Has anyone had experience with getting a refund of the withholding later? I've heard the Canadian seller can file for a refund if the actual tax liability is less than what was withheld, but curious how complicated that process is.

I just went through this exact situation 6 months ago when buying from a Canadian seller! The stress is real, but you'll get through it. A few things that might help: First, definitely confirm with your title company what their role is here. In my case, they handled the actual withholding and filing - I just had to provide the buyer information and sign off on the calculations. They should NOT be dumping all of this on you at the last minute. Second, double-check if you qualify for the primary residence exemption. If this will be your main home and the purchase price is under $1 million, you should only need to withhold 10% (or 0% if under $300k). That could save you thousands. The form itself isn't as scary as it looks once you understand what goes where. The key boxes are pretty straightforward - your info, seller info, property address, purchase price, and withholding amount. Don't let them rush you into making mistakes because of their poor planning. You have every right to push back on the timeline if they're not providing proper support. This is a standard part of foreign seller transactions and they should have processes in place to handle it smoothly. Hang in there - you're almost at the finish line!

Has anyone successfully e-filed their return with an NOL carryforward? Last year I had to paper file because TurboTax kept rejecting my return when I tried to include my S-Corp NOL. Wondering if any software handles this correctly for 2025 filing season?

I went through this exact situation two years ago with my S-Corp consulting business. Here's what I learned that might help: For question 1 - No, the NOL doesn't go directly on line 21. Since you have an S-Corp, your losses flow through on Schedule K-1 and get reported on Schedule E of your 1040. The actual NOL calculation happens separately using Form 1045 Schedule A as a worksheet. For question 2 - You can claim your full share of the S-Corp loss, but it's limited by three things: your basis in the S-Corp stock, your at-risk amount, and passive activity rules (Form 8582). Make sure you have sufficient basis to absorb the loss - this includes your initial investment plus any loans you made TO the company. For question 3 - You're looking for Form 1045 Schedule A. Even though Form 1045 is technically for carrying losses back, Schedule A is the IRS worksheet used to calculate NOL amounts for carryforwards too. There's no separate "NOL worksheet" form number. One tip: Keep meticulous records of your basis calculations. The IRS doesn't provide a specific form for tracking S-Corp basis, so you'll need to maintain your own detailed worksheet showing contributions, distributions, prior income/losses, and any loans to the company. This becomes crucial if you ever get audited. Hope this helps! The NOL rules can be confusing but once you understand the flow-through nature of S-Corp losses, it becomes much clearer.

I'm seeing alot of zeros on mine too. Called IRS and was on hold for 2hrs just to get hung up on 🤡

Same thing happened to me last year! All zeros across the board even though I had W2 income. Turns out the IRS was just behind on processing - took about 3-4 weeks for my transcript to update with the actual numbers. Since you mentioned self-employment income, make sure all your 1099s were filed correctly by your clients. Sometimes if there's a mismatch between what you reported and what was filed, it can cause processing delays. Don't panic yet, but definitely keep an eye on it and maybe call if it doesn't update in the next couple weeks.

Has anyone mentioned Schedule K-1 yet? When I handled my father's estate last year, I had to issue K-1s to all the beneficiaries for their portion of the estate income. That was the most confusing part for me!

I'm so sorry for your loss, Jayden. Dealing with estate taxes while grieving is incredibly difficult. From what you've described, you're on the right track with getting the EIN. Since your mom had minimal assets (house with mortgage and car), you may not need to file Form 1041 unless the estate generated over $600 in income after her death. This would typically come from things like interest, dividends, or rental income - not the assets themselves. For the SSA-1099, you'll need to determine if those Social Security payments were for periods before or after her death. Benefits for time periods when she was alive go on her final Form 1040 (covering January 1 to date of death). Any benefits received for periods after death should be returned to Social Security. A few key things to consider: - You'll likely need to file her final personal return (1040) in addition to potentially filing the estate return (1041) - The house and car are estate assets but don't create taxable income unless sold or generating rental income - Keep detailed records of all estate expenses (funeral costs, legal fees, etc.) as these may be deductible Don't feel bad about being confused - this is complex stuff even for professionals. Consider consulting with a tax professional who specializes in estate returns if your attorney isn't providing clear guidance on the tax aspects.

Don't forget about state tax departments too! I had a similar situation and my state's department of revenue was actually way more helpful than the IRS. They had copies of all my W2s for the past 5 years and were able to mail them to me after I verified my identity. Worth checking if your state offers something similar!

For anyone still dealing with this, I wanted to share what worked for me after being in a very similar situation. I hadn't filed for 6 years and was completely overwhelmed trying to piece everything together. Here's what I learned: You actually don't need the original W2s to file your back taxes. The IRS wage and income transcripts contain all the essential information - employer name (even if partially masked), wages, federal income tax withheld, Social Security wages, etc. A tax professional can work with just this information to prepare your returns. The key is to focus on getting your transcripts for each year you need to file, then either use tax software that accepts transcript data or work with a CPA who handles unfiled returns regularly. Many tax pros are experienced with exactly this situation and can interpret those encrypted EINs better than you'd expect. Also, don't panic about penalties - the IRS is often willing to work with people who are genuinely trying to get compliant, especially if you're owed refunds for some of those years. The sooner you start filing, the better your situation becomes. You've got this!