Does anyone know what the different cycle codes mean? Mine says 20240505 but idk what that means for my refund date

PSA: If you're trying to figure out exactly when youll get paid and what your transcript means, use taxr.ai - its an AI tool that analyzes everything and gives you a clear timeline. Sure beats trying to piece together info from reddit posts lol. Its only $1 too

Just FYI for everyone dealing with Section 1256 contracts with zero values - I called the IRS directly about this last year. They confirmed that even with zero values, you should still report these on Form 6781 since the 1099-B was issued. The IRS agent explained it's important because their matching system will look for this form since they received the 1099-B copy. Omitting it could potentially trigger a notice even though there's no tax impact.

I ran into this exact same issue with my Schwab 1099-B supplemental form showing Section 1256 contracts! What worked for me was switching to TaxAct which has better support for Form 6781 than HRBlock's online version. Even though your values are all zeros, you definitely need to report this since the IRS received a copy of your 1099-B. I learned this the hard way when I initially skipped it and got a notice asking about the missing form. In TaxAct, look for "Investment Income and Expenses" then select "Other Investment Income" and you'll find the Section 1256 option. It walks you through entering the values from boxes 8-11 of your supplemental 1099-B. Since everything is zero for you, it should be straightforward once you find the right form. If you want to stick with HRBlock, you'll likely need their desktop software or to work with a tax professional since their online version doesn't handle specialized investment forms very well.

Just to add to what others have shared - you might want to file Form 4506-T to request wage and income transcripts from the IRS. This won't give you the K1 directly, but it will show what's been reported under your SSN, which might help you identify if the partnership has actually filed and just not distributed your copy.

I've been following this thread and wanted to share another angle that might help. If you're dealing with a consistently unresponsive managing partner, you might also consider reaching out to your state's Secretary of State office or equivalent business registration authority. Many partnerships are required to maintain current contact information and registered agents with the state. If your managing partner is deliberately withholding financial information that you're entitled to as a partner, this could potentially violate state partnership laws or the terms under which the business is registered. Additionally, if this is a limited partnership, there may be specific fiduciary duties that the general partner owes to limited partners regarding timely financial reporting. Some states have penalties for partnerships that fail to provide required financial information to partners. I'd also suggest keeping detailed records of all your attempts to get the K1 - dates, methods of contact, any responses (or lack thereof). This documentation could be crucial if you need to pursue legal remedies or if the IRS asks about your good faith efforts to obtain the information.

Couple things to add from my experience with NSOs: 1) Consider the risk! You're putting real money into a private company that might never go public or get acquired. I exercised options at a startup that later failed - lost $15k and still had to pay taxes on phantom income. 2) If you wait till after IPO, there's usually a 180-day lockup period where you can't sell shares even though they're public. Market could tank during that time. 3) Ask if your company offers early exercise with 83(b) election - lets you exercise unvested options and starts your capital gains clock earlier. 4) Don't forget state taxes! California especially kills you on this stuff. 5) Some companies have programs to help with exercise costs or cashless exercises. Worth asking about.

This is exactly the kind of situation where having all the right information upfront makes a huge difference. Based on your numbers (7,250 total options with those strike prices vs $5.93 FMV), you're looking at roughly $36k in taxable income if you exercise everything at once - that's a significant tax bill to plan for. A few practical considerations for your timeline: 1) Get clarity on your vesting schedule and any acceleration clauses that might trigger at IPO. Sometimes unvested options accelerate when companies go public. 2) Find out your company's IPO timeline. If it's 6+ months away, you might have time to exercise in stages across tax years to manage the tax hit. 3) Ask your company about any employee programs they offer - stock loan programs, cashless exercise options, or even tax gross-up assistance (some companies help cover the tax burden). 4) Consider your personal financial situation. Can you afford both the exercise cost (~$4,600 total) AND the tax bill on ~$36k of ordinary income? Don't put yourself in financial hardship for equity that's still speculative. The fact that your current tax advisor seems out of their depth is concerning. This really calls for someone with specific equity compensation experience, whether that's a specialized CPA or getting direct guidance from the IRS on proper reporting requirements.

Has anyone had their FSA administrator reject expenses during an audit because the provider didn't have a tax ID? I'm in a similar situation with a small home daycare and worried my company might make me pay back the FSA money if they audit and find out the provider wasn't properly registered.

I went through almost the exact same situation two years ago with a home daycare that suddenly shut down. What really helped me was keeping a detailed timeline of everything - when I paid, when they closed, when I tried to contact them, etc. One thing I'd add to the great advice already given: check with your state's licensing board for childcare providers. Even if the daycare was operating without proper licensing, they might have records or complaints filed that could help you track down the owner's information. In my case, I found out through the state board that several parents had filed complaints when the daycare closed, and they actually had the owner's SSN on file from a previous licensing attempt. Also, don't stress too much about the FSA side of things. Your FSA administrator approved the reimbursement based on valid receipts for childcare expenses. The fact that the provider may have had licensing issues doesn't retroactively make your childcare expenses ineligible. You legitimately paid for childcare so you could work - that's what matters for FSA purposes. Just make sure to document everything thoroughly and you should be fine on both the FSA and tax filing fronts!