I filed on February 5th and got my refund deposited on February 18th - so 13 days total! Much faster than I expected. I have a relatively straightforward return (W-2, some student loan interest deduction, and child tax credit), but I was still pleasantly surprised by the speed. One tip that might help while you're waiting - if you have the IRS app or access to your online account, you can also check the status there in addition to the "Where's My Refund?" tool. Sometimes one updates before the other. For your car repairs, if the refund doesn't come through in time, some auto shops offer payment plans or might work with you on timing if you explain the situation. Hope your refund comes through quickly!

Just wanted to add another data point to help ease your anxiety! I filed my return on January 28th and received my refund via direct deposit on February 10th - exactly 13 days, which was amazing compared to last year when I waited almost 5 weeks. My situation was a bit more complex too - I had W-2 income, some 1099-MISC freelance work, and claimed the American Opportunity Tax Credit for college expenses. I was worried the education credit might slow things down since those sometimes get extra scrutiny, but it went through without any issues. The key things that seemed to help: e-filing, direct deposit, and making sure all my documents matched exactly what was reported to the IRS. I also made sure to file during a weekday rather than weekend, though I'm not sure if that actually matters. For your car repairs situation, I totally get the stress of waiting! If it helps, most people in this thread seem to be getting their refunds well within that 21-day window this year. The IRS really does seem to have their act together better than in previous years. Keep checking that "Where's My Refund?" tool - once it shows "approved" you should see the money within a few days after that.

Went through this last year and let me tell you, it's like the IRS version of dating - just when you think they're ghosting you, they text back! 😂 But seriously, watch out for what happened to me: status changed to processing, I got excited, then BAM - got hit with the dreaded 60-day review letter two weeks later. Apparently my employer submitted my W-2 with a typo in my SSN. The moral of this tragic tax tale: even when it goes back to processing, keep checking your transcript for codes 570/971 which might indicate additional reviews. Not trying to be a downer, just saying don't celebrate until you see that 846 refund issued code!

I'm going through this exact situation right now! Filed early February, got stuck in ID verification hell for about 10 days, and just switched back to processing yesterday. Reading through everyone's experiences here is actually really reassuring - sounds like this status change is generally a good sign that things are moving forward. For those asking about transcripts showing N/A - mine is still showing that too, but from what I'm reading here it sounds like that's normal during this transition period. I'm going to try to be patient and check again in a few days. @Melina Haruko - thanks for starting this thread! The PCS timing stress is real. We're military too and have had our fair share of verification delays over the years. Fingers crossed we both get some movement soon!

Small tip that helped me understand this better: think of bank fees like you think of any other service fee you pay - like a Netflix subscription or ATM charge. You don't report those on your taxes and the same goes for savings account withdrawal fees. The only "fees" that matter for taxes are those that are actually penalties for early withdrawals from tax-advantaged accounts or time deposits (CDs), and those will always be on your 1099-INT or other tax forms.

Thanks everyone for all the helpful responses! This makes so much more sense now. I was definitely overthinking it and trying to account for every little fee. Just to make sure I understand correctly - so the only thing I need to worry about from my 1099-INT is what's actually printed on the form itself, and regular banking fees like withdrawal charges, overdrafts, monthly maintenance fees, etc. are just personal expenses that don't affect my taxes at all? I feel so much better about filing now. First time doing taxes is pretty overwhelming but you've all been super helpful!

Another tip - make sure you know which of your grandma's investment accounts have automatic dividend reinvestment. This affects the cost basis on the 1099-B because reinvested dividends increase the basis. My dad's accounts had this feature and we were showing more gains than we should have been because the reinvested dividends weren't being properly tracked in the basis. Had to go through years of statements to correct it!

This is such a helpful thread! I'm dealing with something similar for my elderly aunt. One thing I learned the hard way - make sure to check if any of the 1099-INT forms show tax-exempt interest income in Box 8. My aunt had municipal bond funds across several accounts and we almost reported that income as taxable when it shouldn't have been. Also, when you're organizing everything for the accountant, I found it helpful to create a simple spreadsheet listing each 1099 form, which institution it's from, and the key amounts. It makes the appointment go much smoother when you can quickly reference which form has which information. The accountant will definitely appreciate having everything organized beforehand, especially with multiple investment accounts. Good luck with your appointment next week!

You're absolutely not alone in feeling frustrated by this! The IRS tracking system is honestly pretty outdated - they get all the raw data but don't provide the calculations we actually need as taxpayers. For your situation with the lost documents, Gabriel's suggestion about requesting old tax returns is spot on. But here's another tip that might help: if you had the same financial institution for your IRA over those 8 years, try calling them first. Many brokerages can provide historical contribution summaries going back several years, which might be faster than waiting for IRS transcripts. Also, if you used tax software like TurboTax or H&R Block in previous years, they often store your old returns online. You might be able to log into your old account and download your Form 8606 from previous years to reconstruct your basis. The whole system definitely needs modernizing - other countries handle this much more efficiently by calculating taxes for their citizens instead of making everyone figure it out themselves!

This is such a helpful thread! I've been dealing with the same confusion about Form 5498 and non-deductible IRA contributions. What really clicked for me after reading everyone's responses is that the Form 5498 serves multiple purposes - it's not just about what I need to report on my current tax return, but also creates a paper trail for the IRS to track things like RMDs and conversions down the road. @Eli Wang - your original question really resonated with me because I had the exact same confusion about why the fair market value gets reported if we don't use it directly. Now I understand it's more about the IRS having complete records of account growth over time. One thing I'd add for anyone in a similar situation: make sure you're filing Form 8606 every single year you make non-deductible contributions, even if your tax software doesn't explicitly prompt you for it. I almost missed this one year because I was using a different tax program that didn't walk me through IRA basis tracking as clearly. That form is crucial for maintaining your basis records with the IRS, and it's what will protect you from double taxation when you eventually withdraw those contributions.