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Thank you very much, DanaB27, for your reply.     I will attempt to take your advice. Just to be clear, are you offering advise for the amended 2023 return or for my 2024 return?     You asked me about the state.  The state is NJ.  Clearly the state tax is too high.  I'm wondering whether this is a Turbo Tax error.  Hopefully, your advice fixes it and, if not, I hope there is a way to get Turbo Tax to fix the bug or to type in the correct numbers manually.   Thanks again!

If you override calculations in TurboTax, it can invalidate the terms of the 100% Accurate Calculation Guarantee.   In order for us to troubleshoot this issue and determine whether it should be reported for possible programming enhancements, you can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Desktop users:   From the black bar at the top of your screen, select Online Click Send Tax File to Agent Click Send on the message that pops up TurboTax will create a "sanitized" copy of your return information with no personal info Post the 7-digit token number here in this thread   Here are the instructions for TurboTax Online users:    Go to the black panel on the left side of your program and select Tax Tools.  Then select Tools below Tax Tools.  A window will pop up which says Tools Center.   On this screen, select Share my file with Agent.  You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number.  Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.     We will then be able to review your file to see what you are seeing, and we can determine what is going on in your return and provide you with a suggested resolution.   @fernando.miralles.wilhelm  @sandrom   

@Rick19744 Thank you! Are you saying that I should add the following line to my Section 751 Statement? AMT Loss on Sale: $4567   Besides our names, and social security numbers, the following info is currently on the Section 751 Statement: Sale Dates: 07/29/24 and 07/30/24 Partnership Name: Suburban Propane Partners, L.P. EIN: 22-3410353 Gain on sale attributable to Section 751 property: $3602 Capital loss on sale: $4567

You can file a part-year return for Connecticut and Massachusetts.  For the first part of the year, your Massachusetts will be nonresident income and you will report it on your Connecticut return and claim a credit for the taxes paid to another state.  Complete the Massachusetts return first so that you can claim the Connecticut credit.   Please post if you have questions while you are entering the information!  

You should have Form 4562 in your return.   It will be within your Schedule C if the assets were used in your business or Schedule E if the assets were used in your rental property, or Schedule F if they are Farm Assets.  There should also be a depreciation report if your return contains depreciable assets.     Use Form 4562 to:   Claim your deduction for depreciation and amortization. Make the election under section 179 to expense certain property. Provide information on the business/investment use of automobiles and other listed property. What is Form 4562?

Unfortunately, there is no way to do this other than excluding each one individually.  There is not even a way to just exclude them all and forego the credit, even if you qualify (because if you have a lot of sales this can take forever).  I hope this section is re-done in the future.

Yes. As you are entering the information from your Form 1098 in TurboTax, when you see the question, "Did you pay points in 2024 when you took out the loan?", select "We paid points when we purchased or refinanced to improve our main home in 2024" in order to deduct the points.    If you instead select "We paid points when we refinanced, purchased a second home, or opened a home equity loan in 2022", TurboTax will set the points up to be amortized.   Please see this tax tips article for more information on deducting points. Please see IRS Tax Topic 504 for further guidance regarding mortgage points.   Generally, the Internal Revenue Service (IRS) allows you to deduct the full amount of your points in the year you pay them. If the amount you borrow to buy your home exceeds $750,000 million ($1M for mortgages originated before December 15, 2017), you are generally limited on the amount of points that you can deduct. The IRS also imposes the following requirements to deduct mortgage points:   The mortgage must be used to buy or build your primary residence The points must be a percentage of your mortgage amount The use of points must be a normal business practice in your area The amount of points paid must not be excessive for your area You must use cash accounting on your taxes The points must not be used for items that are typically stand-alone fees, such as property taxes You cannot have borrowed the funds to pay for the points from the mortgage lender or broker The amount you pay must be clearly itemized as points on your loan documents If you aren't able to deduct your points in the year you pay them, you may still qualify to deduct them over the life of the loan.   @wjereb   

Do you have a business listed?  Go to the Business tab (top) Continue I'll choose what to work on "Business Income and Expenses"    START or UPDATE Select "Edit" for the business on the list  Scroll down to "Home Office Expense" under Business Expenses    

Because you were not eligible for any subsidy, $0 in column B is the correct amount.  You can't use the DHS tool because there is no amount that is applicable to your situation.  Moreover, any advance payment of the Premium Tax Credit is an excess payment of PTC.