Asking for a relative who has foreign income in capital gains and interest.
She paid 1100$ foreign tax so she can claim that tax credit on 1116
But what if she can not give details of each trade for capital gain .because foreign broker(India) don't give 1099-B and also don't give trade details of individual trade like IRS wants to mention on 8949
So last year she chose to enter that income as other income and mention a statement to explain that this is from Indian capitgal gains and Indian bank interest
But someone said it does not comply with tax law ...well if she does the same thing this year i.e. 2021 - what can be penalty if IRS choose to flag it and send a notice?
also when using premier desktop version - is there anyway we can write a statement to mention that other income mentioned on SCH 1 is Indian capital gain and interest like she did last year (last year she used a paid tax preparer and that tax preparer's software had the option to write a statement explaining what that other income is - attached to SCH 1)
