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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.

Once you enter your information for the Child and Dependent Care credit on your federal tax return, the program will use this information to automatically populate the NY IT-216 (Claim for Child and Dependent Care Credit) form within the state return section.    Enter Child and Dependent Care Expenses info: Open or continue your return. Under the Federal tab, Click on "Deductions & Credits".  (or you can search for "child care expenses," and then click on "jump to child care expenses" link). Scroll down to the "You and Your Family section, click on Start/Update next to "Child and Others Dependent Care Credit". Enter your child care expenses.  

Hi..... I'm in process of preparing my return in Turbo. I want to file as Head of Household. My divorce agreement was not finalized as of 12/31/25. However, I meet all the requirements for HOH per the IRS. In the section About Your Household......it asked what my marital status was. I checked off/selected Married... and under that I selected Plan to File Separately or as HOH. But as I go through the return it thinks I'm filing Married Filing Separately. It has not asked me any questions about the qualification criteria for HOH. What am I doing wrong? Thanks, Mark

Yes, short term (ST) or long term (LT) does matter, because short term capital gain will be taxed as your tax rate while long term have tax favor treatment. You can find out ST or LT by looking at sell date and acquisitions date, or look at the summary page on Form 1099. 

Since you work a hybrid schedule (2 days in MA, 3 days in NH), here is how to handle that income and divide it.   1. What "Income from Non-Taxing States" represents This amount is typically the portion of your Box 1 (Federal) wages that was not included in your Box 16 (MA) wages. In your case, it represents the income earned while physically present in New Hampshire. Why it matters: Massachusetts only has the right to tax you on income earned while you were physically present in the state. Since NH doesn't tax you, that portion of your income remains tax-free. 2. How to apportion it When TurboTax asks you to apportion or "allocate" these amounts, you should treat the "Income from Non-Taxing States" as 0% Massachusetts income.  On the apportionment screen:The MA Job: You will apportion this by working days. If you worked 2 days out of 5 in MA, your percentage will be roughly 40%. The "Non-Taxing State" entry: Set the "MA Portion" of this specific line to $0. This tells the software that this income was earned entirely outside of Massachusetts' jurisdiction. 3. Verification Checklist To ensure your return is accurate and won't be flagged by the MA Department of Revenue: Total Working Days: This should generally be around 240–260 days (excluding weekends, holidays, and vacation). Days in MA: Only count the days you were physically in the office or a client site in Massachusetts.   4. Keep a Log Massachusetts is notoriously aggressive with audits for NH residents claiming remote work. If you receive a "Notice of Change" letter later this year, you will need to provide. A calendar or log of days worked in each state.  A letter from your employer confirming your hybrid/remote work arrangement is extremely helpful. @tphammy98