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Thanks for your response.  Just a comment on TurboTax...a screen with the question whether or not the distribution that I took applies to all the RMD for 2025 (the distribution was greater than the RMD), a portion, etc did not come up 3 times.  I had to create a new entry for this same form and then the appropriate question came up so that I could not be double taxed on the distribution and the RMD amount entered.

@ask4gems Sure it is - Click on Federal Taxes (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Click on I'll choose what I work on (if shown) Scroll down to Less Common Income On Miscellaneous Income, 1099-A, 1099-C, click the start or update button   On the next screen - On Long-term care account distributions (Form 1099-LTC), click the start or update button  

Thank you for the information! This is helpful.    This is where I stand: I have entered the income and expenses (1/3rd of all costs like Taxes, Premiums, Repairs, Interest, Maintenance, etc.) information on the Schedule E. Now, I am confused as to how the Mortgage interest in the Deductions & Credits section is entered.  Do I enter 2/3rd of the amounts? 

Since you are on Desktop, this is the most direct way to alleviate the issue.   Click the Forms icon (top right).  In the left sidebar, find and open the 1040/1040SR Wks (the Federal Information Worksheet). Scroll down to Part VI - Standard Deduction. Look for a checkbox that says "Standard deduction is limited (can be claimed as a dependent)". If that is checked, Uncheck it. If it won't let you uncheck it, look for a checkbox right above it that says "Itemized" or "Change my deduction to itemized" and check that to force the software to ignore the standard deduction issue entirely. Also if there is a Standard Worksheet for dependents listed, delete that also. Now close the program and open back up again to see if everything is restored to normal.

If you held the security for more than a year, it is long-term.   Less than a year is short-term.    The calculation for a capital gain or loss is straightforward: it starts with the selling price of your capital asset minus its cost basis (what you originally paid for it).    TurboTax does this automatically.  All you have to do is enter the form 1099-B.   How is a capital gain or loss calculated?   Where do I enter or import a 1099-B?   Your total capital gains for the year minus your total capital losses results in either a net capital gain or a net capital loss.   Short-term capital gains (gains on assets held for one year or less) are taxed as ordinary income. Long-term capital gains (gains on assets held more than one year) are taxed at a more favorable rate than ordinary income. Net losses are deductible, but only up to a maximum of $3,000 ($1,500 if Married Filing Separately). Any capital losses you couldn't deduct this year can be carried forward and deducted on future tax returns. This is called a capital loss carryover.

If you are asking about direct deposit information for your Detroit Forms, they don't have a direct deposit field in the paper version. The information is strictly listed on the Michigan 1040 form since they handled the Detroit city forms as well.   Make sure when you mail, use the Lansing address provided in your instruction booklet for "Returns with Payments" or "Refunds," rather than an old Detroit city address, since the state processes both the state and Detroit city returns.    

The deduction has an income phaseout floor of $500,000.  30% of anything over $500,000 is used to reduce the deduction.  The deduction can never go below $10,000.   So if you make $600,000 the deduction returns to 10K.  Anything between 500K and 600K will have a phaseout amount.   @kunalpradhan 

Generally, to qualify for head of household filing status, you must be able to claim a qualifying child or qualifying relative as a dependent.   Make sure you have a qualified dependent entered to claim the Head of Household status.  @user17703937934    That link has more info.  

Thank you for your patience.  I have made the changes you recommended.  It’s all making a little more sense now. To answer your question, neither myself nor my husband is currently under HDHP coverage, and we haven’t been since around the middle of 2023 when he retired. I didn’t want to believe that we would be double taxed -- pay regular income tax for a second time in addition to an annual excise tax -- on the excess contribution amount of $2829, but it does appear that that is the case.  (I am basing this on the “caution” and the paragraph following on “Deducting an Excess Contribution in a Later Year” in Pub 969.) Again, thank you so much for your time in clarifying this point for us. One last issue -- I am checking the self-only box for HDHP coverage in forms mode on Form 8889-T only for purposes of forcing TT to recognize that the form is completed.  It doesn't appear to change the amounts on the forms mentioned above.  Please let me know if in your experience this is an acceptable work around? Thanks.