Has anyone successfully gotten their Airbnb annual tax summary to actually match the 1099-K amount? I've tried for 3 years and they never match exactly. Always off by a few hundred dollars even after accounting for all the fees.

This is such a common issue with Airbnb hosts! I went through the same confusion last year. Here's what I learned after consulting with my CPA: You definitely need to report the full gross amount from your 1099-K on your Schedule C - this is what the IRS will be expecting to see since they receive a copy of that form from Airbnb. The key is then deducting all those Airbnb fees as legitimate business expenses. Look for these line items on Schedule C: - Line 10 for commissions and fees (this covers Airbnb's service fees) - Line 27a for other expenses (you can itemize things like payment processing fees) Also don't forget about other deductible expenses like cleaning supplies, repairs, utilities for the rental space, and depreciation on furniture/appliances used exclusively for the rental. I found it helpful to download all my transaction history from Airbnb for the year and create a simple spreadsheet tracking gross bookings vs. net deposits. This gives you a clear paper trail in case of any IRS questions later. The bottom line is your net rental income should end up being the same whether you report gross and deduct fees, or just report net - but matching the 1099-K is important for avoiding any red flags.

Wow, this thread is exactly what I needed to find! I'm also a NJ tax newbie (just moved here from Florida where there's no state income tax - what a shock this whole process has been!) and filed on March 14th. Reading through everyone's experiences has been both comforting and terrifying - I had no idea NJ was notorious for these incredibly long wait times! I've been checking that status page almost daily since filing and getting increasingly worried that something was wrong. Now I realize that "in process" status might as well say "check back in 3 months" 😅 Based on @Avery Davis's super helpful breakdown and everyone else's timelines, it sounds like I shouldn't expect anything until late June or July. I claimed the Earned Income Credit and have some rental property income, so I'm probably in the "additional scrutiny" category. At least now I can stop obsessing over the status checker and just accept that this is how the Garden State rolls. Thanks to everyone for sharing their experiences - this community has saved my sanity! Here's to hoping we all get our refunds before the next tax season starts! 🤞

This thread has been such a lifesaver! I'm also a NJ newbie (moved from Texas last year) and filed on March 18th. In Texas there's no state income tax, so this whole waiting game is completely foreign to me. I've been refreshing that status page like it's going to magically update with good news, but after reading everyone's experiences here, I realize I need to just chill and accept that NJ operates on geological time when it comes to refunds! 😅 I claimed the property tax deduction and have some investment income, so based on @Avery Davis's incredibly helpful breakdown, I'm probably looking at summer 2025 before I see anything. It's honestly both frustrating and oddly comforting to know this is just "how things work" in the Garden State rather than something being wrong with my return. Thanks to everyone for sharing - this community solidarity is getting me through the wait! Now I just need to forget about that money until it magically appears in my account someday... 🎩✨

Same here from NJ - filed mid-February and still stuck on "return received" 😤 Starting to wonder if I should just expect it sometime next year at this rate. The whole system feels like it's running on dial-up internet from 2005

NJ filer here too and honestly this whole situation is a nightmare. Filed in late January and I'm still showing "return received" with zero movement. At this point I've given up checking daily because it just makes me more frustrated. The worst part is not knowing if there's actually an issue or if it's just the normal backlog everyone keeps talking about.

I've been dealing with Section 179 carryovers for my consulting business and wanted to share what I've learned through some painful trial and error. The key thing that wasn't immediately obvious to me is that you need to maintain really detailed records of WHEN each carryover originated, not just the total amount. Here's why this matters: if you have carryovers from multiple years (like your $570 from 2022 plus new ones from 2025), you need to use them in FIFO order - first in, first out. So your 2022 carryover gets used before any 2025 carryover when you finally have enough business income. Also, make sure you're calculating your business income limitation correctly each year. It's not just your Schedule C profit - you need to consider the taxable income limitation as well. This caught me off guard in a year where my business was profitable but my overall tax situation was different due to other deductions. One more tip: create a simple spreadsheet to track each asset's Section 179 status. Include columns for purchase date, original cost, Section 179 amount taken, carryover amounts by year, and current status. This has saved me so much headache when preparing returns and will be invaluable if you ever get audited.

This thread has been incredibly helpful! I'm dealing with a similar situation where I have Section 179 carryovers from multiple years due to business losses. One thing I want to emphasize that really caught me off guard is the importance of keeping your Form 4562 from each year, even the loss years. I made the mistake of not saving my 2022 Form 4562 because "nothing happened" that year due to the loss. When I went to prepare my 2025 return, I had to reconstruct the carryover amounts from scratch. The IRS transcript didn't show the detail I needed, and it took me weeks to piece together which assets had carryover amounts and how much. Now I keep a dedicated tax folder with every Form 4562, even if the carryover amount is zero that year. I also maintain a running summary sheet that shows the carryover balance at the end of each tax year. This has made preparing subsequent years so much easier and gives me confidence that I'm not missing any deductions I'm entitled to claim. For anyone using tax software, double-check that your carryover amounts are transferring correctly year to year. I've seen cases where software updates or version changes caused carryover amounts to get lost in the transfer process.

I'm going through almost the exact same situation! Filed my amended 2022 return in June 2023 and it's been 10 months with no resolution. The "Where's My Amended Return" tool just shows "received" with no processing date. I've called three times and each representative gives me different information - one said 20 weeks, another said they're "working on 2023 returns from early in the year," and the last one couldn't even locate my return in their system initially. The inconsistency is maddening. I'm owed a significant refund due to overlooked medical expenses, and at this point I'm wondering if I should contact my representative or try the taxpayer advocate route. It's reassuring to know others are experiencing the same delays, but frustrating that there seems to be no clear timeline or accountability.

I'm in a very similar situation and it's incredibly frustrating. Filed my amended 2022 return in March 2023 (so about 13 months ago now) and I'm still waiting. The worst part is the complete lack of transparency - every time I call, I get a different story about processing times and where my return is in the queue. What really bothers me is that they can take your money immediately if you owe them, but when they owe you, it's somehow acceptable to wait over a year with no real explanation. I've been considering filing a complaint with the Taxpayer Advocate Service because this feels unreasonable at this point. The financial impact of waiting this long for a legitimate refund is real - some people are counting on that money for important expenses. Has anyone here had success with the Taxpayer Advocate Service for amended return delays? I'm wondering if it's worth the effort or if they'll just tell me to keep waiting like everyone else.