Just so you know, you might want to look at alternatives to TurboTax too. I used H&R Block Premium last year for a very similar situation (3 rental properties, side business, backdoor Roth) and found it handled everything well for a lower price than TurboTax Self-Employed.

Based on your complex tax situation, you definitely need TurboTax Self-Employed. Here's why: Your rental properties in multiple states require multi-state tax filing capabilities that only Premier/Self-Employed versions handle well. The Self-Employed version is better for this since you also have 1099 consulting income. For your Canadian accounts ($80k CAD retirement + $35k CAD checking/savings = $115k CAD total), you'll need to file FBAR (FinCEN Form 114) since you exceed the $10,000 USD threshold. Self-Employed includes guidance for these foreign account reporting requirements. The backdoor Roth IRAs (both regular and mega) require careful Form 8606 reporting to avoid double taxation, and Self-Employed has better guidance for these transactions. Your Airbnb STR situation using the 14-day rule needs proper reporting to avoid audit flags - Self-Employed handles short-term rental income better than lower tiers. The consulting work from home likely qualifies for home office deductions, which Self-Employed specializes in calculating correctly. Given all these moving parts (multiple income streams, multi-state rentals, foreign accounts, complex retirement contributions), the Self-Employed version will save you more in properly claimed deductions than the extra cost over Premier. The specialized guidance alone is worth it for your situation.

I used Marcus to pay my taxes through TurboTax last year and had a similar experience to what others have mentioned - it took about 4-5 days to process, which was nerve-wracking at first. The payment did go through successfully, but I learned a few things that might help you. First, make sure you have sufficient funds in your account with a little buffer, as Marcus sometimes puts a temporary hold on the full amount while processing. Second, I noticed that Marcus sends email notifications for large transfers like tax payments, so keep an eye on your email for any alerts. If you're really worried about it, you might want to call Marcus customer service and give them a heads up about the upcoming tax payment. When I did this, they noted it on my account which seemed to help with the processing. Their customer service is actually pretty good compared to other online banks. The Electronic Funds Withdrawal option that Zara mentioned is definitely worth considering for next year - I've heard good things about it being more reliable with online banks.

I actually used Marcus through TurboTax for my federal taxes this year and it went smoothly, but I did have one hiccup that might be helpful for you to know about. The payment initially showed as "pending" for about 6 days, which had me pretty worried since most of my other bank transfers with Marcus usually clear in 1-2 days. What I discovered by calling Marcus was that they have additional fraud protection protocols specifically for government payments over certain amounts. If your tax payment is substantial (they didn't give me the exact threshold, but mine was around $3,500), they automatically flag it for manual review which adds a few extra days to processing. The good news is that once it cleared, everything went perfectly and I got confirmation from both TurboTax and the IRS that the payment was received on time. Marcus customer service was actually really helpful when I called - they could see the payment in their system and assured me it would go through, just needed the extra verification time. My advice would be to not panic if you see it sitting in "pending" status for longer than usual. But definitely keep an eye on it and don't hesitate to call Marcus if it's been more than a week with no movement.

This has been a really helpful thread! I've learned so much about asset classifications that I never knew before. As someone who's been doing my own taxes for years, I always just focused on reporting income and deductions without thinking about how the IRS actually classifies the underlying assets. The explanation about bank accounts being intangible because they represent a claim against the bank rather than physical currency really clicked for me. And I appreciate everyone sharing their experiences with different tools and services - it's good to know there are resources out there when the IRS publications get too confusing or when you can't get through on the phone. One follow-up question though: does this classification affect anything for people who have joint bank accounts? Is the intangible asset considered to be owned 50/50 by each person, or does it depend on whose name is listed first or who deposited the money?

This discussion has been really enlightening! I work in financial planning and often get questions about asset classifications from clients. What I find helpful to explain is that the IRS classification system is designed around the legal nature of what you actually own, not just the practical experience. When you have cash in a bank account, you're not actually owning specific dollar bills sitting in a vault with your name on them. You own a contractual right - essentially an IOU from the bank. That's why it's intangible. The bank has commingled your deposit with everyone else's and invested it, lent it out, etc. Your "asset" is really just the bank's legal obligation to pay you back on demand. This is also why FDIC insurance exists - because if the bank fails, your claim is against the FDIC, not against any specific physical money. It's all about the legal structure of ownership rather than what it feels like day-to-day when you're using your debit card or writing checks. For most people filing standard tax returns, this distinction won't directly impact your filing, but understanding it helps explain why certain financial products and accounts are treated differently by the IRS.

Has anyone tried using the Free File Fillable Forms' built-in calculator for the depreciation tables? I'm finding the interface really clunky compared to the spreadsheets my accountant used to provide.

I've been doing my own taxes for about 3 years now after switching from an accountant, and I completely understand your situation! Here are a few practical tips that helped me: For Form 4562, you're right that it's not technically required if you have no new assets, but I'd recommend including it anyway to maintain consistency with your previous filings. It shows the IRS you're continuing to track your depreciation properly and can prevent questions later. One thing that really helped me was creating a simple spreadsheet to track all my existing assets and their remaining depreciation. I pulled this info from my last accountant-prepared return and then just update it each year. This makes filling out Form 4562 much easier. For statements in Free Fillable Forms, I create them as simple text documents that clearly state: "Statement for Form [X], Line [Y]" at the top, followed by my explanation. Keep them concise but detailed enough to justify your position. The IRS just wants to understand your reasoning. You're definitely not overthinking it - being careful on your first DIY return is smart! The transition from accountant to self-filing can be nerve-wracking, but you'll get the hang of it. Take your time and don't hesitate to call the IRS if you have specific questions about your unique situation.

I just wanted to jump in here as someone who received a CP24 notice about 5 weeks ago and can confirm what everyone else is saying - the actual timeline is WAY better than what the IRS tells you! My refund arrived in exactly 16 days, not the 4-6 weeks they quoted. What really struck me reading through this thread is how consistent everyone's experiences have been. Almost everyone is reporting 2-3 weeks instead of the full 6 weeks, and most adjustments seem to be in the taxpayer's favor with additional credits or corrections that increase the refund amount. The CP24 essentially means the IRS already did the hard work of reviewing your entire return and found something they could fix automatically without needing any additional paperwork from you. That's actually great news! In my case, they caught that I had missed the Recovery Rebate Credit, which added an extra $1,400 to my refund. Based on your August 25th letter date and everyone's shared timelines here, I'd expect your money to arrive sometime in the first or second week of September - well ahead of your car repair needs. The waiting is definitely the most stressful part, but the CP24 is actually one of the better IRS notices to receive since it usually means more money is coming your way!

I just wanted to share my recent CP24 experience since it sounds like you're going through the exact same thing I did a few months ago! I received my CP24 notice in early July and was really stressed about the timeline since I also had some urgent expenses coming up. The good news is that my refund actually arrived in just 21 days - much faster than the 4-6 weeks they quoted in the letter. The IRS had found that I qualified for additional education credits that I had completely missed when filing, which increased my refund by about $800. What really helped me was understanding that the CP24 means your return has already been fully reviewed and processed - they're just making a final adjustment. The hard work is already done! I also found that checking "Where's My Refund" with the exact adjusted amount from the CP24 letter (not my original amount) gave me much more accurate status updates. Based on your August 25th letter date and all the positive timelines people are sharing here, you should definitely have your car repair money by early September rather than waiting until October. The CP24 is actually good news - it usually means they found something that benefits you! Try not to stress too much about the timeline, these adjustments typically process much faster than their conservative estimates.