You can request tax transcripts from the IRS for previous years. Go to irs.gov and search for "Get Transcript Online" - you'll need to create an account if you don't already have one. The transcript will show what you reported for interest income each year. Alternatively, if you used the same tax software in previous years, you might be able to access your old returns through that software. Most keep records for at least a few years.

Thanks for that info about the transcripts! I just logged in and was able to download my last 5 years of returns. I can see the interest income I reported each year, but it's not broken down specifically for savings bonds vs other interest. Is there a more detailed transcript that would show that breakdown?

I used TaxSlayer last year and they do have a specific section for savings bonds where you can enter previously reported interest. It's under "Federal → Income → Interest Income" and then there's a checkbox for US savings bonds that opens additional fields. Much more straightforward than FreeTaxUSA in my experience.

That's really helpful, thanks! I might make the switch then. Do you know if I can import my W-2 and other forms from FreeTaxUSA to TaxSlayer or would I have to re-enter everything manually?

That's reassuring to hear. Did you get hit with any penalties or just the back taxes and interest? And did you use a tax professional or just do it yourself?

I ended up paying a penalty of about 20% on top of the taxes owed, plus interest. It wasn't fun writing that check, but it was bearable and totally worth the peace of mind. I used a CPA for the amended returns. It cost me about $350, but they found some deductions I'd missed that probably saved me twice that amount. Plus they handled all the paperwork correctly which I think helped avoid any audit flags. If you've got somewhat complicated taxes or multiple years to amend, a professional is definitely worth the money.

The IRS doesn't automatically know about your eBay income though. They only know what gets reported to them through forms like W-2s and 1099s. If eBay/PayPal didn't issue 1099s (which they wouldn't for smaller sellers back then), the IRS has no way of knowing about that income until they audit you or match bank deposits.

Do you know if I can change the withdrawal date each month? My paychecks come on different days depending on the month.

When you set up a direct debit installment agreement with the IRS, you can choose a monthly payment date that works best for you - the 1st, 8th, 15th, or 22nd of each month. Unfortunately, you can't change the date each month - you have to pick one consistent date. Most people pick a date that's a few days after their typical paycheck arrives. If your pay schedule varies that much, you might want to consider keeping a buffer in your account or choosing a date later in the month.

Yes, there's a setup fee, but it's lower if you choose direct debit vs. other payment methods. I think it's around $31 for direct debit if you set it up online. Regular installment agreements have higher fees (like $149). If your income is below a certain threshold, you might qualify for a reduced fee or fee waiver. Check out Form 13844 for fee reductions based on income.

Good point about investment income! I do have a small amount of dividends (about $320) and some interest income (around $180) that I didn't include in my manual calculation. That definitely explains part of the difference. Do you know if student loan interest deduction reduces MAGI for the EV credit calculation? I paid about $900 in student loan interest last year.

Student loan interest is one of those deductions that gets added back when calculating MAGI for most tax credits, including the EV credit. So while it reduces your AGI, it doesn't reduce your MAGI for this purpose. So the $500 in investment income you mentioned plus adding back your IRA deduction and student loan interest deduction would explain why TurboTax is calculating a higher MAGI than you expected. It sounds like their calculation is likely correct based on everything you've shared.

I claimed it last year! The credit worked exactly as advertised. Just make sure the dealer provides the proper certification that the vehicle qualifies. Not all used EVs qualify - there are price limits ($25,000) and the vehicle can't be more than 2 years old from when you purchase it. Also, double check the VIN - some dealers will try to sell you a vehicle that's already had the credit claimed on it before (which would make it ineligible).

Thanks for the info! I didn't realize there was a $25,000 price cap on the vehicle itself. That definitely limits the options. Did you have any trouble with the MAGI calculation part when you filed?

Is the QBI deduction automatic or do you have to do something special to claim it? I've been selling custom t-shirts online and made about $12k last year but my tax software never mentioned this.

It's not automatic - you need to specifically claim it on your tax return. Many basic tax software packages don't prominently feature it or explain it well. You should definitely look into it for your t-shirt business! With $12k in side hustle income, assuming reasonable expenses, you could potentially save hundreds in taxes. The deduction is calculated on your net profit (after expenses), not gross income. The calculation can get complex if your total income is above certain thresholds, but for most side hustlers making under $170k (single) or $340k (married), it's pretty straightforward - 20% of your net business income.

Yes, it's legit but be careful. I used this for my real estate side business last year with a Ford Explorer. The vehicle MUST be used more than 50% for business purposes, and you need to document that usage carefully. Also, they've reduced the bonus depreciation for 2023 (it was 100%, now it's 80% and decreasing by 20% each year). Make sure your side hustle income is substantial enough to justify this - the IRS does flag returns with large vehicle deductions relative to business income.