Check ur mail like a hawk. I missed my notice and had to request a copy which added another 3 weeks to my wait smh

Ugh I feel your pain! Been stuck on 570 for about 5 weeks now and it's driving me absolutely crazy. I've tried calling the IRS like 20 times but can never get through to a human - just that automated message saying they're too busy. I saw a bunch of people mentioning taxr.ai in the comments and honestly thinking about trying it at this point. For $4.99 it seems worth it just to get some peace of mind about what's actually going on with my return. Better than sitting here refreshing WMR every hour like some kind of maniac 😅 Has anyone here actually had their 570 clear recently? Starting to wonder if this is gonna drag on for months...

Does anyone know if u need to set this up differently for different accounting software programs? Im using Xero and it just asks me to set up "tax rates" without this recoverable/non-recoverable distinction. So confused!!!

This is such a common confusion point for new business owners! You're absolutely right that US sales taxes are generally non-recoverable, unlike VAT systems. When setting up QuickBooks or any accounting software for a US business, you should select "non-recoverable" for sales taxes. The key thing to remember is that in the US, you collect sales tax from your customers and remit it to the state, but any sales tax you pay on your own business purchases becomes part of your cost of goods sold or business expenses. You can't offset what you pay against what you collect like you can with VAT. For your e-commerce business, make sure you're also registered for sales tax collection in states where you have nexus (physical or economic presence). Each state has different thresholds and rules. And don't forget - while the sales tax you pay isn't "recoverable" through the sales tax system, it is deductible as a business expense on your income tax return, which still provides some tax benefit. Good luck with your new business setup!

This is so helpful to read! I filed on 2/8, did my identity verification on 2/20, and I'm still waiting for any movement on my transcript. It's been almost a month since filing and I was starting to worry something was wrong. Seeing everyone's timelines here gives me hope that I should see my 570 code appear soon - it looks like there's usually a 2-3 week gap between verification and the code showing up. The pattern of getting the DDD 3-4 days before the 570 date seems really consistent across everyone's experiences. I've already started checking my transcript daily in anticipation! 😅 Happy early birthday btw - what perfect timing that would be if your refund hits right around then! This community has been such a lifesaver for understanding what to expect during this whole process.

I'm in almost the exact same situation! Filed on 2/9, completed identity verification on 2/23, and just saw my 570 code appear yesterday dated 3/26. Reading through everyone's experiences here is incredibly reassuring - the consistent pattern of receiving the DDD 3-4 days before the 570 date gives me so much hope that we're all in the final stretch now! I've definitely become an obsessive transcript checker too 😅 - there's something oddly comforting knowing I'm not the only one refreshing that page multiple times a day. The birthday timing would be absolutely perfect! Based on all the shared timelines here, it really seems like once you complete identity verification and see that 570 code, you're basically just waiting for the system to catch up. I'm cautiously optimistic we'll all see our 846 codes within the next few days. This community has been such a lifesaver for understanding what these codes actually mean and managing the stress of waiting. Thanks for sharing your timeline - it's so helpful to see we're all moving through this process together!

Excellent discussion on suspended passive losses! As someone who's been managing rental properties for over 15 years, I wanted to add a few practical points that might help with your planning. First, @Jason Brewer, your math looks solid on the depreciation calculations. Just make sure you're factoring in any potential bonus depreciation on qualifying property improvements when you convert - this could accelerate some of your deductions in the first year. Regarding the interplay with Section 1031 exchanges that @Luca Romano mentioned - this is where things get really interesting. In a like-kind exchange, your suspended passive losses don't get triggered because you're not "disposing" of the activity - you're continuing it with replacement property. The suspended losses carry forward to the new property along with your exchanged basis. However, if you do a partial exchange (where you receive some cash "boot" in addition to the replacement property), that boot portion is taxable and can trigger use of your suspended losses proportionally. One strategy I've used successfully is to accumulate suspended losses for several years, then do a strategic partial exchange where I take out some cash to reinvest elsewhere while still deferring most of the gain. This allows me to use some suspended losses while maintaining the rental activity for continued tax benefits. Also worth noting - if you ever decide to move back into the rental property as your primary residence (within certain time limits), there are special rules that could affect both your suspended losses and capital gains exclusion eligibility. Something to keep in mind for long-term planning. The key is keeping meticulous records from day one. I use a simple spreadsheet tracking annual suspended losses, property improvements, and depreciation taken - makes everything much easier come sale time!

This has been such an informative thread! As someone who's been considering converting my primary residence to a rental, I'm grateful for all the detailed explanations about suspended passive losses and their treatment upon sale. I have a follow-up question about documentation that I haven't seen addressed: What specific records should I be keeping each year to substantiate my suspended passive losses? I understand Form 8582 is key, but are there other supporting documents the IRS would want to see if they ever audited the suspended loss carryforwards years down the road? Also, for those who mentioned using tax software - has anyone found particular software packages that handle rental property passive loss tracking better than others? I want to make sure I'm using something reliable that won't miss the carryforward calculations like some people have experienced. One more consideration I'm wondering about: If I have other investments that generate passive income (like certain partnerships or S-corp distributions), would it make sense to try to generate more passive income to use up my suspended losses earlier rather than waiting until sale? Or is it generally better to let them accumulate for the eventual sale when they can offset any type of income? Thanks again to everyone who's shared their experiences - this is exactly the kind of practical guidance that's so hard to find elsewhere!

This is such a smart approach to learning taxes! I wish I had been this proactive when I started filing. One resource I haven't seen mentioned yet is the **IRS Interactive Tax Assistant (ITA)** on their website. It's like a decision tree that walks you through tax questions with yes/no answers and gives you personalized guidance based on your situation. Really helpful for understanding what applies to you specifically. Also, since you mentioned wanting to understand deductions and credits, try looking up **Publication 17** (Your Federal Income Tax) on the IRS website. I know it sounds boring, but it's actually written in pretty plain English and covers all the common scenarios. You can search for specific topics like "student loan interest" or "standard deduction" to get official explanations. Another practice idea: grab a tax scenario worksheet online (lots of accounting teachers post these) and work through it manually before using software. It really helps you understand the math behind what the apps are doing automatically. You're going to feel so much more confident come tax season! Taking control of your finances at 22 is going to pay off big time in the long run.

Another excellent practice resource is the **AARP Tax-Aide program materials**. Even though it's designed for seniors, they have some of the best beginner-friendly explanations of tax concepts I've ever seen. You can find their training presentations online, and they break down complex topics like itemizing vs standard deduction in really clear terms. For hands-on practice, I'd also suggest checking out your local library - many have tax prep software available for free use, and librarians are surprisingly knowledgeable about tax resources. Some libraries even offer basic tax workshops in January/February. One thing that really helped me was creating "tax scenarios" for friends and family members (with their permission) - like "what if my sister had moved states mid-year" or "what if my dad had started a side business." Working through hypothetical situations with the practice software helped me understand edge cases I never would have thought of with just my own simple situation. The fact that you're starting this learning process now instead of panicking in March shows incredible maturity. You're going to save yourself so much stress and probably money too by catching deductions you might have missed otherwise!