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DavidD66 Thank you for the reply. I am not materially participated in because I am a limited partner but it is considered active income and QBI income, although I supposed not earned income. I also have personal trading account that is mark-to-market too. I also want to know how to carry over that loss if it happens in the future. Code is zz. Which form can i find a box that says carryover amount so that I can make sure it is being carried over.

Here is what ChatGPT says, it i is in line with your option number "3": How can I enter the gross sale proceeds of foreign land sales as different amounts in federal and California filing? In federal the foreign tax paid is not deducted from gross, but that can be claimed as FTC. For California the gross has to be reduced by the foreign tax paid. How can we manage to show the amounts for the same sale differently for federal and California filing ?   ChatGPT said: To handle this correctly, you need to report the same foreign land sale with different gross proceeds and tax treatments for federal and California because of their differing tax rules: Summary of the Issue: Federal: Report full gross proceeds. Foreign tax paid is not subtracted from the gross sale; instead, you claim it as a Foreign Tax Credit (FTC) or deduction. California: Does not allow the FTC, so the foreign tax paid must reduce the gross proceeds (treated like a selling expense). How to Do This in Tax Software (like TurboTax, Lacerte, ProSeries, or similar): You’ll need to use a state-only adjustment method. Here’s how: 1. Enter the full gross proceeds for the federal return: Enter sale on Form 8949 and Schedule D using the full gross proceeds. Then claim the foreign tax paid as a credit or deduction (typically on Form 1116). 2. Adjust the California return to reflect reduced proceeds: Because California doesn’t allow the FTC or deduction for foreign tax paid, you’ll need to reduce the gain manually: Option A: Adjustment on CA Schedule D or 540 Use Schedule CA (540) – this form reconciles federal and CA income. On Part II, line 8z ("Other income adjustments"), enter a negative adjustment to reduce capital gains for the foreign tax paid. Example entry: "Adjustment for foreign tax paid on land sale – CA doesn’t allow FTC" Option B: Enter a different amount in the CA column of the 8949 or D Some professional tax software lets you enter a CA-only column for 8949/D differences. If so, reduce the proceeds by the foreign tax paid for the California version only. Additional Tip: Keep good documentation explaining why the gross proceeds differ between federal and state. If the difference is questioned, you can point to California’s disallowance of the FTC and the guidance in FTB Pub. 1001.  

Income is not all taxed at the same rate. If you are single, taxable income up to $11,600 is taxed at 10%, and the amount over $11,600 up to $47,150 is taxed at 12%.   See: What is My Tax Bracket? for more information on other filing statuses.

The Massachusetts nonresident income is indicated on the Form 1-NR/PY.     The Massachusetts taxable income of a part nonresident individual is calculated as if all income were earned in Massachusetts.  The Federal Adjusted Gross Income (AGI) will be adjusted using the Massachusetts adjustments to arrive at AGI from all sources. The AGI from all sources is used to determine the taxable income. After the taxable income is calculated, it is prorated using a percentage of the AGI from Massachusetts sources divided by the AGI from all sources. This prorated tax is the Massachusetts tax.    

Follow these steps in your New York return:s   Click on State on the left-hand side Continue to your New York return When you reach the section called Take a look at New York credit and taxes, click Earned Income Credit It will ask you if you were a non-custodial parent, click Yes, and continue through the following pages to answer the questions for your IT-209

"If you have an amount in column A, then the amount in column B can't be zero.  You must enter the Second Lowest Cost Silver Plan (SLCSP).    The SLCSP is the second-lowest priced health insurance plan in the Silver category that was available when you applied for insurance at Healthcare Marketplace.    You can use the Health coverage tax tool to figure to get the SLCSP if it is not on your Form 1095-A.   Healthcare Tool"   See TurboTax Expert MonikaK1s original answer to a similar question HERE.