I work as a massage therapist and see a lot of clients who get regular treatments for work-related injuries like yours. From what I've observed with my clients who've successfully deducted these expenses, the key is really about establishing that medical necessity piece. A few things I've noticed that help clients with their documentation: Make sure you're seeing a licensed massage therapist (LMT) rather than someone at a spa - the IRS looks more favorably on treatments from licensed healthcare providers. Also, ask your therapist to note in their records the specific work-related conditions being treated and how the massage therapy addresses those issues. One strategy I've seen work well is to have your first few sessions specifically focused on assessment and treatment planning. A good LMT should be able to document the specific muscle tension patterns, postural issues, and movement restrictions caused by your barbering work, then create a treatment plan showing how regular massage addresses these occupational health issues. This creates a paper trail that goes beyond just "I get massages for back pain" to "I receive therapeutic massage as part of a documented treatment plan for occupational injuries caused by the repetitive motions and sustained postures required in my profession." The documentation piece really can make or break these deductions during an audit, so it's worth investing in that professional relationship with a licensed therapist who understands the tax implications.

As someone who's been through a similar situation with work-related physical therapy deductions, I want to emphasize how important it is to get ahead of this documentation-wise. I made the mistake of trying to claim expenses retroactively without proper medical backing and it became a nightmare during my audit. Here's what I wish I'd known from the start: Even if you're just starting to consider massage therapy, go to your doctor FIRST and get a proper evaluation of your work-related injuries. Have them document how your barbering work is causing these specific musculoskeletal issues. This creates a medical foundation that supports everything else. When they recommend massage therapy (and they likely will for your situation), make sure it's written as a prescription or formal recommendation, not just a casual suggestion. This distinction matters a lot to the IRS. Also, consider seeing if your state has any workers' compensation or occupational health resources that might help cover some of these costs. Some states have programs specifically for repetitive stress injuries in service professions like barbering. Even if they don't cover massage directly, having official recognition of your condition through these programs can strengthen your tax case. The $2,000+ annual cost is significant enough that it's worth spending a little time and money upfront to document everything properly rather than risk having to pay it all back with penalties later. Trust me on this one - I learned the hard way!

Does anyone know if I can still contribute to an IRA for 2024 at this point to reduce my tax bill? Or is that deadline passed too?

Don't panic! You're actually in a pretty good position since you mentioned you'll likely get a refund. Here's what you need to do: 1. **File ASAP using regular 2024 tax forms** - no special "late" forms needed 2. **No penalties if you're getting a refund** - the IRS only penalizes when you owe them money 3. **You have until April 2027** to claim your 2024 refund, so while late, you're not in danger of losing it For your situation with all the life changes (divorce, moves, job change), make sure you have: - All W-2s from your various employers in 2024 - Any 1099s if you had contract work - Documentation of moving expenses if they're deductible - Divorce-related tax document changes The IRS is surprisingly understanding about life circumstances causing late filing when refunds are involved. Just file normally and you'll get your refund, though it will take longer to process than if you'd filed on time. The most important thing is to not put it off any longer!

Welcome to the community! This has been such a valuable thread to read through as someone who's also navigating forex tax complexities for the first time. To answer your question about currency conversion for international transactions - the Section 1256 election specifically applies to your trading gains and losses from forex contracts, not to incidental currency conversions from regular international transactions (like business expenses or personal purchases abroad). Those types of conversions typically still fall under general Section 988 rules regardless of your trading election. However, the line can get blurry if you're doing frequent international business transactions alongside your trading activity. This is actually another great reason to speak with an IRS agent through that Claimyr service mentioned earlier - they can help clarify how to properly separate your trading activity from other foreign currency transactions. One additional tip I'd add from my own research: when you do make your Section 1256 election for 2025, consider also documenting your trading strategy and typical holding periods in that internal memo. Some tax professionals recommend this to help establish that your election is consistent with your actual trading approach, which can be helpful if you're ever questioned about the appropriateness of the election. The level of detail and real-world experience shared in this thread has been incredible - definitely saving this post for future reference!

