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Your net capital gain/loss is calculated by subtracting your capital losses from your capital gains (Schedule D). If you have a net capital loss, you can deduct up to $3,000 ($1,500 if Married Filing Separately) per year as a capital loss.  If your net capital loss is more than the yearly limit, you can carry the loss to next year's return as a capital loss carryover.   You have to look at your Qualified Dividends and Capital Gain Tax Worksheet (and maybe the Schedule D worksheet if you have collectibles or contracts) which is included with your return to see how the tax was calculated.    If you look at that worksheet, you’ll see that the calculation does separate long term and short term sales:   It subtracts your LTCG from your total taxable income. It calculates the tax on your "Ordinary Income" using standard brackets. It calculates the tax on your "Long-Term Capital Gains" using the lower preferential rates. It adds those two tax amounts together and this amount gets placed on Form 1040, Line 16.

In TurboTax 2025 for Mac, I’m not seeing any option under My Info to mark someone else can claim me as a dependent.  Also, that box is missing from the 2025 1040 and 1040 X.   Where is that option in TirboTax for Mac?   where does that show up on the actual return, since it’s no longer in the 1040.   Thank you.  

Under Estimated Tax Payments, should I use Additional Payments or Quarterly Payments for the checks from the UN? I think Additional Payments makes more sense.   The Self Employment tax appears to be for US citizens, not resident aliens like my wife.   I thought about e-filing with electronic debits for what we owe but how to account for the UN checks that will be processed after the return? So, there will be two checks for both the IRS and NY, one from the UN and the balance from us, so I think it would be wiser to mail the returns, along with the checks. And since I am mailing the vouchers and checks, I thought I might as well mail everything, Certified Mail with Return Receipt Requested.    Let me know your thoughts and thanks for the advice.

There's a question in the Rental Section interview, asking if you 'actively participate' that allows you to claim rental loss against other income. You might be able to deduct up to $25,000 of passive activity loss from nonpassive income, such as wages. However, the $25,000 amount is gradually phased out if your modified adjusted gross income is more than $100,000.   Losses will continue to carry over until you sell the property if not used, which will then reduce your capital gain on the sale proceeds.    Here's more info on Rental Property Deductions.   @rainagalbiati     

I have the desktop 2025 version (Windows) but do not see a  table heading "Charity Name" , and in my list of charities on the Step by Step view, I cannot click on the top of the list and have it sort in alphabetic order. Last year, 2024 Windows, I was able to do this.

If you took the Standard Deduction on your 2023 or 2024 federal return (the years the check is based on), this check is not taxable for federal purposes.   The IRS only taxes state refunds/rebates if you deducted your state taxes on Schedule A.  If you took the standard deduction, however, you received no such benefit (the refund is tax-free).   This check is not taxable by New York State regardless of whether you itemized or not.   Enter 1099-G NYS Tax Refund: Open or continue your return. Under Federal tab, Click on Wages & Income. Scroll down to Other Common Income, and Click on Start/Revisit next to Refunds Received for State/Local Tax Returns (Form 1099-G). Click "Yes" when asked if you received a state/local refund in 2025. Enter New York (for State). Enter 2024 (This check was based on your 2024 filing eligibility). Enter the amount of the check (e.g., $200). Enter $0 for Total Tax Withheld. Continue until you see "Let's check if your 2023 New York refund is taxable." Select "No" when asked if it's a standard refund.   Enter "$0" If the program asks for the "Taxable Amount" (and you took the standard deduction in 2023).   You can check if this Worked: Check the "Tax Summary" or preview your forms: The amount should not appear on Line 8 (Other Income) if you indicated it was non-taxable due to the standard deduction.   Check your state return for a Subtraction Adjustment. The $200 should be listed as a subtraction so that NY does not tax you on it.

Check you spam or junk folder, also wait at least 5 minutes for the email to arrive.   You should also verify that your email is correct.      What if I'm having trouble with my filing verification code?

@MarilynG1 :  It doesn’t work. The issue seems to be that the system allows correct filling of form 8960 with itemized deductions but not standard deductions  token number [removed]-66171869   thanks, Junosmom. (Don know why my response shows as jb183- that should lead you to the correct token)