I've been dealing with IRS transcript issues for years and this is totally normal! The IRS has multiple separate systems that barely communicate with each other - it's like they're running on technology from the stone age. Your Account transcript pulls from one database, your Wage & Income transcript from another, and sometimes they just don't sync up properly. Since you accurately reported all your income and the totals match what you filed, you've done everything correctly from a legal standpoint. That missing W2 will probably show up eventually (mine took 7 months last year!), but even if it doesn't, you're covered because you have the physical copy and reported it properly. The blank Wage & Income transcript is also super common - mine stays blank until late summer every year. It's frustrating but unfortunately just how their antiquated systems work. Keep that physical W2 copy safe and try not to stress about their technical problems!

This is such a common issue and you're absolutely right to not panic! I went through the exact same thing last year - had 4 W2s but only 3 showed up on my transcript for months. I was convinced I was going to get audited or something terrible would happen. The reality is the IRS computer systems are incredibly outdated and different databases don't communicate with each other properly. Your Account transcript, Wage & Income transcript, and other systems all pull from separate sources that update at completely different speeds. What matters most is that you accurately reported all your income on your return (which you clearly did since your totals match up), and that you keep your physical copy of that W2. You've fulfilled your legal obligation by reporting everything correctly. My missing W2 eventually appeared about 8 months later, but my refund processed normally way before that and I never heard anything from the IRS about it. The fact that your Wage & Income transcript is completely blank is also totally normal - mine stayed blank until September! Keep that physical W2 safe and try not to stress about their technical problems. This is just standard IRS system dysfunction, not an issue with your filing.

Has anyone tried using TurboTax for calculating their home office deduction? I'm self-employed and work out of my garage (converted it to an office) and I'm trying to decide if I need special software or if the mainstream tax programs handle this ok?

I've been using TurboTax Self-Employed for my home office deduction for the past two years and it's been really straightforward. The software walks you through everything step-by-step, including helping you measure your space and calculate the percentage of your home used for business. One thing I really appreciated is that it automatically calculates both the simplified method ($5 per square foot) and the regular method (percentage of actual home expenses) and shows you which one gives you the bigger deduction. For my 150 square foot home office, the simplified method actually worked out better. The software also has a good section on documentation - it reminds you to keep receipts for things like office supplies, equipment, and your portion of utilities. Just make sure you have all your home expenses handy (mortgage interest, property taxes, utilities, etc.) before you start if you want to compare both methods.

Its such bs that they dont tell us this stuff upfront. Been waiting 4 months here

Been dealing with this exact same issue! Filed in February with Schedule H for my nanny and got caught in this verification mess. What worked for me was calling the dedicated Schedule H line (different from regular customer service) and they walked me through exactly what docs to send. Also keep calling back if you get conflicting info - some reps are way more knowledgeable than others. Hang in there!

While everyone's focused on the deduction part, don't forget about the 50% limitation on business meals! Even though you can deduct the amount you actually paid ($80), remember that business meal expenses are generally only 50% deductible. So you'd only get to deduct $40 of that $80 expense in most cases.

Great question about gift card deductions! Just to add one more important point that hasn't been mentioned yet - make sure you're clear on what constitutes a legitimate "business meal" in the first place. The IRS is pretty specific that business meals must be ordinary and necessary for your business, and there needs to be a clear business purpose. Employee meetings definitely qualify, but you'll want to document WHO attended each meeting and WHAT was discussed (even briefly). For example, instead of just noting "employee meeting," write something like "Monthly team meeting - discussed Q2 goals and project deadlines, 5 employees present." This level of detail helps establish the business purpose if you're ever audited, especially since you're dealing with an unconventional payment method (gift cards) that might raise questions. Also worth noting - if these are regular recurring employee meals (like every Friday pizza), make sure they're not so frequent that the IRS could view them as a form of compensation rather than legitimate business expenses!

Just wanted to add another perspective here - I went through a similar visa transition (F-2 to F-1) a couple years ago. One thing that really helped me was getting a copy of my complete I-94 travel history from the CBP website before trying to figure out my residency status. The substantial presence test calculations can get really complex with visa changes, especially when you're trying to figure out which days count as "exempt" vs "non-exempt." Having the exact entry/exit dates made it much easier to work through the math. Also, since you mentioned you've been here since December 2019, you're probably still within the 5-year exempt period for F-1 students (which started when you switched to F-1 in March 2024). But the F-2 time might have different rules depending on your spouse's/parent's visa status during that period. Given the amount of money you're planning to invest, it's probably worth getting professional advice from a tax attorney or CPA who specializes in international tax issues. The wrong classification could cost you way more in taxes than the consultation fee, especially with the dividend withholding differences others mentioned.

This is such a complex topic! I've been following this thread as someone who went through a similar situation (H-4 to F-1 transition). One thing I want to emphasize is that even though several people have mentioned helpful tools and services, the IRS Publication 519 is actually your best free resource for understanding the substantial presence test and exempt individual rules. It has specific examples for different visa transitions that might apply to your F-2 to F-1 situation. Also, since you mentioned setting up a trading account, make sure to ask your brokerage specifically about their process for updating your tax status if it changes in the future. I had to update mine mid-year when my exemption period ended, and some brokers handle this transition better than others. Given that you've been here since 2019 and just switched to F-1 in March 2024, you're likely still in exempt status for now, but it's worth planning ahead for when that might change. The tax implications for your investment strategy could be quite different depending on your residency status, especially with the dividend withholding rates others mentioned. Good luck with your investments!