This thread has been incredibly helpful! I'm also on cycle 05 and was checking my transcript daily like it was going to magically update. Now I understand why I was driving myself crazy - Thursdays only! One thing I'm curious about though - if cycle 05 updates happen Thursday nights and show up Friday mornings, does that mean if there are any issues with my return (like needing additional verification), I'd also find out on Fridays? Or do those kinds of notices follow a different timeline? I'm trying to plan my week around when to actually expect meaningful updates versus just wasting time checking. Also, for those mentioning cycle changes from weekly to daily - is there any way to predict if that might happen, or is it pretty much random based on IRS processing needs?

This has been such an informative thread! I'm also on cycle 05 and was getting frustrated checking every day. Now I know to only check on Friday mornings. One question I haven't seen addressed yet - for those of us with cycle 05, is there a specific time on Friday morning when the updates typically appear? I know the IRS says "overnight" processing, but I'm wondering if anyone has noticed a pattern of when exactly the transcript updates show up. Is it usually available by 6 AM EST, or does it sometimes take until later in the morning? I'm trying to establish a routine that doesn't have me refreshing the page all morning long. It would be great to know if there's a reliable time when I can check once and get the current status rather than wondering if it just hasn't updated yet or if there's actually no change to report.

Has anyone had experience with how suspended passive losses affect your MAGI when you finally get to use them? I've been accumulating losses on my rental for 5 years and am thinking of selling soon.

As someone who's dealt with this exact same confusion, I can confirm what others have said about using the pre-depreciation rental income figure for MAGI calculations. In your case, that would be the $4,000. One thing that helped me understand this better is thinking about why MAGI exists in the first place - it's meant to capture your actual economic income flow for determining eligibility for various programs. Depreciation is a "paper loss" that doesn't represent actual cash leaving your pocket, so it gets added back. The passive loss limitation (showing $0 on line 25) is a separate issue from MAGI calculation. Those suspended losses are essentially being "stored" for future use when you either have passive income to offset or sell the property. For your situation with $4,000 net rental income before depreciation, that's what you'd include in your MAGI calculation for most purposes. Just remember that if you're calculating MAGI for different programs (ACA subsidies vs IRA contribution limits, etc.), there might be slight variations in what other items get added back to your AGI.

This has been such an enlightening thread! As someone who just started receiving 1099 income this year alongside my regular W-2 job, I had no idea about the Solo 401k option and the potential tax savings. Reading through everyone's real-world examples and calculations has been incredibly valuable. I'm particularly impressed by how many people have shared their actual numbers - seeing the $700-1000 in tax savings on relatively modest 1099 income really drives home why this is worth pursuing. The distinction between employee and employer contributions was confusing at first, but the explanations here made it click. One thing that stands out is how this community has covered all the practical aspects - from setup timelines and brokerage comparisons to the important deadlines and filing requirements. It's rare to see such comprehensive advice in one place! For anyone else reading this who's on the fence, the consensus seems clear: if you have any meaningful 1099 income, setting up a Solo 401k is almost always worth it for the tax benefits alone, not to mention the long-term retirement savings growth. The setup process sounds much less intimidating than I initially thought. Thanks to everyone who shared their experiences - this thread should probably be pinned as a reference for anyone dealing with mixed W-2/1099 income and retirement planning!

This thread has been incredibly comprehensive and helpful! As a newcomer who just stumbled onto this discussion while researching my own 1099/W-2 situation, I'm blown away by the quality of advice and real-world examples shared here. I'm in a similar position with about $22k in 1099 income this year and had been completely overwhelmed trying to figure out the Solo 401k rules on my own. The IRS publications are dense and confusing, but seeing everyone break down the actual calculations and share their tax savings numbers makes this so much clearer. A few key takeaways that really helped me: - The $23,000 employee contribution limit applies across ALL 401k accounts combined - You can still make employer contributions to a Solo 401k based on your SE income even if you've maxed out employee contributions elsewhere - The ~20% employer contribution rate accounts for the SE tax adjustment (thanks for clarifying that detail!) - Setup needs to happen by Dec 31st but funding can wait until tax deadline I'm definitely moving forward with opening a Solo 401k based on everything I've learned here. The potential tax savings of $800+ on my income level makes the setup effort a no-brainer. Thank you to everyone who shared their experiences - this is exactly the kind of practical, real-world guidance that makes all the difference when navigating these complex tax situations!

