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Level 1
June 3, 2019
Question

We have a question on reporting sale of a foreign real estate property for which taxes were paid to the host country. How do we report such a transaction and get credit?

  • June 3, 2019
  • 1 reply
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    Level 2
    June 3, 2019
    The foreign tax section is more complicated than in previous years. I found this only after going through the foreign tax credit section with walk-through, and then going back through the forms and making the changes there. The issue is that it is expected that passive income will be the main income that tax is paid on. You have to go through everything and then enter the tax as linked to general income