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If the stocks are part of your compensation, there should be reference to the compensation element on your w-2?    You most likely have RSUs that vested immediately or a stock award - both of these would be considered employee stock.   Verify what kind of plan it is with your employer at Microsoft and/or check out the article below.     How do I find and enter the cost basis for my RSU or ESPP sale?      

Probably not as many as you are hoping for. There is not a first time home buyers credit on a Federal return. That ended in 2010. If your state has such as credit, you will be able to enter it when you prepare your state return.   Buying a home is not a guarantee of a big refund.  Your deductions for homeownership combined with your other deductions (if any) must exceed your standard deduction to change your tax due or refund. If you purchased your home late in the year, you do not even have a full year of home ownership deductions.   Your closing costs on your new home are not deductible except for prepaid interest, prepaid property tax or loan origination fees.  There are no deductions for appraisal, inspections, title searches, settlement fees. etc.   Your down payment is not deductible.   Your homeowners insurance for fire, hazard, flood, etc. is not deductible for your own home.   Home improvements, repairs, maintenance, etc. for your own home are not deductible.  (With possible exceptions for certain energy credits) (BUT——do make sure you keep careful written records/invoices, etc.  of any improvements you make to the home for someday when you sell it.)   Homeowners Association  (HOA) fees for your own home are not deductible.   It is very hard for a lot of people to use itemized deductions now that the standard deduction is so much higher.  Your home ownership may not have any effect on your tax due or refund, especially if you purchased the house late in the year.     Standard Deduction Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach.  The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you   .  2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)     You can go to Federal>Deductions and Credits>Your Home to enter mortgage interest, property tax and possibly mortgage insurance premiums paid in 2025.  These will be shown on a 1098 that your lender provided in January.

To report interest income received - Click on Federal Taxes (Personal using Home & Business) Click on Wages and Income (Personal Income using Home & Business) Click on I'll choose what I work on Under Investments and Savings On Interest on 1099-INT, click on the start or update button Online returns - On the screen Did you have investment income in 2025? Click on Yes On the screen Let's import your tax info, click on Enter a different way On the screen OK, let's start with one investment type, click on Interest and Continue On the screen How would you like to upload your 1099-INT? Click on Type it in myself

Depending on what state you are in, TurboTax fees can be taken from your state or federal refund, which ever comes first.    Additionally, your refund could be offset. The IRS and State Governments have the ability to offset a refund to pay for certain past due debts.  You generally will receive a letter stating what the offset was for.    The IRS provides a toll-free number, (800) 304-3107, to call for information about tax offsets.   If the IRS "Where’s My Refund" tool shows your funds were released but you haven't received them, please note that Intuit does not hold these funds. You will need to contact the Santa Barbara Tax Products Group (SBTPG) directly: Website: SBTPG Support  

Thanks, PK.   Yes, I believe that the HTKO did not come into effect. I believe Turbotax needs to generate two Form 1116's fot this situation but I am seeing only one.   Country - India   My status – US Citizen; My tax home from 1995 – present is the US.   Country of sale– India Capital gains (Passive income – is likely to be reclassified as high tax income and moved to General category based on my reading of Form 1116 instructions)   Property was used as residence by my mother who passed away in 2018. I owned 50%. (Gross proceeds – $ 170,100; original basis - $38,000, and adjustment in colum g 8949-$ 93,332). Original basis was as of 1995 for this portion. I inherited another 16.67% on her death in 2018. (Gross proceeds – $ 56,813 ; original basis - $23,779, and adjustment in column g 8949-) Basis was as of 2018 for the inherited portion. Totally, capital gain was 38,768+ 33,034 = $ 71802 Tax withheld - $36,871 Other foreign income (Passive Income Category) Interest - $1972; Tax withheld - $464 Worldwide Income – $ 264,000; Foreign: $ 73,774   My US tax liability without FTC - $35,732   Let me know if you need any other information

Based on this information, it looks like you might be claiming an education credit for this person.  If you go back to the deductions and credits section of TurboTax and click on Update for Expenses and Scholarships (Form 1098-T), you can scroll through each page until you reach a page that will ask if the person was enrolled in college full-time, at least half-time or less than half-time.   To qualify for the American Opportunity Tax Credit, a student has to be enrolled for at least half-time in order to get this credit.  The 1098-T that you received from the college will have a box 8 checked for at least half-time student.  If the student is a less than half-time student, they could still qualify for the Lifetime Learning Credit.

Steps to Enter in TurboTax (Online & Desktop) Go to the Deductions Section: Click on Federal > Deductions & Credits. Scroll down to Charitable Donations and click Start or Revisit next to Donations to Charity. Enter the Charity Info: Answer Yes to "Did you give any money to charity?" Enter the name of the organization. Choose the Donation Type: When asked what you gave, select Stock. TurboTax will ask for the details of the stock (Ticker symbol, number of shares). Date Given: The actual date the transfer was completed. Date Acquired: The date you originally bought the stock. (Must be > 1 year for full FMV benefit). Cost Basis: What you originally paid for the shares. Fair Market Value (FMV): The average of the high and low price on the day the donation was completed. Form 8283:   If your total non-cash donations for the year (including this stock) exceed $500, TurboTax will automatically generate Form 8283. You will need to provide a few more details about how you acquired the stock (e.g., "Purchase").