Does anyone know if we're supposed to include copies of our I-20 or passport with Form 8843? My DSO gave me conflicting info on this.

As someone who went through this exact same confusion a few years ago, I completely understand your stress! Let me add a few practical tips that might help: First, don't panic about the previous years - the IRS is generally understanding about Form 8843 filing delays when there's no tax owed. I filed mine for 3 previous years all at once and never heard anything back from them. For your current situation, since you mentioned you don't have any US income, you'll only need Form 8843 (not Form 1040NR). Make sure to check the "student" box in Part II and fill out the dates you were present in the US during the tax year. One thing that caught me off guard - if you traveled outside the US during the year (even briefly), you need to list those departure and return dates. Keep your passport handy when filling out the form. Also, since you mentioned visa status concerns - filing Form 8843 actually helps protect your status by formally documenting that you're claiming the student exemption from the substantial presence test. It's better to file late than never! The Austin, TX address mentioned earlier is correct for mailing. I'd definitely recommend certified mail with tracking so you have proof it was sent and received.

Quick tip from someone who learned the hard way: Make sure your accounting software is set up to track sales by customer location! We had to manually go back through thousands of transactions because our system wasn't capturing state data correctly. If you're using QuickBooks or similar, you might need to customize some fields. Make sure you're capturing: - Customer's billing address state - Customer's shipping address state (if applicable) - Physical location where services are performed - Where the benefit of your service is received (for market-based states) This will save you SO much time when preparing your apportionment calculations. Trust me, doing this retroactively is a complete nightmare.

As someone who's been through this exact same situation, I completely understand that overwhelming feeling! Multi-state apportionment can seem daunting at first, but breaking it down into manageable pieces really helps. One thing I'd add to the excellent advice already given is to start by identifying which states you actually have nexus in - don't assume you need to file everywhere you have customers or employees. Some states have minimum thresholds for economic nexus, and the rules vary significantly. For your remote employees, I'd recommend creating a simple tracking spreadsheet right away. Have each employee log their work location daily or weekly - even a basic Google Form can work. The key is starting this process now rather than trying to reconstruct it later. Also, don't try to perfect everything in year one. Focus on getting the basic framework right and being consistent in your approach. You can refine your methodology as you gain experience. Most importantly, consider consulting with a tax professional who specializes in multi-state issues for your first year - it's worth the investment to establish a solid foundation. You've got this! The fact that you're asking these questions now shows you're taking the right approach.

Has anyone here actually used Section 179 for a food truck specifically? I'm seeing mixed info online about whether food trucks qualify as "vehicles" or "equipment" for tax purposes. My tax software is confusing me!

As someone who's been through the food truck startup process, I'd strongly recommend getting everything in writing from the IRS or a qualified tax professional before making any major decisions. While Section 179 can be amazing for equipment purchases, there are some nuances that could trip you up. For example, if your food truck business shows a loss in the first year (which is common with startups), you might not be able to take the full Section 179 deduction immediately. Also, make sure you understand the difference between the truck itself and any equipment you add to it - some modifications might need to be depreciated separately. One thing that really helped me was keeping detailed records from day one. Not just receipts, but photos of the truck, documentation of any modifications for business use, and a clear business plan showing how the truck generates income. The IRS loves to see that you're running a legitimate business, not just trying to write off a vehicle purchase. Also consider talking to other food truck owners in your area about their experiences with deductions. Local regulations and permit costs can add up quickly and many of those are deductible business expenses too!

Has anyone used TurboTax to handle this scenario? I'm in the same boat (converted home to rental in July, bought new primary residence) and wondering if the software can handle all the allocations between Schedule A and Schedule E correctly.

Just want to add one more consideration that hasn't been mentioned yet - make sure you're tracking your expenses properly from day one of the rental conversion. Beyond just the mortgage interest, you can deduct things like repairs, maintenance, property management fees, advertising costs for finding tenants, and even mileage for trips to the rental property. I converted my primary residence to a rental three years ago and wish someone had told me to start keeping detailed records immediately. Things like receipts for minor repairs, documentation of time spent on property management activities, and photos of the property's condition can all be valuable come tax time. The mortgage interest deduction is just one piece of a much larger tax strategy for rental properties. Also, don't forget that you'll need to report all rental income, including security deposits if you don't return them. The good news is that most expenses related to maintaining and operating the rental can offset that income on Schedule E.

Don't forget that if you sell your rental property for a gain in the future, any suspended passive losses from previous years can be used at that time. So even if you can't use the losses now against your capital gains, they're not lost forever. I made this mistake years ago thinking my rental losses were just gone, but when I sold my property, my accountant was able to apply all those carried-forward losses against the gain from the sale. Saved me thousands!

This is a really common misunderstanding! I had the exact same confusion when I first started dealing with rental properties and stock trading. The key thing to remember is that the IRS has very specific definitions for different types of income, and they don't always match what we'd think of as "passive" in everyday language. Your capital gains from stock trading fall under "portfolio income" while rental activities are "passive activities" - they're in completely separate buckets for tax purposes. That said, don't get discouraged about those rental losses. As others mentioned, if your MAGI is under $100k, you might still be able to deduct up to $25k of those losses against your other income this year. And even if you can't use them now, they'll carry forward and can be incredibly valuable when you eventually sell the property. I'd definitely recommend keeping detailed records of all your rental expenses and losses - you'll thank yourself later when tax time comes around in future years!