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That's really frustrating that TurboTax didn't give any advance notice about discontinuing the refund advance! For future reference, it might be worth checking out multiple tax prep options early in the season to see what services they're offering. I've heard some credit unions also offer short-term loans against expected refunds with better rates than the traditional advance programs. Hang in there - at least your refund should come through in a couple weeks!
That's a great point about credit unions! I had no idea they offered refund loans. Do you happen to know what kind of rates they typically charge compared to the traditional advance fees? And is there usually a minimum credit score requirement?
I feel your pain - this caught a lot of people off guard this year! One thing you might want to check is if your bank offers any emergency loan programs or overdraft advances that could help bridge the gap until your refund comes in. Some banks will advance funds against direct deposits they know are coming. Also, if you're really in a bind, you could potentially amend your return later to claim fewer deductions and get a smaller but faster refund through the IRS Free File system, though that's probably more hassle than it's worth at this point. The good news is refunds are typically processing pretty quickly this year - usually 21 days or less for e-filed returns.
One thing I haven't seen mentioned yet is that your sister should definitely keep documentation of the endorsement process. When she signs it over to you, both of you should take photos of the endorsed check before you deposit it. This creates a paper trail that shows the transfer was legitimate and consensual. Also, make sure she signs it exactly as her name appears on the front of the check - if there are any discrepancies (like middle initial missing or different spelling), some banks will reject the endorsement. I learned this the hard way when trying to help my dad with his refund check last year. The IRS allows this type of endorsement, but having documentation protects both of you if there are any questions later. It's also worth keeping a record of when and where you deposited it, just in case either of you needs to reference it for any reason down the line.
This is excellent advice about documentation! I'd also add that your sister should consider making a photocopy of her ID and having you make a copy of yours too, just in case the bank asks questions about the endorsement later. Some banks are getting really strict about third-party endorsed government checks because of fraud concerns, so having that extra documentation showing both parties were involved legitimately can really help smooth the process. It might seem like overkill, but it's way better to have too much documentation than not enough when you're dealing with Treasury checks!
I work at a tax prep office and deal with this situation frequently. Yes, your sister can legally endorse her IRS refund check over to you, but here are the key steps to make sure it goes smoothly: 1. She needs to sign the back of the check exactly as her name appears on the front 2. Below her signature, she writes "Pay to the order of [your full legal name]" 3. You'll need to sign below that when you deposit it Before attempting this, definitely call your bank first. Many banks have tightened their policies on third-party endorsed government checks due to fraud concerns. Some will require both of you to be present with valid IDs when depositing. If your bank won't accept it, consider these alternatives: - Credit unions are generally more flexible with endorsed checks - Some Walmart locations cash Treasury checks for a flat fee (much cheaper than check-cashing stores) - Your sister could open a basic checking account - many credit unions offer "second chance" programs for people with past banking issues Whatever route you choose, take photos of the endorsed check and keep records of the transaction. This protects both of you and shows the transfer was legitimate if any questions arise later.
This is really comprehensive advice, thank you! As someone who's new to dealing with tax issues, I'm curious about the "second chance" banking programs you mentioned. How do you actually find credit unions that offer these programs? Is there a specific way to ask about them when calling, or do they go by different names at different institutions? My sister is pretty anxious about being turned down for banking services again after what happened with the identity theft, so knowing the right terminology to use when inquiring could really help her feel more confident about approaching a credit union.
I'm actually preparing taxes for my cousin who's in almost the same situation (F1 with pending I-485). Does anyone know if using a tax service like H&R Block is worth it for this kind of complicated situation? Or should I just use something like TurboTax?
DO NOT use H&R Block for international student taxes! They completely messed up my F1 tax return last year and claimed education credits I wasn't eligible for as a nonresident. Had to amend and it was a huge headache. TurboTax isn't much better for complex international situations. Either use your university's free VITA program if they have international student tax specialists, or find a CPA who specializes in nonresident taxation. Otherwise you're just paying $$$ for someone to input numbers who knows less about your tax situation than you do.
Just went through this exact situation last year! As someone who had F1 status with pending I-485 and received foreign tuition payments, I can confirm what others have said - you don't need to report the $40k tuition payment as income since it went directly to your university. However, there are a couple of additional things to keep in mind with your mixed immigration status: 1. Make sure you're filing as a resident alien for tax purposes if you meet the substantial presence test, even though you're still on F1 visa. Your pending I-485 doesn't automatically make you a tax resident, but your physical presence might. 2. Keep detailed records of the wire transfer and your I-20 form showing the tuition amount. If USCIS asks for tax compliance documentation during your I-485 process, having clear proof that this was educational funding (not unreported income) will be important. 3. Double-check if your parents sent any additional money for living expenses directly to you - that would still be considered a gift and not taxable, but good to track separately from tuition payments. The key thing is that since the money never touched your accounts and went straight to an educational institution using proper F1 documentation, it's clearly not income to you. Good luck with both your taxes and your green card application!
This is really helpful! I'm new to this community and currently on F1 status myself. Quick question about the substantial presence test you mentioned - how do you calculate that when you've had mixed status throughout the year? I've been in the US for about 18 months total but had periods where I was traveling back home. Does time outside the US count against the substantial presence calculation? Also, when you say keep records of the wire transfer, do you mean just the bank statements showing the transfer, or do you need some kind of official documentation from the university confirming they received it for tuition purposes?
If you're really stuck, you can also log back into your H&R Block account and look at the actual depreciation schedule they created last year. Sometimes it's easier to see it there than on the actual tax forms. Go to your account, look at last year's return, and there should be a section for "Depreciation Worksheets" or something similar that shows a breakdown year by year. Just FYI - I found FreeTaxUSA's rental property section to be pretty good once you get past this initial hurdle of entering the prior year stuff. Much more straightforward than H&R Block in many ways!
I switched from TurboTax to FreeTaxUSA last year and ran into the exact same issue with my rental property! One thing that helped me was to look at the actual depreciation worksheet that H&R Block generated, not just the forms. When you log into your H&R Block account, there should be a detailed depreciation schedule that shows the breakdown year by year - this made it crystal clear what the cumulative amount was. Also, double-check that you're looking at the right property if you have multiple rentals. I almost entered the wrong depreciation amount because I was looking at the wrong property's line on my Schedule E. The Form 4562 Box 22 that others mentioned is definitely the right place to look for the cumulative prior-year depreciation amount. FreeTaxUSA's interface for rental properties is actually pretty intuitive once you get past this initial setup. Good luck with the switch - you'll definitely save money compared to H&R Block's fees!
This is really helpful advice! I'm actually planning to make the same switch from H&R Block to FreeTaxUSA next year for my rental property taxes. The tip about checking the detailed depreciation worksheet in the H&R Block account instead of just the forms is brilliant - I never would have thought to look there. Quick question - when you switched, did you notice any other carryover numbers that were tricky to find besides the depreciation? I want to make sure I'm prepared for all the potential gotchas when I make the transition.
Miguel Ortiz
try hrblock instead, turbotax been acting like a 𤔠lately fr fr
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Zainab Khalil
ā¢facts. switched last year and never looked back
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StarStrider
Been dealing with this exact same issue! What worked for me was logging out of TurboTax completely, then logging back in and starting fresh from the IP PIN section. Sometimes the software gets stuck in a loop where it thinks the field is empty even when you can see the PIN there. Also make sure there's no extra spaces before or after the PIN - that caught me once too!
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