As someone who's been running a successful pet influencer business for about 18 months, I can confirm that this is absolutely doable - but you need to be strategic about it from the start. The most important thing I learned is that the IRS looks for a clear separation between personal pet ownership costs and legitimate business expenses. My golden retriever would need food, toys, and vet care regardless of his Instagram account, so those basic expenses stay personal. However, the specialized equipment I bought specifically for content creation (ring lights, backdrop stands, special treats only used for training during shoots) are legitimate business deductions. I've found success by treating this exactly like any other small business. I registered an LLC, opened a business bank account, and maintain meticulous records. Every business expense gets logged with a photo, receipt, and description of how it contributed to content creation or revenue generation. One tip that's been invaluable: I created a "content calendar" that shows planned posts and associated expenses. This helps demonstrate to the IRS (and myself) that purchases were made with specific business purposes in mind, not just impulse buys I'm trying to write off later. The profit requirement is real though - you need to show you're genuinely trying to make money, not just subsidizing pet ownership through tax deductions. Focus on building multiple revenue streams early: sponsored posts, affiliate marketing, maybe even merchandise featuring your pet.

This thread has been incredibly insightful! I'm just getting started with my rabbit's Instagram account and had no idea about the complexity involved in legitimate business deductions. One thing I'm curious about that hasn't been mentioned yet - what about equipment depreciation? If I invest in a good camera or lighting setup specifically for my pet content, can I depreciate that over time like other business equipment? And does the equipment need to be used exclusively for the pet business, or can I use it for other purposes too? Also, I'm wondering about the timing of when to start treating this as a business. Should I wait until I have some income before making business-related purchases, or is it okay to invest upfront in equipment and setup costs before generating revenue? I don't want to put the cart before the horse, but I also want to create quality content from the beginning to attract potential sponsors. The advice about maintaining separate accounts and detailed documentation is definitely noted - it seems like the key is being able to prove legitimate business intent from day one rather than trying to justify personal expenses after the fact.

Just a tip - if your husband's ESPP is a qualified plan, there are special holding period rules that affect taxation. If he held the shares for at least 1 year from purchase AND 2 years from the offering date, any discount might qualify for better tax treatment.

I went through this exact same situation last year with my ESPP shares! The "non covered security" designation was so confusing at first. Here's what I learned that might help: Your husband will need to contact his company's stock plan administrator (usually listed on the 1099-B or his employee benefits portal) to get the original purchase details. They should be able to provide a statement showing the purchase date, number of shares bought, purchase price per share, and the fair market value on that date. For the cost basis calculation, it's typically the actual amount paid for the shares (the discounted price). So if he bought shares at a 15% discount, his cost basis would be that discounted purchase price multiplied by the number of shares. One thing to watch out for - depending on how long he held the shares, part of the discount might need to be reported as ordinary income on your tax return, separate from the capital gains/loss calculation. TurboTax Premier does handle this well, but make sure you have all the purchase documentation first. The good news is once you gather the paperwork, it's actually straightforward to enter into tax software. The hardest part is just getting the original purchase information from the company!

I've been using TurboTax with Robinhood for two years now and overall it's been pretty smooth. One thing I'd add to what others have said - make sure you wait until Robinhood releases their final 1099 before importing. They sometimes issue corrected versions in late February/early March if there were errors in dividend reporting or corporate actions. Also, if you're planning to itemize deductions, keep track of any margin interest you paid throughout the year. It's deductible as investment interest expense, but you'll need to enter it manually since the import doesn't always catch it. You can find this info in your Robinhood monthly statements. For a first-time filer with stock trades, TurboTax should handle your situation just fine. The key is to take your time reviewing everything after the import and don't rush through it. Good luck!

I've been using TurboTax with Robinhood for the past four years and can confirm it generally works well for most situations. A few additional tips from my experience: 1. **Timing matters** - Don't rush to file in January. Wait until at least mid-February to make sure you have the final version of your 1099. I learned this the hard way when I had to amend my return one year. 2. **Review wash sales carefully** - These can be confusing even after import. If you sold a stock at a loss and bought it back within 30 days, the loss gets deferred. TurboTax usually handles this correctly, but it's worth understanding what happened. 3. **Check your state taxes too** - Some states have different rules for capital gains, so make sure the import works correctly for your state return as well. 4. **Keep good records** - Even though TurboTax imports everything, I still keep screenshots of my Robinhood summary pages and download copies of all my 1099s. You never know when you might need them later. For someone with your level of trading activity, TurboTax should definitely be sufficient. The import feature has gotten much more reliable over the years. Just take your time with the review process and you should be fine!

One thing that hasn't been mentioned yet - if you do qualify for the partial exclusion due to work relocation, make sure you understand how the calculation actually works. The partial exclusion is calculated as: (months you lived in the home / 24 months) × full exclusion amount. So if you've lived there 8 months and are single, you'd get 8/24 × $250,000 = about $83,333 in excluded gains. Given your potential $45k gain, you'd likely owe zero capital gains tax if the work relocation qualifies. Also, don't forget that your basis isn't just the $480k purchase price - you can add closing costs from when you bought, any qualifying home improvements, and selling expenses (realtor fees, title insurance, etc.) to reduce your taxable gain even further. Keep all those receipts!

I went through something very similar about 6 months ago when my employer relocated our entire department. The 50-mile rule that Lia mentioned is key - make sure you measure the distance from your current home to both your old and new work locations to confirm you qualify. One thing I wish I had known earlier: if your company is paying for any relocation expenses, make sure you understand how that affects your taxes. Some employer-paid moving expenses might be taxable income to you now (the rules changed in recent years), but that's separate from the house sale capital gains issue. Also, start gathering your documentation now even if the transfer isn't finalized yet. I had to scramble to find emails and official transfer notices when it came time to file. Having everything organized early made the whole process much smoother with my tax preparer. Given your 8 months of ownership and potential $45k gain, you should be in good shape tax-wise if the work relocation qualifies for the partial exclusion!

I just want to echo what everyone else has said about calling the Treasury Offset Program at 800-304-3107 - that really is your best bet for getting concrete answers. I went through this same situation about 8 months ago and I know how stressful it is when you're counting on that refund money! In my case, it turned out to be for an old federal student loan that had gone into default without me realizing it. The scary part was not knowing what was happening, but once I called and got the details, I felt so much better. They were able to tell me exactly how much went to the Department of Education ($1,850) and that I'd still be getting the remaining $975 from my original $2,825 refund. Sure enough, about 10 days later the rest showed up in my account. The key thing is don't let the unknown eat away at you - make that call tomorrow morning and get the facts. Even if the news isn't great, at least you'll know exactly what you're dealing with and can start making a plan from there. Keep your head up - this is way more common than you think and most people do get through it just fine!

I'm really sorry you're going through this stress - I know exactly how you feel! I had the same 826 code show up on my transcript last year and it was such a shock. Like everyone else has mentioned, that Treasury Offset Program number (800-304-3107) is absolutely your lifeline here. When I called, they immediately told me it was for an old state unemployment overpayment from 2021 that I had completely forgotten about. The relief of finally knowing what was happening was huge! In my case, they took $1,400 out of my $2,200 refund, but I still got the remaining $800 about two weeks later. The hardest part is definitely the waiting and not knowing, but once you get those answers tomorrow, you'll feel so much better. Also, don't beat yourself up about not knowing this debt existed - it happens to more people than you'd think, especially with how different government agencies don't always communicate well with each other. You've got this!