As a tax professional who specializes in trader taxation, I wanted to jump in and clarify a few important points that have come up in this excellent discussion. First, regarding the Section 1256 election timing - while it's true you generally need to make the election before January 1st or before beginning trading, there's actually a lesser-known provision that allows you to make the election up until the original due date of your return (without extensions) for the first year you engage in forex trading. This could potentially help some newcomers who weren't aware of the election requirement. Second, I want to emphasize the importance of the "trader tax status" determination alongside your 988/1256 election. If you qualify for trader tax status (which requires substantial, regular, and continuous trading activity), you get additional benefits like deducting trading expenses above the line and potentially qualifying for the mark-to-market election under Section 475. The combination of trader status + Section 1256 election can be incredibly powerful for active forex traders. But qualifying for trader status requires meeting specific IRS criteria about the scope and frequency of your trading activity. For those using the AI tools and IRS callback services mentioned here, make sure to also ask about trader status qualification - it's a separate but related consideration that could significantly impact your tax strategy. The documentation requirements are strict, so proper record-keeping from day one is essential. Keep up the great discussion - this is exactly the kind of detailed tax planning that can save traders thousands of dollars!

Has anyone used TurboTax to file with a Schedule SE? I'm in the same boat with the line 7/8 confusion and wondering if it handles all this automatically or if I need to understand it to input things correctly.

I had the exact same confusion when I started my freelance writing business! The $147k on line 7 threw me off completely - I thought it was somehow related to my actual income too. What really helped me understand it was thinking of it this way: the IRS sets a yearly limit on how much income gets hit with Social Security tax. For 2024, that limit was $147,000. So line 7 is just showing you what that limit is for the tax year. Line 8 is where you put your regular job wages that already had Social Security tax taken out. This prevents you from paying Social Security tax twice if your combined W-2 and self-employment income goes over that $147k limit. Since you mentioned you have a weekend photography gig, you probably also have a regular job. Make sure to put those W-2 wages on line 8 - it could save you money on your self-employment tax calculation!

I've been dealing with similar issues with Robinhood's options wash sale reporting. One thing that helped me understand the problem better was pulling my own trade history and manually calculating what should and shouldn't be wash sales based on the IRS criteria. For options, the key factors are: same underlying stock, same strike price, AND same expiration date. If any of these differ, there's a strong argument that they're not "substantially identical." However, Robinhood's system seems to flag anything with the same underlying as a potential wash sale, which is overly broad. In your PYPL case, if you never repurchased options with identical terms within the 30-day window, those definitely shouldn't be wash sales. The $0.00 profit/loss display is almost certainly a system glitch - I've seen this happen when their automated calculations get confused by expired contracts. My advice: Document everything with specific transaction dates and contract details. When you contact support, reference the specific IRS Publication 550 language about "substantially identical securities" and ask them to review each flagged transaction individually rather than relying on their automated system. It's frustrating, but the squeaky wheel gets the grease with Robinhood. Keep escalating until you reach someone who actually understands options taxation rather than just reading from a script.

I've been following this thread closely as I'm dealing with a similar situation. Just wanted to add another perspective on the "substantially identical" issue that might help others. I had a case last year where I was trading AAPL options - sold some $150 calls expiring in March at a loss, then bought $155 calls expiring in April within the wash sale period. Robinhood flagged this as a wash sale, but when I challenged it, they eventually agreed it shouldn't have been flagged since both the strike price AND expiration date were different. The key insight I learned from my tax attorney is that the IRS applies the "substantially identical" test very strictly for options. Even a $5 difference in strike price or one day difference in expiration is enough to make them NOT substantially identical. This is different from stocks where small differences might still be considered substantially identical. What really helped me was creating a simple table showing: - Original contract: Underlying, Strike, Expiration, Sale Date - Replacement contract: Underlying, Strike, Expiration, Purchase Date - Days between transactions - Why they're NOT substantially identical This visual format made it much easier for Robinhood's tax team to understand why their automated system was wrong. I'd recommend anyone dealing with this issue to document it the same way - it really cuts through the confusion and gives them something concrete to work with. For what it's worth, after getting my corrected 1099, my additional deductible losses were about $8,400. Definitely worth the effort to fight these incorrect wash sale designations.