This is definitely legitimate and frustrating at the same time! I went through something very similar with StubHub earlier this year - sold some Broadway tickets at a loss and they required my SSN before releasing payment. What helped me understand it better is that this isn't really about Ticketmaster being shady (well, not MORE shady than usual) - it's actually federal tax law. The IRS has been tightening payment reporting requirements, so platforms that facilitate sales have to collect SSNs from anyone they pay, regardless of the amount or whether you made money. The silver lining is that your $210 loss ($330 - $120) can actually work in your favor tax-wise. You'll report this on Schedule D as a capital loss, which could offset other capital gains you might have. Even without gains to offset, capital losses can be used to reduce ordinary income up to $3,000 per year. Keep that original purchase receipt - it's crucial for proving your cost basis. The 1099-K (if you get one) will only show the $120 payment, so your receipt is what proves to the IRS this was actually a loss. I'd recommend just providing the SSN and taking your $120. It's annoying, but it's better than forfeiting money that's rightfully yours over what turns out to be legitimate tax compliance.

This is absolutely legitimate - I went through the exact same thing with Ticketmaster about 3 months ago! I was selling some concert tickets I couldn't use (paid $400, sold for $150) and was super suspicious when they asked for my SSN, especially since I was already taking a massive loss. After researching it extensively, I found out this is required by federal tax law. Payment platforms have to collect SSNs for tax reporting purposes regardless of whether you made or lost money. It's not Ticketmaster being extra shady - it's IRS compliance. The good news is you won't owe taxes since you're selling at a loss. You'll actually be able to report a $210 capital loss on Schedule D when you file your taxes ($330 original cost minus $120 sale proceeds). This loss could potentially offset other capital gains or even reduce your regular income by up to $3,000. My advice: just provide the SSN and take your $120. Make sure to keep your original purchase receipt as proof of your $330 cost basis - that's what you'll need to document the loss if the IRS ever questions it. Even if you get a 1099-K showing the $120 as income, your receipt proves this was actually a loss. It's frustrating to deal with tax paperwork when you're already getting ripped off by their resale prices, but $120 is better than nothing, and the capital loss might actually help you come tax time!

Isn't TurboTax supposed to catch things like the Saver's Credit automatically? I thought that was the whole point of using tax software!

This is exactly why I love this community - so much helpful information! I had no idea about the Saver's Credit either. For anyone else who might be confused like Omar and I were, I found that TurboTax does have a section for retirement savings contributions, but it's easy to miss if you're rushing through the interview. It's usually under the "Deductions & Credits" section, and they ask about contributions to IRAs, 401(k)s, etc. The key thing is that even though Roth contributions aren't deductible, you still need to report them IF you're eligible for the Saver's Credit. It's one of those situations where the same contribution serves two different purposes - your financial institution reports it to the IRS via Form 5498 (so they know you made the contribution), but you also need to report it on your tax return to claim the credit if you qualify. Thanks everyone for clearing this up - definitely going to check if I missed out on this credit in previous years!

Quick tip for anyone with capital loss carryforward - remember that you need to use short-term losses first against short-term gains, and long-term losses first against long-term gains. Only after that can you use remaining losses of either type to offset the other type of gain. Then use up to $3,000 against ordinary income. The ordering matters for tax optimization.

One thing that's really important to understand is that capital loss carryforwards don't expire - they can be carried forward indefinitely until fully used up. This is different from some other tax provisions that have time limits. Also, if you're married and file jointly, both spouses' capital losses get combined on the joint return. But if you switch from married filing jointly to married filing separately (or vice versa), the carryforward rules get more complicated. The unused losses stay with whoever originally realized them. For record keeping, I'd recommend creating a simple spreadsheet to track your carryforward amounts by year and type (short-term vs long-term). This makes it much easier when you're doing your taxes each year, especially if you switch tax software or preparers.

I want to emphasize something crucial that others have touched on but bears repeating: you absolutely need to fix this excess contribution issue before your tax filing deadline to avoid the 6% excise tax penalty. Here's what you need to do immediately: 1. Calculate your actual eligible contribution: Since you had HDHP coverage for only 3 months out of 12, you're eligible for 3/12 of the annual maximum contribution limit. 2. Contact your HSA administrator to request removal of the excess contribution PLUS any earnings attributed to that excess. This is called a "return of excess contribution." 3. The earnings portion will need to be reported as income on your tax return for the year you receive the distribution. 4. Make sure your HSA provider sends you a corrected Form 5498-SA showing the adjusted contribution amount. The IRS does track this information through Forms 5498-SA from HSA providers and Forms 1095-B/C from insurance companies, so they will eventually catch discrepancies if you don't correct them voluntarily. Don't wait on this - the penalty compounds each year the excess remains in your account, and it's much easier to fix proactively than during an audit.

This is a really comprehensive thread with excellent advice! I just wanted to add one more resource that might be helpful for anyone dealing with HSA contribution issues. The IRS has Publication 969 which covers Health Savings Accounts in detail, including the month-by-month eligibility rules and excess contribution procedures. It's available for free on the IRS website and explains exactly how the proration works when you switch between HDHP and non-HDHP coverage mid-year. What's particularly useful in Pub 969 is the worksheet for calculating your maximum annual contribution when you have partial-year HDHP coverage. It also has examples of different scenarios (like switching from individual to family coverage, or changing plans mid-year) that might apply to your situation. For anyone who's more of a visual learner, the publication includes step-by-step examples that walk through the math for prorating contributions based on eligible months. It also explains the difference between the contribution deadline (tax filing deadline) and the deadline for removing excess contributions to avoid penalties. While the other suggestions for professional help are great, starting with Pub 969 can give you a solid understanding of the rules before you contact your HSA provider or file any corrected forms.

Great question! You're absolutely right that a roof replacement should be depreciated over 39 years, not 15. The qualified improvement property (QIP) designation specifically requires interior improvements to nonresidential buildings, and a roof is clearly exterior. However, I'd recommend looking closely at your project details. If you replaced any skylights, those might qualify for different treatment since they could be considered separate from the roof structure. Also, any insulation upgrades or ventilation improvements might be separable components with their own depreciation schedules. Since you can't use Section 179 this year due to income limitations, make sure you understand that this is an annual election. If your income situation improves in future years, you might be able to elect Section 179 for other qualifying property purchases. One more thought - if this roof replacement was due to storm damage or other casualty, there might be additional considerations for how to handle the tax treatment. But for a standard replacement, you're stuck with the 39-year schedule for the actual roofing components.

I've been following this discussion and wanted to add some clarity on the depreciation question. You're absolutely correct that the roof itself should be depreciated over 39 years as building property, not 15 years as QIP. However, I'd strongly encourage you to review your project invoices more carefully. Even though the overall project is a "roof replacement," there are often components that can legitimately be separated and depreciated under different schedules. For example: - Any new electrical work (lighting, outlets, panels) - typically 7-year property - HVAC equipment or ductwork modifications - usually 5-year property - Security systems or cameras installed during the project - 5-year property - Interior work done to access the roof (drywall repair, paint) - potentially QIP if it's interior improvements The key is having proper documentation. Your contractor should be able to provide a detailed breakdown showing labor and materials for each trade. This isn't about gaming the system - it's about properly classifying legitimate separate assets that happen to be part of a larger project. Given the $87k total cost, even identifying $15-20k worth of components with shorter depreciation lives could provide meaningful tax savings compared to treating everything as 39-year property. Also, don't forget that Section 179 elections can be carried forward to future years when your income situation improves, so keep that option in mind for next year's planning.