I'm getting the exact same Transaction 107460787274-1 error! Been trying to access my cycle 5 transcript since around 6:30 AM and keep hitting that same frustrating "unrecoverable error" message. I was starting to worry something was wrong with my return, but reading through all these comments has been such a relief - clearly this is just the IRS servers being completely overwhelmed today. It's crazy that we're all getting the identical transaction error code, which really proves this is a system-wide capacity issue rather than individual account problems. You'd think the IRS would anticipate these traffic spikes on cycle update days by now and prepare their servers accordingly, but here we are dealing with the same issues every time! Really appreciate everyone sharing the late night strategy - makes perfect sense that there would be way less traffic after 11 PM compared to all of us frantically checking first thing in the morning. Going to stop refreshing constantly and wait until tonight to try again. This community is amazing for helping each other understand what's normal IRS system chaos versus actual problems with our returns! 🙏

I'm experiencing the exact same Transaction 107460787274-1 error! Been trying to check my cycle 5 transcript since about 6 AM and getting nowhere with that same "unrecoverable error" message from the Treasury Department system. This is actually my first year really tracking transcript updates closely during tax season, and I was genuinely panicking thinking something went wrong with my filing or that my account got flagged somehow. Reading through everyone's comments has been incredibly reassuring - it's amazing that we're all getting the identical transaction error code, which really confirms this is just widespread server overload rather than individual account issues. The timing makes perfect sense since today is when all us cycle 5 filers are frantically checking to see if our refunds processed overnight. You'd think the IRS would have figured out how to handle these predictable traffic surges by now, but apparently not! Really appreciate everyone sharing the late night strategy - definitely going to wait until after 11 PM when traffic dies down instead of continuing to refresh every few minutes like I have been. This community is such a lifesaver for helping newcomers like me understand what's normal IRS system chaos versus actual problems with our returns! 🙏

Based on all the excellent advice shared here, I think your original instinct is spot on. Depositing one check in your checking account and the other directly into your brokerage account is actually the most practical approach - you're putting the money exactly where you need it without any unnecessary intermediate steps. I've handled similar situations in my work, and what strikes me about your case is that you have clear documentation (inheritance and property sale) and legitimate reasons for the deposits. That's really all that matters from a compliance perspective. A few practical suggestions: - Keep those estate documents and closing statements handy, even though you'll probably never need them - Consider making the deposits on different days if that feels more comfortable to you (though it's not necessary) - Don't stress about the ACH transfer question - moving money between your own accounts is completely routine The banking system is designed to flag unusual patterns and suspicious behavior, not legitimate documented transactions. Your situation is textbook "normal financial activity" even if the amounts feel large to you personally. Focus on managing your money in the way that makes the most sense for your financial goals rather than worrying about imaginary red flags.

I'm glad you're feeling more confident about this! Reading through everyone's experiences here has been really educational. As someone who's dealt with similar anxiety about legitimate financial transactions, I can totally relate to the overthinking aspect. One small addition to all the great advice - if you do decide to call your banks ahead of time, you might also ask about their mobile deposit limits. Some banks have lower limits for mobile deposits versus in-person deposits for large checks. If these checks exceed those limits, you'll need to go in person anyway, which actually gives you a chance to briefly mention the source if any questions come up naturally. Your plan really does sound solid. The fact that you have proper documentation and the money is going exactly where you need it (expenses and investments) shows this is just good financial management. Best of luck with everything!