Has anyone used TurboTax for reporting foreign property sales? Is it capable of handling these complex situations or should I just hire a CPA? Worried about missing something important.

I went through a very similar situation when my family sold property in the Philippines last year. One thing I wish someone had told me earlier is to get all your property documents organized and translated (if needed) well before you start the tax filing process. The biggest surprise was learning about the FBAR (Foreign Bank Account Report) requirements. Since the sale proceeds sat in a foreign account temporarily while we arranged the transfer, we had to file FinCEN Form 114 because the account balance exceeded $10,000 at any point during the year. This is completely separate from your tax return and has its own filing deadline. Also, make sure to keep detailed records of all transaction costs, legal fees, and transfer fees - these can often be added to your basis or deducted as selling expenses, which reduces your taxable gain. With a $200-250k sale, even small percentage savings can add up to significant dollar amounts. One last tip: if your parents are planning to become US tax residents soon, consider consulting with an Enrolled Agent who specializes in international taxation. The timing of the sale relative to their residency status could have major tax implications, and it's worth getting professional advice upfront rather than trying to fix issues later.

I'm dealing with the exact same frustrating delays! Filed my NJ return on February 5th and I'm now at the 9+ week mark with still just "processing" status. What's particularly maddening is that my return is incredibly straightforward - single W-2, no dependents, standard deduction only. I actually had some success with a hybrid approach based on what others have shared here. First, I started tracking the timestamp updates like @Amara Chukwu suggested - mine updates every 2-3 days which at least confirms there's backend activity. Second, I contacted my assemblyman's office (Assemblywoman Verlina Reynolds-Jackson's constituent services) and they confirmed they're getting flooded with similar complaints and are compiling a formal inquiry to the Division of Taxation. The most helpful information I got was from a tax professional friend who mentioned that NJ is apparently prioritizing returns in batches by filing date ranges, not individual processing. So if you filed in mid-to-late February, you might all see movement around the same time rather than randomly. For anyone still waiting - I've mentally prepared for the full 10-12 week timeline at this point. It's ridiculous that we have to become detective sleuths just to get basic information about our own refunds, but the collective action approach seems to be our best bet for getting real answers. Hang in there everyone! 💪

I'm experiencing the exact same delays with my NJ refund! Filed on February 26th and still stuck in "processing" status after 6+ weeks. Like many others here, my federal refund arrived weeks ago while NJ continues to drag their feet. What's been most helpful from this thread is learning about the timestamp tracking approach - I just checked and mine has been updating every few days even though the status never changes. That at least gives me some reassurance that there's actual movement happening behind the scenes. I'm definitely going to try contacting my assemblyman's office this week based on the success others have had with that approach. It sounds like collective pressure from multiple districts might be our best shot at getting real transparency from the Division of Taxation about these processing delays. As a newcomer to this community, I really appreciate how everyone is sharing practical solutions instead of just venting frustration. The batch processing theory by filing date ranges makes a lot of sense too - hopefully those of us who filed in late February will see movement together soon. I've mentally prepared myself for the 8-10 week timeline that seems to be the new normal this year. It's frustrating having to completely restructure my financial planning around this delay, but at least now I know what to expect instead of checking the website daily hoping for a miracle!

Just went through this exact nightmare with Wells Fargo last month! Here's what actually worked for me after weeks of getting nowhere: Call Chase and specifically ask to be transferred to their "Document Services" or "Historical Records" department - NOT regular customer service. When I finally got to the right department, they were able to pull my 1099-INTs going back 5 years, though they did charge me $30 per tax year. If that doesn't work, definitely go with the IRS Wage and Income Transcript route that others mentioned. I got mine online instantly and it showed ALL the 1099-INT information that had been reported to the IRS, even from accounts I'd forgotten about. One thing that saved me time - I also used my online banking to pull up old statements and just calculated the annual interest myself. The monthly statements show exactly how much interest was credited each month, so you can add it up for the year. The IRS accepts this as long as you keep the statements as documentation. Don't panic about the notice deadline! I called the IRS number on my notice and explained I was gathering missing documents. They gave me an additional 60 days no questions asked. Just be proactive about calling them before the deadline passes.

I've been through this exact situation and wanted to add a few more options that helped me: If you have access to your old tax returns (even if they were filed incorrectly), sometimes banks will accept a copy of your prior return as proof when requesting historical 1099s. This can expedite the process since it shows you're legitimately trying to correct your taxes. Also, check if Chase has a dedicated tax season hotline - many banks set up special phone lines from January through April specifically for tax document requests. These lines often have shorter wait times and staff who are more familiar with these types of requests. One thing I learned the hard way: if you're calculating interest from statements, make sure to account for any interest that was compounded and added back to principal during the year. Sometimes banks show this differently on statements vs. 1099s, and you want to make sure you're only reporting the actual interest income, not principal additions. For your IRS response, consider including a cover letter explaining that you're working to obtain missing documents and provide a timeline for when you expect to have everything. This shows good faith effort and can buy you more time if needed.

Something nobody's mentioned yet - don't forget that when you eventually sell the rental property, all that mortgage interest you've been deducting on Schedule E will affect your depreciation recapture and capital gains calculations! The fact that you're deducting it as a business expense means you're reducing your basis in the property over time.

This is a great discussion that really clarifies the mortgage interest deduction rules! As someone who's been dealing with similar questions, I want to emphasize how important it is to keep detailed records of all your mortgage payments and property expenses. One thing I'd add is that if you're doing any improvements to either property, make sure you're tracking those separately. Capital improvements to your rental property increase your basis (offsetting future depreciation recapture), while improvements to your primary residence might qualify for additional mortgage interest deductions if you finance them. Also, since you mentioned this is your first year with the rental property, don't forget that you may have some one-time startup expenses that are deductible in the first year, separate from your ongoing mortgage interest. Things like advertising for tenants, legal fees for lease agreements, etc. can all go on Schedule E alongside your mortgage interest. The key takeaway everyone's reinforcing here is correct - your rental mortgage interest has no cap and goes on Schedule E as a business expense, while your primary residence is subject to the $750k limit on Schedule A. Keep those two completely separate in your records and you'll be fine!

Something important that nobody has mentioned yet - make SURE you're actually eligible for an HSA in the first place. I nearly made a huge mistake because I didn't realize that being enrolled in my spouse's FSA made me ineligible for HSA contributions, even though I had an HDHP.

Great breakdown of your strategy! One additional consideration for the rollover portion - when you roll the remaining IRA funds to your 401k, make sure to coordinate the timing with your tax planning. If you do both the QHFD transfer and the 401k rollover in the same tax year, it'll simplify your tax reporting since all the IRA activity happens at once. Also, since you mentioned you're relatively new to investment strategies, consider looking at the investment options in your Vanguard 401k versus what you had in the Fidelity IRA. Sometimes consolidating for administrative simplicity is worth it even if the investment options aren't identical. One last thought - document everything carefully. The QHFD is reported on Form 8889, and you'll want clear records showing the transfer amount and dates for your tax preparer. The IRS is pretty strict about the testing period requirements, so good documentation will save you headaches if they ever ask questions.