Has anyone considered that these "Other taxes" might actually be something you can deduct elsewhere? Like if they include fire or flood protection services, sometimes those can be deductible as part of home office expenses if you have one.

I just went through this exact situation with my 2024 taxes! After reading through all these responses, I ended up calling my mortgage company directly to get a detailed breakdown of what was included in the "Other taxes" section of my Form 1098. Turns out mine included a mix of things: actual city taxes that were deductible ($2,400), special assessments for street improvements that weren't deductible ($1,800), and HOA fees that somehow got lumped in there ($900). The mortgage company was able to send me a detailed statement showing exactly what each payment covered. I'd recommend starting there - call your mortgage servicer and ask for a breakdown. Most of them can provide this pretty quickly. It saved me from having to guess or potentially make costly mistakes. Once you know what's what, you can decide whether you need additional help from the tools others mentioned or if you can handle it within TaxAct's interface. Also keeping all this documentation in case of future questions - learned that lesson the hard way from a different tax issue a few years back!

Mines been doing the same thing since March. Starting to think we're never getting our money back fr fr

what codes do u see on ur transcript? that matters more than the as of date tbh

Don't beat yourself up too much about this - it happens to more people than you'd think! I went through something similar a couple years ago and it all worked out fine in the end. One thing I'd add to the great advice already given: when you mail your 2023 return, consider including a cover letter explaining that this is a late filing for tax year 2023. It can help the IRS processors route it correctly and understand why it's being filed now. Also, make copies of everything before you send it - keep a complete record of what you submitted and when. For your 2024 return, once it's accepted (which it should be with the $0 AGI), you can actually check the status of both returns separately on the IRS "Where's My Refund" tool. Your 2024 refund will likely come much faster since it was e-filed, while the 2023 refund will take longer due to paper processing. The good news is that $4,180 total in refunds is definitely worth the hassle of sorting this out! And you're well within the 3-year window for claiming your 2023 refund, so no money is lost. Just be patient with the process - the IRS is slow but they'll get it sorted eventually.

I went through this exact same situation two years ago and can confirm everything will work out! The key thing is not to panic - you're handling this correctly by filing the 2023 return by mail and using $0 as your prior year AGI for the 2024 e-file. One thing that really helped me was setting up an IRS online account at irs.gov so I could monitor both returns. Once your 2024 return is processed, you'll see it there, and eventually your 2023 return will show up too once they process the paper filing. This way you can track everything in one place instead of wondering what's happening. Also, don't worry about the American Opportunity Tax Credit - as long as you meet all the eligibility requirements for 2024, your late 2023 filing won't affect it. The IRS looks at each tax year independently for most credits and deductions. The hardest part is just the waiting, especially for that paper return. But you're definitely not the first person to miss a filing deadline, and the IRS deals with this situation regularly. Stay organized with your documentation and you'll get through this just fine!

Capital One user here for about 3 years. They're solid for refunds - usually process them within hours of IRS releasing, sometimes even faster than the big banks. One tip: make sure you have notifications turned on in their app so you know right away when it hits. Also double-check that your account type matches what you put on your tax return (checking vs savings). Good luck with your refund!

Capital One has been great for my tax refunds! I've used them for the past 2 years and they typically process IRS deposits same day or within 24 hours of release. Way faster than my old bank (Bank of America) which used to hold deposits for 2-3 business days. Just make sure your direct deposit info is exactly right - account number, routing number, and account type. You can double check everything in the Capital One app under account details. Once it hits, you'll get an instant notification. You made a good choice switching from Wells Fargo!

Has anyone ever successfully used Form 8082 to take a position contrary to their K-1? My CPA says I should just go with what the partnership reports and not try to recharacterize anything on my personal return.

Your instincts are absolutely correct to question this approach. The self-rental rule is pretty clear - when you rent property to a business you materially participate in, that rental income becomes non-passive regardless of other elections or designations. This is codified in Reg. 1.469-2(f)(6) and is designed to prevent exactly what your CPA is suggesting. The Real Estate Professional safe harbor (Section 469(c)(7)) can help recharacterize your residential rental losses from passive to non-passive if you meet the 750-hour test and materially participate. However, this doesn't change the fact that your LLC #2 income from renting to LLC #1 is already non-passive due to the self-rental rules. Here's the key issue: even if both activities end up being non-passive, you still need to consider whether they can be properly grouped together under the activity grouping rules. The IRS looks at factors like geographical location, interdependence, and whether they form an "appropriate economic unit." Your CPA's immediate suggestion to file an extension when questioned is a red flag. A competent tax professional should be able to explain their reasoning clearly, especially on something as fundamental as passive activity loss rules. I'd strongly recommend getting a second opinion from a CPA who specializes in real estate taxation before proceeding with this strategy.