Quick clarification for everyone: Form 8949 is where you list each individual transaction, and then the totals from Form 8949 go onto Schedule D. This is why separating crypto and stock transactions matters - they go on different parts of Form 8949 (usually Part I for stocks held less than a year, Part II for stocks held more than a year, and some crypto might need to go on a separate 8949 with Box C checked). If the 1099-B doesn't have amounts, there's probably a detailed statement included with it that has all the transaction information. Check all pages of what was provided!

Just went through this exact situation last month! One thing that really helped me was looking at the transaction descriptions on Form 8949 more carefully. Crypto transactions often have identifiers like "BTC-USD" or "ETH-USD" in the description field, while stocks will show actual company ticker symbols like "AAPL" or "TSLA". Also, check the dates - if your fiancé was actively trading crypto, those transactions often cluster around certain time periods when he was more active on crypto exchanges. Cross-reference the dates on Form 8949 with his crypto exchange account history to help identify which transactions belong to which category. Another tip: crypto transactions usually have much more decimal places in the quantities compared to stock transactions. Stocks are typically whole numbers or simple decimals, while crypto might show something like 0.00123456 BTC.

This thread has been so helpful! I was making the exact same mistake of thinking about our incomes individually. My husband makes significantly more than I do, and I was worried that his higher salary would somehow put "my" income into a higher bracket. Now I understand that it doesn't work that way at all - the IRS just looks at our total household income when we file jointly. Whether one person makes $90k and the other makes $10k, or we both make $50k each, the tax calculation is exactly the same on that $100k total. I also appreciate everyone explaining the difference between marginal and effective tax rates. I used to think that if we hit the 22% bracket, ALL our income would be taxed at 22%, which made me really nervous about earning more money. Understanding that it's only the dollars above the threshold that get taxed at the higher rate makes so much more sense! One follow-up question though - does this mean that for things like retirement account contribution limits or other income-based thresholds, they also use our combined household income? Or are those calculated individually?

This whole discussion has been incredibly enlightening! I'm relatively new to filing taxes as a married couple, and I was definitely overthinking how the brackets work. What really clicked for me was the "one big pot" analogy someone mentioned - that when you're married filing jointly, you literally combine all your income first and then apply the tax brackets to that total amount. I was getting caught up in trying to figure out which dollars came from which spouse, but that's completely irrelevant to the IRS. I also had the same misconception about marginal vs effective tax rates. I was terrified that crossing into the 22% bracket meant our entire income would be taxed at 22%! Understanding that it's only the income ABOVE the threshold that gets the higher rate makes me feel so much better about potential raises or bonuses. For anyone else who might be confused like I was - the key takeaway is that when you file jointly, the IRS sees you as one household with one combined income, not two separate individuals. Your tax bracket is determined by that total household income, regardless of how much each spouse individually contributes to it. Thanks to everyone who took the time to explain this so clearly!

Small tip from experience - make sure you keep all transportation receipts with notes about business purpose. For the Uber/taxi rides, I write directly on the receipt "transport to/from business speaking engagement" and snap a photo. Same for train tickets - write "business travel for paid speaking engagement" on them before filing. Seems obvious but these little notes saved me during an audit when I had to prove which trips were business vs personal.

Great question! You're absolutely right to think carefully about this allocation. Based on IRS Publication 463, you should go with option 2 - deduct 100% of the sleeper compartment and Uber costs since they would have been exactly the same whether your wife traveled alone or not. The key test is "what would it have cost if only the business traveler went?" Since a private sleeper compartment costs the same for one or two people, and the Uber rides would have been the same price, these are fully deductible business expenses. Just make sure to document everything well - keep the conference invitation showing the business purpose, all receipts, and maybe a brief note explaining why your daughter accompanied her (family visit, etc.) to show the trip wasn't primarily personal. One thing to add to what others mentioned about the hobby loss rule - since this appears to be related to your wife's professional field, even if expenses exceed the $750 honorarium, it's still a legitimate business deduction for a one-time engagement. The IRS only gets concerned about hobby losses when there's a pattern of losses over multiple years in the same activity.

Great question about tax-loss harvesting for UTMAs! One important consideration that hasn't been mentioned yet is the impact on financial aid eligibility. UTMA assets are counted as student assets on the FAFSA at a much higher rate (20%) compared to parent assets (5.64%). While harvesting gains to step up basis is tax-smart, you might also want to consider the timing of when to do this relative to college planning. If your kids are getting close to college age, you may want to weigh the tax benefits against the potential impact on financial aid calculations. Also, make sure you're keeping detailed records of all these transactions. When your children eventually take control of the accounts, having clear documentation of cost basis adjustments will be crucial for their future tax planning.

This is excellent advice about the FAFSA implications! I hadn't considered how the 20% assessment rate on student assets could impact financial aid eligibility. This creates an interesting trade-off between tax optimization and college funding strategy. For families with younger children, the gain harvesting strategy makes perfect sense since you have years to benefit from the stepped-up basis. But as you get closer to college years, it might be worth running the numbers to see if the tax savings outweigh the potential reduction in financial aid. Another timing consideration: if you're planning to gift additional funds to the UTMA accounts, it might make sense to harvest gains first to free up "room" under the $1,250 threshold before adding new money that could generate additional dividends or interest. The record-keeping point is crucial too. I'd recommend creating a simple spreadsheet tracking each sale/repurchase transaction, the gain realized, and the new cost basis. Your kids will thank you for this documentation when they're older!

I had the same issue last year - took almost 3 weeks for mine to show up. The mail system seems really slow with these verification letters. If you're getting anxious about it, definitely call that number Aisha mentioned. Also worth double-checking that your mailing address on file with the IRS matches exactly where you want it sent. Even small differences like "St" vs "Street" can cause delays. Hang in there!

Had to deal with this exact situation a few months ago - the PIN took about 12 business days to arrive for me. One thing that helped speed up the process was making sure I had informed delivery set up through USPS so I could track when mail was coming. Also, when you do call that 800 number, have your SSN and the reference number from your original verification letter ready - it'll save you time on hold. The whole process is frustrating but you're definitely not alone in this!