Your spouse’s “job-related” business expenses are subject to the 2% Adjusted Gross Income deduction limitation.  A contribution to a recognized non-profit charity, however, is not limited this way.  If we assume that your cost and the fair value of the donation are equal, and if we assume you did not make charitable contributions approaching 20% of your Adjusted Gross Income, you would receive a deduction for the fair value of the property donated.  However, with TurboTax you can try it both ways and use the best answer. ... View more

Lisa995 is correct.  You can show a negative number in Line 21 with the caption, “Distribution to Nominee YYY, SSN xxx-xx-xxxx.”  The negative number on Line 21 will adjust the income of the reported payee to the correct amount.  The reported payee will issue a Form 1099-MISC to the nominee payee for nominee’s share of the distribution.  You can enter a negative income adjustment with the following menu path: Federal Taxes Wages & Income Less Common Income Miscellaneous Income Start Other Reportable Income Start Other Taxable Income Description = “Distribution to Nominee YYY, SSN xxx-xx-xxxx” Amount = -$xxx TurboTax will transfer this to your Form 1040, Line 21, Page 1. You can e-file with this approach because the disclosure is on the face of the return at Line 21.  Consequently, you do not need to attach a statement. ... View more

It depends on whether you are a trader or an investor.  If you are a trader you should add the commissions and fees to the purchase price of the currency.  You will recover these costs when you sell the position at a gain.  If you sell the position at a loss, these costs will increase your loss. If you are an investor, you can deduct these expenses in the Other Deductible Expenses section of Other Deductions and Credits as Investment Expenses.  You can enter the Description and Amount for these fees.  See the attached screen shot.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             ... View more

The rental property was never a personal residence because you did not live in it for two of the five years preceding the date of sale. The rental property would not be a capital asset so the gain would not be capital gain.  There would be no exclusion of gain, either.  If you have a gain it would be ordinary, including depreciation recapture, and would be taxable for Federal.  With respect to your state tax, the gain on the disposal of real estate is generally taxable by the state where the real estate is located, not your resident state.  The state gain calculation may be different from the Federal calculation. [Update] Your resident state will tax all of your income, including out-of-state gain.  Usually the resident state grants a tax credit for taxes paid to the non-resident state; but since Texas has no income tax, this will not be the case. ... View more

You do not have a realization event for the decrease in value of the shares.  Many assets increase and decrease in value over time.  To make it into your tax return, the loss must be realized and recognized.  A sale accomplishes both of these.  You would need a sale to bring this loss into your return. ... View more