Don't forget to check if your state allows deductions for unreimbursed employee expenses even though federal doesn't! I'm in NY and we can still deduct these expenses on our state return if they exceed 2% of our adjusted gross income.

Pennsylvania does allow some unreimbursed employee expense deductions on your state return! You can deduct qualifying work expenses that exceed 2% of your adjusted gross income, similar to how the federal deduction used to work before 2018. For remote work expenses like internet upgrades, office supplies, or dedicated workspace costs, you'll want to look at PA Schedule UE (Unreimbursed Employee Business Expenses). The key is documenting that these expenses are ordinary, necessary, and directly related to your job duties. Keep detailed records of your internet bills showing the cost difference between your work-required plan and what you'd need for personal use. Also save receipts for any office equipment, software, or supplies you purchased specifically for work. Since you mentioned paying an extra $25/month for faster internet ($85 vs $60), that's $300 annually. If your other work expenses push you over that 2% AGI threshold, you could potentially deduct the work portion on your PA return even though you can't federally.

One thing that helped me when I was starting out was understanding the concept of "realization" in tax law. The IRS only cares about transactions where you've actually realized a gain or loss - meaning money has changed hands. Just holding stocks that go up or down in value is like having a baseball card collection that becomes more valuable over time. You don't owe taxes on your baseball cards getting more expensive until you actually sell them to someone else. The same principle applies to your brokerage account. Your $10k paper gain is just that - on paper. Until you click "sell" and receive actual cash proceeds, it's not a taxable event. This is why people talk about "tax-loss harvesting" - strategically selling losing positions to offset gains, because you control when to realize those losses. Keep doing what you're doing - buy and hold is not only a solid investment strategy, but it's also very tax-efficient!

Just to add another perspective that might be helpful - I work as a tax preparer and see this confusion all the time with new investors. The key thing to remember is that the U.S. tax system is based on "realization," not "appreciation." Think of it this way: if you bought a house for $200k and it's now worth $300k, you don't pay taxes on that $100k increase until you actually sell the house. Stocks work exactly the same way. Your brokerage will automatically send you the appropriate tax forms when there's actually something to report. So if you only bought stocks in 2024 and didn't sell any, you won't receive a 1099-B for that tax year. When you do eventually sell in future years, that's when you'll get the 1099-B showing your proceeds, and that's when you'll report it on Schedule D. The only time you might need to think about taxes before selling is if you're doing strategic tax planning (like tax-loss harvesting near year-end), but that's an advanced strategy you don't need to worry about as a beginner. Keep good records of your purchases, but don't stress about reporting anything until you actually sell!

I been using Chime for 2 years now. no issues with taxes or direct deposits ever. just make sure ur account info is 100% correct when u file

I've been using Chime for my refunds for the past 3 years and honestly it's been pretty reliable. Usually get my money 1-2 days early like they advertise. The key is making sure your routing/account numbers are exactly right when you file - any typo will cause delays. No hidden fees on my end, but definitely keep some backup plan just in case there are processing hiccups.

I was in a similar situation last year with over 200 cryptocurrency transactions that I was dreading having to list individually. After researching the IRS guidelines and consulting with a tax professional, I can confirm that consolidation is absolutely allowed and widely practiced. The key things I learned: Keep meticulous records of every individual transaction (date, amount, price, fees, etc.) even though you're consolidating on the form. Group transactions by the same asset and similar circumstances (regular trades vs wash sales). Make sure your consolidated totals exactly match what's reported on your 1099-B forms. Use "VARIOUS" for dates when you have multiple acquisition or sale dates for the same asset. I ended up consolidating about 200 transactions down to 12 lines on Form 8949, and my tax preparer said it was perfectly compliant. The IRS actually prefers this approach for high-volume traders because it makes their processing easier too. Just be prepared to provide detailed backup documentation if they ever ask for it (which is rare). Don't let the fear of an audit keep you from using a legitimate IRS-approved method!

As someone who's been through this exact situation, I can confirm that consolidation is definitely the way to go! I had over 300 trades last year and was absolutely panicking about the paperwork until I learned about this option. The IRS Publication 550 specifically mentions that you can use summary reporting for multiple transactions of the same security. Your tax advisor was right - this is completely legitimate and widely used by active traders. A few practical tips from my experience: Make sure you have a good system for organizing your detailed records by asset type and date. I created a spreadsheet that tracks every individual transaction and then calculates the consolidated totals for each unique security. Double-check that your consolidated amounts match your 1099-B forms exactly - even a penny difference can cause headaches. Also, don't forget to indicate the proper basis reporting category (covered vs non-covered) and holding period (short-term vs long-term) when consolidating. You can't mix these categories on the same line. The peace of mind of having a manageable Form 8949 instead of a phone book is absolutely worth it, and you're not doing anything wrong or risky!

Check your tax transcript. Online. Might show what the original issue was. Could give you clues. Worth a look. Faster than waiting.

Ana, I understand your concern about receiving Notice 1462! As others have mentioned, this notice is essentially the IRS saying "we received your response and are working on it." Since you mentioned being recently retired, I'm curious - do you recall what the original notice was about? Given that you're dealing with new retirement income sources like pension and Social Security, the original issue might have been related to income reporting discrepancies. The good news is that Notice 1462 means they're actively reviewing your case, not that there's a new problem. Since you're so well-organized with your tax documents (love the color-coded folders!), you're already ahead of the game. I'd recommend checking your online IRS account or requesting a tax transcript as Kendrick suggested - this might give you more insight into what triggered the original notice. The waiting period can be nerve-wracking, but try not to stress. The IRS is just extremely backlogged right now. Keep doing what you're doing with your tax preparer, and you should be fine!