Your W-2 should absolutely show 2023 at the bottom! I was confused about this same thing when I started filing my own taxes. The year on your W-2 always corresponds to the tax year being reported, not when you actually receive the document. Since you're filing your 2023 tax return (which happens in 2024), your W-2 needs to show 2023 because it's documenting the income you earned and taxes withheld during the 2023 calendar year. Your employer was required to get this form to you by January 31, 2024, but it's still reporting 2023 data. If your W-2 shows 2024 instead, that's definitely an error - you can't have a complete W-2 for 2024 since the year isn't over yet! You'd need to contact your employer for a corrected form before filing. A quick verification tip: check that the wage amounts in Box 1 match roughly what you remember earning throughout 2023. If the numbers seem right for last year's work, then you're all set to proceed with your tax software. Don't feel silly about double-checking this - it's actually really smart to verify everything before you start the filing process!

Your W-2 should definitely show 2023 at the bottom! This is one of those things that seems confusing at first but makes total sense once you understand the logic. The year on your W-2 represents the tax year being reported - so since you're filing your 2023 taxes, you need a W-2 that shows 2023, even though you received it in 2024. Think of it this way: your W-2 is essentially a summary report of what happened between you and your employer during the entire 2023 calendar year. Your employer had until January 31, 2024 to get it to you, but it's still documenting 2023 earnings and withholdings. If your W-2 shows 2024 at the bottom, that would actually be impossible since 2024 isn't complete yet - there's no way to have a full year's worth of earnings data for a year that's still in progress! A good way to double-check you have the right form is to compare the wages in Box 1 with what you remember earning throughout 2023. If those numbers align with your expectations from last year, you're good to go with your tax software. This is actually a really smart question to ask before starting your return!

Has anyone dealt with Form 8854 (Expatriation Statement) in this kind of situation? I think that's required when surrendering a green card if you've had it for a certain period.

This is definitely a complex situation that requires careful consideration of multiple factors. Based on what you've described, your wife likely still qualifies as a U.S. tax resident under the substantial presence test since she's in the U.S. for about 9 months (270+ days) per year. Here are the key points to consider: 1. **Substantial Presence Test**: With 270+ days in the U.S., your wife likely meets this test and would be considered a U.S. tax resident for tax purposes, regardless of surrendering her green card. 2. **Filing Status**: If she's considered a tax resident, you can continue filing jointly as before, and her worldwide income (including the foreign rental income) would need to be reported on your U.S. tax return. 3. **Foreign Tax Credits**: If she's paying taxes on the rental income in her home country, you may be able to claim foreign tax credits on Form 1116 to avoid double taxation. 4. **Additional Considerations**: - Check if there's a tax treaty between the U.S. and her home country that might provide beneficial treatment for rental income - If she has foreign bank accounts totaling over $10,000, don't forget about FBAR requirements - Depending on when and how long she held the green card, Form 8854 might be required Given the complexity of international tax situations like this, I'd strongly recommend consulting with a tax professional who specializes in expatriate taxation, at least for this first year under the new circumstances.

Hey Cameron! Don't worry, you're definitely not alone in being confused by this - tax forms can be really counterintuitive, especially when you're doing them for the first time. A negative number on line 37 is actually completely normal and correct! It means you don't owe any taxes - instead, the government owes YOU money (your refund). Think of it this way: throughout the year, your employer withheld taxes from your paychecks based on estimates. When you file your return, you're calculating exactly how much tax you actually owe. If the amount withheld was more than what you actually owe, you get the difference back as a refund. The negative number on line 37 is just the form's way of showing this mathematically. Your tax software is handling this correctly by showing it as a refund amount. Just make sure to fill out the direct deposit information if you want your refund deposited directly to your bank account - it's much faster than waiting for a paper check! You're doing great by double-checking everything and asking questions. That's exactly what you should be doing with taxes!

This is such a common source of confusion for first-time filers! You're absolutely right to double-check everything - that shows you're being responsible about your taxes. Just to add to what others have said, the negative number on line 37 is the IRS's way of showing that instead of you owing them money, they owe you money. It's like when you overpay for something at a store and get change back, except in this case your employer "overpaid" the IRS throughout the year on your behalf through payroll withholdings. One tip for future years: if you consistently get large refunds, you might want to adjust your W-4 form with your employer to have less tax withheld from each paycheck. That way you'll have more money in your pocket throughout the year instead of giving the government an interest-free loan. But for now, just enjoy getting that refund! You're doing everything right by using tax software and verifying the numbers. The fact that both your manual calculations and the software show the same result is a good sign that everything is correct.

One thing to consider is whether your brother and sister-in-law are claiming any home office or rental deductions for the basement on their taxes. If they're claiming depreciation or expenses for that space as a rental property, it actually strengthens your case for HOH because it establishes the basement as a separate rental unit. You might want to talk to them about how they're planning to handle the rental income they receive from you on their taxes. This affects both of you - they need to report the income, but it also helps confirm your status as a renter maintaining your own household.

I went through a very similar situation when I moved into my sister's converted garage apartment with my two kids. The key thing that helped me qualify for HOH was establishing that we truly had separate households, even though we were on the same property. Here's what worked for me: - We had our own entrance (important!) - I paid a fixed monthly amount that covered utilities for our space - I bought all groceries and household items for my kids and myself - We had our own kitchen and bathroom facilities The IRS considers you to be "keeping up a home" when you pay more than half the costs of your household. Since you'll be paying rent that covers your portion of the mortgage plus presumably handling your own food, personal expenses, and care for your daughter, you should meet this requirement. Just make sure to keep detailed records of all your payments and expenses. I kept a simple spreadsheet tracking my rent payments, grocery receipts, and any other costs for our living space. Having that documentation gave me confidence when filing and would be helpful if there were ever any questions. The separate entrance you mentioned is actually a big plus - it really helps establish that you're maintaining an independent household rather than just contributing to a shared family home.

Has anyone used an electric vehicle for business? I'm considering getting a Chevy Bolt for my business, and I'm wondering if there are additional tax benefits beyond the regular vehicle deductions. From what I understand, there's still the $7,500 tax credit for some EVs, but I'm not sure how that interacts with business use deductions.

Great thread everyone! As someone who just went through this process with my marketing consultancy, I wanted to add a few practical tips that helped me maximize my deduction for my Subaru Outback (definitely under 6,000 lbs). First, start tracking your mileage NOW if you haven't already - even if you're still shopping for the vehicle. Use a smartphone app or simple logbook to record business trips. The IRS expects contemporaneous records, not reconstructed logs. Second, consider your long-term business plans. If you expect your business mileage to increase significantly, the standard mileage rate might be better. If your mileage will stay consistent but you're buying a more expensive vehicle, actual expenses could work better. Finally, don't overlook the home office deduction connection. If you have a qualifying home office, trips from your home office to client meetings are fully deductible business miles. This can really add up over the year and make either deduction method more valuable. The key is running the numbers for YOUR specific situation rather than following general rules. Every business is different!