asking questions now rather than figuring it out the hard way later. Consider this a good introduction to the world of tax responsibility!

I went through this exact same situation last year and can confirm what everyone else is saying - you're completely fine! I had about $8,000 in 1099-NEC income that came in my personal name instead of my business name, and I was super worried about it too. I ended up calling the IRS directly (after waiting forever on hold) and the agent explained that for sole proprietorships, the matching happens by SSN, not name. She said they see this all the time and it's never an issue as long as the SSN and income amounts are correct. Just report it on your Schedule C like normal. The IRS computers are smart enough to match everything up properly. I filed mine that way and never heard a peep from the IRS about it. One tip though - next year, maybe send your clients a W-9 form early in the year with your business info clearly filled out. That's helped me avoid most of these name mismatches going forward.

I actually had this exact same worry when I first started my consulting business! Got a 1099-NEC in my personal name and spent way too much time stressing about it. What everyone here is saying is absolutely correct - for sole proprietorships, you and your business are legally the same entity. The IRS matches everything by your SSN, not the business name on the form. I've been filing 1099s with mixed names (some personal, some business) on the same Schedule C for years now with zero issues. The $14,800 amount you mentioned is definitely significant enough that you want to report it properly, but the good news is it's straightforward. Just include it with all your other business income on Schedule C and you're all set. One thing that gave me extra peace of mind was keeping a simple spreadsheet that tracks which 1099s correspond to which business projects/clients. That way if there are ever any questions, you have clear documentation showing the income belongs to your business activities. But honestly, this is such a common scenario that the IRS systems handle it seamlessly.

Welcome to the community, and congratulations on what sounds like great progress! Your experience mirrors what many of us have gone through with investment income triggering additional review. That status change from "still being processed" with verification language to just "being processed" without it is indeed a very positive indicator. I've noticed that returns with new investment income (especially first-time reporting of capital gains, dividends, or crypto) almost always get flagged for additional verification. The IRS seems to be particularly thorough with these types of income changes, but once you clear that hurdle, processing typically moves along much more smoothly. Based on what others have shared here and my own experience, you're probably looking at about 1-2 weeks before you see the "approved" status, followed pretty quickly by the actual refund. The key thing is that verification notice disappearing completely - that's not something the system does unless they've actually resolved whatever identity confirmation they needed. Your organization with taxes will definitely work in your favor here. Investment income can make things slightly more complex, but it sounds like you handled it correctly and are now just waiting for the normal processing timeline to play out. Keep checking WMR daily, but try not to stress too much - you seem to be right on track!

That's fantastic news! The status change you're describing is definitely a positive sign that you've cleared the verification hurdle. I went through something very similar about 6 weeks ago with some new 1099-B forms from stock trades, and that exact same progression happened - "still being processed" with verification notice for about 3 weeks, then suddenly it switched to just "being processed" with no verification language. What really stood out to me reading your post is how you mentioned being "usually pretty organized" - that actually works in your favor here. The IRS verification process seems to be more about confirming identity when there are new income sources rather than looking for problems with your actual filing. Investment income, especially if it's your first year reporting it or if the amounts are significantly different from previous years, almost always triggers some additional review. From my experience and what I've seen others share, you're probably looking at about 7-14 days before you see the next status update. The verification notice disappearing completely is really the key indicator that you've moved past the security review phase. Keep checking WMR daily, but try not to stress about it too much - it sounds like you're through the hardest part of the wait now!

Has anyone used the cost segregation strategy for their rental? My accountant mentioned it could increase my deductions in the early years by breaking down the property into components with shorter depreciation periods, but it sounds complicated and expensive to get the analysis done.

Great question! As others have mentioned, you don't need to enter anything for carryover depreciation in your first year - that field is for situations where someone had unused depreciation from prior years that they couldn't claim. For your $275,000 rental property, here's what you need to focus on: 1. Separate the land value from the building value (only the building is depreciable) 2. Calculate depreciation from March when you started renting it out - you'll get partial year depreciation for 2024 3. Use the mid-month convention, which means you treat the property as placed in service in the middle of March Since you started renting in March, you'll be able to claim about 9.5 months of depreciation for your first year. Keep good records of your basis calculation because you'll need this information every year going forward. One tip: take photos and document the condition of appliances, flooring, and fixtures when you first put the property in service. These items often have shorter depreciation periods than the 27.5-year building depreciation, and good documentation will help if you ever need to justify separate depreciation schedules for these components.