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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!!!

The IRS does lump all Roth IRAs together and treat them as a single account for the purpose of withdrawal ordering rules. You cannot choose to withdraw only from a specific account; all your Roth IRAs are aggregated.  The IRS mandates a specific order in which funds are considered to be withdrawn, which applies across all your Roth IRA accounts:    Direct Contributions: Your own direct contributions to any Roth IRA are always considered to come out first. These can be withdrawn at any time, tax-free and penalty-free. Conversions and Rollovers: Next come amounts from conversions and rollovers (such as from a traditional 401(k) or IRA). These are tracked as separate "pots" or layers, each potentially subject to its own 5-year clock for penalty-free withdrawal of the principal amount. Earnings: Finally, earnings on all contributions and conversions are considered to be withdrawn. Earnings are tax-free and penalty-free only if the distribution is a "qualified distribution" (generally after age 59½ and after the main 5-year earnings-tracking rule is met).  Even if you maintain separate physical accounts to simplify record-keeping for your own tracking purposes (which is a common strategy), the IRS views the money across all accounts as one pool and the mandated withdrawal order must be followed for tax reporting.