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Thanks for your response. To clarify, I exited the country in Dec, 2021 and entered on F1 visa in Jan, 2022. I am not sure if that changes anything. I am filing through a CPA and will post here when I find an answer to this situation.

To calculate your Modified Adjusted Gross Income (MAGI) for determining Roth IRA contribution eligibility, you start with your Adjusted Gross Income (AGI) and then make specific adjustments. For Roth IRA purposes, you generally add back certain deductions and exclusions to your AGI, such as: 1. Any deductions you took for student loan interest. 2. Tuition and fees deduction. 3. Foreign earned income exclusion. 4. Foreign housing exclusion or deduction. 5. Excluded savings bond interest. 6. Excluded employer adoption benefits. 7. Deductible contributions to a traditional IRA. 8. Rental real estate losses if you actively participate in the rental activity. Rental real estate and royalty income or loss are already included in your AGI, so you don't need to add them separately to calculate your MAGI. Instead, focus on the specific adjustments listed above. If you're unsure about any specific adjustments, it might be helpful to review IRS guidelines or use tax software to ensure accuracy.

It depends. California has specific rules for taxing trust income, and apportionment depends on factors like trust residency, fiduciary location, and income source. Generally, California taxes all income from California sources, regardless of where the trustee resides.    Once you prepare the return, a K-1 will be generated to you, which will report the trust's income for you to report on your own personal tax return. On your own return, you can prorate the taxable income reported on the K-1 based on the days you lived in California.    

If you want to prepare your 2023 tax return using TurboTax you will have to use TurboTax Desktop.  If you started your 2023 return in TurboTax Online, but never filed it, see the following TurboTax Help Article:  How do I finish a prior-year return that I started in TurboTax Online?

The two rentals could both be Sch E, or one Sch E and one Sch C or they would both be on one Sch C. They are either: Sch C rentals where you are providing services or  Rentals where you just collect rent every so often.   IRS Pub 527 states "If you provide substantial services that are primarily for your tenant's convenience, such as regular cleaning, changing linen, or maid service, report your rental income and expenses on Schedule C (Form 1040). Substantial services do not include the furnishing of heat and light, cleaning of public areas, trash collection, etc."    Why are you saying you should have 2 Sch Cs?

Is the capital gain short-term or long-term? If it's long-term and if your total income, including the capital gain, is low enough, the long-term gain might be taxed at a 0% rate on your federal tax return. Most states do not give special treatment to long-term capital gain. This is just a guess. It's hard to tell without being able to see your tax return. There could be something else going on. (Don't post your tax return here. This is a public web site.) The income range for the 0% rate on long-term capital gain depends on your filing status, and it's based on your taxable income, not gross income, so it could be affected by adjustments and deductions. If your tax is calculated on the Qualified Dividends and Capital Gain Tax Worksheet, line 9 of the worksheet shows the amount that is taxed at 0%.  

You may be able to deduct margin interest expense on your Schwab investment account, as long as it qualifies as investment interest under IRS rules. Here’s how it works: Deducting Margin Interest Expense Investment Interest: Margin interest is considered investment interest if it’s paid on funds borrowed to purchase taxable investments. You can deduct this interest if you itemize deductions on Schedule A of Form 1040. Limitations: The deduction is limited to your net investment income for the year. Any excess interest can be carried forward to future years. Non-Deductible Interest: Margin interest used to buy tax-exempt securities is not deductible. The IRS rules specify that investment interest expense is only deductible if it is paid on funds borrowed to purchase taxable investments. Helpful Links Investment Expense Deduction - Charles Schwab Guide to Margin Interest Deduction on Taxes IRS Publication 550 - Investment Income and Expenses

If your 2023 income tax return was reported using TurboTax, you may use TurboTax to prepare an amended tax return.   If your return has been transmitted and accepted by the IRS, you may amend your Federal 1040 tax return.   If you used TurboTax Online, log in to your account and select Amend a return that was filed and accepted.   If you used the CD/download product, sign back into your return and select Amend a filed return.    See also this TurboTax Help.

You don’t have to wait to file 2024 unless you know there will be carry overs from 2023.   Sorry it's too,late to start a 2023 or prior online return or use the mobile app, either on Turbo Tax or the IRS. And too late to efile 2023. To do a prior year return you have to buy the Desktop program here, https://turbotax.intuit.com/personal-taxes/past-years-products You will need a full Windows or Mac to install it on.   If you have a simple return and want to file for free you can fill out the forms by hand.  Here are some basic forms..... Here is the 2023 1040 return https://www.irs.gov/pub/irs-prior/f1040--2023.pdf or if you want bigger type use 1040SR for Seniors, https://www.irs.gov/pub/irs-prior/f1040s--2023.pdf 2023 1040 Instructions https://www.irs.gov/pub/irs-prior/i1040gi--2023.pdf 2023 EIC and Tax Tables https://www.irs.gov/pub/irs-prior/i1040tt--2023.pdf Schedules 1-3 https://www.irs.gov/pub/irs-prior/f1040s1--2023.pdf https://www.irs.gov/pub/irs-prior/f1040s2--2023.pdf https://www.irs.gov/pub/irs-prior/f1040s3--2023.pdf Don’t forget your state. And you will have to print and mail your returns.  So be sure to attach copies of your W2s and any 1099s that have withholding on them.  You have to mail federal and state in separate envelopes because they go to different places.  Get a tracking number from the post office when you mail them for proof of filing. Then when you file for 2024 you need to enter 0 for the 2023 AGI since you are filing 2023 late.

I would suggest that you go back through his information to make sure that you answered everything correctly. Answering one question incorrectly will disqualify him from being your dependent.  As Fanfare has mentioned,  it could also be that your son no longer qualifies to be your dependent.    Generally, if they are under age 24, full-time students, live with you, and don't pay more than half of their own support, you can claim them as dependents.     If they had income, they can file their own returns, but they must state in their return that someone else is claiming them as dependents.     See the TurboTax help articles below for more information:   Rules for Claiming Dependents on Taxes   @futureislands818

New Jersey Gross Income Tax law does not adopt the federal income tax treatment of cafeteria plans as provided under I.R.C. Section 125. However, the New Jersey Gross Income Tax law has a very limited exclusion for one particular type of cafeteria plan, not including any salary-reduction plan. Since the New Jersey exclusion is limited, the value of cafeteria plan benefits typically is includable in New Jersey taxable wages and subject to Gross Income Tax withholding.

If your 1095-A is separate from your daughter's, you can just enter the one that has your information.. Since she is filing her own return, she can enter her own 1095-A.  It is only a shared policy if you are on the form that has people who are not on the same return on it. 

The foreign tax credit carryover only lowers tax on foreign income.  If the $120 of the tax you owe (or any portion of it) is due to foreign-sourced income then the foreign tax credit would help to reduce the tax due.   it does not reduce tax due on US-sourced income.