How to report sale of mutual funds in India on tax return

Forum|Forum|1 year ago
March 16, 2025
1 reply
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Which forms and field to use to report the sale of mutual funds in India?

Some places it says to report them as US stocks without 1099-B which does not seem right to me.
The correct place is which form/field exactly?
Would be grateful if someone can explain in TurboTax options and names (where to click, which option to use to fill out the sale)

Not A Product Question

Mike9241

Level 15

investment section - stocks etc.

what isn't clear is if the reporting is in US$ or not. If not, you must report into US$ based on the dates acquired and sold.

Mike9241

legolas2025Author

Level 2

The investment section is for US stocks and investments, correct?
My investment was in an Indian mutual fund account. The cost and sale was in INR. Should I report that in the foreign income section, FBAR form etc? The profit was about $6200 but the value of the account exceeded $10K at some point in the year.

Also when reporting in USD, should I take the difference in INR and then convert, or should I convert both figures (buying and selling) in USD and then take the difference? I have not actually transferred any funds between India and US actually. The source was in INR, and the sale money is also in India only.