Don't panic! I went through this exact same thing last year. Code 424 showed up on my transcript in March and I was terrified it meant audit. Turns out they were just verifying my employer's W-2 info because there was a small discrepancy in the system. The whole thing resolved in about 6 weeks without me having to do anything. The IRS will send you a letter if they actually need documents from you. Until then, just keep checking your transcript weekly and try not to stress. I know it's easier said than done when your refund is tied up, but in most cases these examination codes clear up on their own. Hang in there!

I went through this exact same panic last year! Code 424 appeared on my transcript in April and I was convinced I was getting audited. Turns out it was just the IRS cross-referencing my 1099s with what my employers reported. The whole thing cleared up in about 5 weeks without me having to do anything at all. The hardest part is the waiting and not knowing, but from everything I've read and experienced, 424 is usually just a routine verification process. They're probably just making sure all your income sources match up in their system. If they actually needed documents or had serious concerns, they'd send you a letter requesting specific information. My advice: check your transcript once a week (not daily - it'll drive you crazy), and try to stay patient. The 6 month wait for your refund sucks, but the 424 code doesn't necessarily mean it's going to take much longer. Most people I know who got this code had it resolve within 4-8 weeks. You got this! 💪

10 I think people are overcomplicating this. The simple answer is no - you can't take annuity payments and roll them back into a Roth IRA as a transfer. Once money leaves the Roth environment as a distribution, it's just regular money in your pocket (albeit tax-free). The only way to get money "back in" would be through regular annual Roth contributions if you're eligible (have earned income, under the income limits, etc.). It's kind of like asking if you can take your tax refund and roll it into an IRA - you can't roll it in, but you can use that money to make a contribution if you qualify.

I appreciate all the detailed explanations here. Just to add another perspective - I work in retirement planning and see this confusion a lot. The key concept everyone's touching on is correct: once distributions begin from any retirement account (including Roth annuities), those payments lose their "qualified funds" status for transfer purposes. One thing I'd add is that the type of annuity matters too. If you have a deferred annuity *inside* your Roth IRA that hasn't been annuitized yet, you might still have some flexibility to exchange it for other investments within the Roth. But once you start receiving actual annuity payments, those are distributions that can't be rolled back in. The earned income requirement for new Roth contributions is also crucial - if you're retired, even having a spouse with earned income could potentially allow for a spousal Roth IRA contribution using your annuity payments, assuming you file jointly and meet the income limits.

Another thing to consider - if your husband also works, you need to account for his income too when figuring out your withholding. The W4 has spots for this, but most people miss it. Otherwise you'll be under withheld and owe a bunch at tax time.

Congratulations on your marriage! I went through this exact same situation a few years ago when I got married and had multiple jobs. Here's what I learned the hard way: The most important thing is to treat all your household income as one big picture. Since you have two jobs AND your husband works construction, you need to coordinate withholding across ALL THREE income sources. My recommendation: Start with the IRS Tax Withholding Estimator (it's free and official). Input all three jobs - your nursing job, teaching job, and your husband's construction work. It will give you specific instructions for each W4. A few key points: - Mark "Married filing jointly" on both your W4s - Only put additional withholding amounts on ONE of your jobs (usually the higher-paying one) - Consider having extra withheld if your husband's construction work doesn't withhold enough (some contractors underwithhold) I made the mistake of not coordinating with my spouse's income the first year and ended up owing $2,100 at tax time. Don't be like me! The withholding estimator takes about 15 minutes but saves you from nasty surprises in April. Also, since you're a nurse, you might qualify for some deductions related to uniforms, continuing education, etc. Keep track of those receipts!

Anyone know if cost segregation studies affect unrecaptured section 1250 gain? I got one done on my apartment building, and they broke out lots of components as 5-year and 15-year property instead of 27.5-year.

Great question! I had the same confusion when I first encountered this. The key thing to understand is that "unrecaptured Section 1250 gain" isn't really about improper depreciation methods - it's about the tax treatment of the gain when you sell. Even with straight-line depreciation (which is required for residential rental property), you'll still have unrecaptured Section 1250 gain equal to the total depreciation you've claimed over the years. This portion gets taxed at a maximum rate of 25% instead of the typical 15% or 20% capital gains rates. For example: If you bought a rental for $300k, claimed $75k in depreciation over 10 years, then sold for $400k, you'd have $175k total gain ($400k - $225k adjusted basis). The first $75k would be unrecaptured Section 1250 gain taxed at up to 25%, and the remaining $100k would be regular capital gains. This applies to virtually all rental property sales where you've claimed depreciation, regardless of using straight-line method. It's basically the IRS's way of "recapturing" some of the tax benefits you received from depreciation deductions over the years.

I went through this exact issue last month! Don't panic about the 1099-SA. Here's what I learned - the HSA contribution limits for 2025 are $4,150 for individual coverage and $8,300 for family coverage. If you're over 55, you can add an extra $1,000 catch-up contribution. Make sure your combined contributions (yours + employer's) shown in W-2 boxes 12a and 12b don't exceed these limits. If they do, that's where the "Earnings on Excess Contributions" might come into play. One thing that tripped me up: you need Form 8889 to report both HSA contributions AND distributions. The 1099-SA info goes on this form, not directly on your 1040. Most tax software walks you through this pretty well once you have all your forms.

Hey Zoe! I went through this exact same situation when I switched jobs last year. The good news is that once you get your 1099-SA from your HSA provider, it's actually pretty straightforward to handle on your tax return. Since you mentioned you're between jobs and need to file ASAP, here's what I'd recommend: Log into your HSA provider's website immediately and look for a "Tax Documents" or "Forms" section. Most providers have 2024 tax forms available online already. If you can't find it or don't have online access, call them directly and explain your urgent financial situation - they're usually pretty helpful when you mention you need it for unemployment/assistance applications. One thing that really helped me was keeping track of exactly what each HSA withdrawal was for. Since you mentioned $780 for doctor visits and prescriptions, make sure you have receipts or documentation for those expenses. When you file, you'll report these as qualified medical expenses on Form 8889, which means they won't be taxable income. The process is much less scary than it seems once you have the right forms! The 1099-SA will show your total distributions in Box 1, and you'll use Form 8889 to show they were for qualified medical expenses. Most tax software walks you through this step by step. Hang in there - you've got this!