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@Cavachon1 wrote:  that was also partially and intermittently rented over several years   At any time during your ownership, was the home NOT your "Principal Residence" (for example, you rented out the home for a while and you made another home your "Principal Residence" for a while)?   When it was partially rented, was the rented portion within the same building as your residence (for example, renting out a room), or was it a separate building?   When it was partially rented, was the rented portion a separate "dwelling unit" (such as a mother-in-law apartment, with its own entrance, kitchen, bathroom, etc.)?

Too late to download your data from ItsDeductible but you can use one of the alternatives going forward.   One is Deductible Duck - https://deductibleduck.com -  and there are others if you do a search.

See the NJ Resident Return 1040 Instructions booklet for Line 20a and refer to the Types of Retirement Plans. A TSP is similar to a 401(k) so you would want to follow those procedures.   Any earnings in the account above the amount contributed will be taxable income.   @agayed 

I generally agree but some companies are involved in more than one and it's only natural to concentrate on those that are generating the most revenue and profit.    In Intuit's case, that is NOT TurboTax.

@Cavachon1 ,  In general, rented/income property  gets a basis reduction by accumulated allowable depreciation ( whether recognized or not). Depending on your other income , rental income. rental expenses etc. you may also have suspended losses.  In your computation of gain all these factors will play a role. This gain will then be divided into two categories --- that portion due to accumulated depreciation will be treated as Ordinary income  and taxed at your marginal rate  ( Re-capture );  the rest of the gain is treated as capital gain and given capital treatment.  Thus the disposition of mixed use property  will generally  be taxed partly as ordinary gain and partly as capital gain -- priority being  ordinary gain ( as re-capture).   Does this make sense ?  Is there more I can do for you ?

Hello PK ji, nice to hear from you once again.   I entered the US in Aug-2024 and I am a non-resident alien.   The investement account was opened in 2022 and the position is from the same year- 2022. This is the first time that I have been asked to recertify the W8 form.   I dont intend to stay beyond Aug-2026 i.e. the two year period   Thank you!

@adityain2003 ,  (a) are you saying you entered the USA with J-1 sometime in 2023 or 2024 ? (b) Was this your first entry/stay in the US in the last three years i.e. through 2020 --- this is for determining if you are NRA or Resident for the tax year 2025 ( I am assuming you are talking about current calendar year) (c) When did you open your investment account and did you use W-8-BEN or what ? (d) Since there is a two year J  tax benefit limitation, did you plan to stay in the USA past 2025 or what?  I am assuming here that your J visa is for teacher/researcher category and not  student/trainee.   I will circle back once I hear from you --yes ?

@fege ,  generally, if the situation is that  (a) at least one has met the ownership requirement, (b) only one meets the 730 days of usage ( with a look back period of  five years  from the date of sale closing),  and (c) you have not used this gain exclusion in the last 2 years,  ONLY that person that meets all the requirement can exclude  up to $250,000 of capital gain from taxation.   Note  that if the prop. under consideration was used a income property  anytime  during ownership, then the  allowable accumulated depreciation must be  recognized as a reduction to basis and any due to this  must first be considered as ordinary gain ( re-capture), the rest of the gain is capital gain and eligible  for exclusion treatment. Based on facts and circumstances , there may be other "ands", "ifs" and "buts" applicable.   Is there more I can do for you ?

we are all terribly disappointed that TurboTax decided not to continue with its deductible. It has been so helpful when preparing my taxes. I researched and found a new program called Deductible Duck. I believe it’s too late to download your data from its deductible straight into Duck Deductible yeah that , but it is a system similar. It’s deductible that you can keep track of your charitable contributions  I strongly suggest you give it a try. Here is a link to the product. I have found it very helpful    

I upgraded to Windows 11 a few weeks ago and just tried to download TT. My screen says after I enter my License Code: "Which operating system do you use? PC/Windows (Not supported) Mac". I can only select Mac even though it's a Windows download/purchase. It doesn't make sense. Please help!!!