Would i be able to enter this sale in TurboTax? - YES
If i do pay cap gain taxes to Canada, is there a way to report that in turbotax and get credit for the taxes paid to Revenue Canada? - YES
When you sell property or real estate in the U.S. you need to report it and you may end up owing a capital gains tax. The U.S. is one of only a few countries that taxes you on worldwide income.
Since you may also owe taxes to the country in which the overseas property lies, but you may be able to avoid paying capital gains taxes to both countries by claiming the foreign tax credit, which is a dollar-for-dollar credit on taxes paid to one of the countries.
U.S. taxes on sales of inherited foreign property has an extra step. Once a decedent passes, an inherited foreign property often receives a stepped–up basis, which is the property’s fair market value on the date the original owner passed away or deeded the property to you. Once that’s converted into USD, your capital gains would be any income you made over that original amount.
Reporting the sale of foreign property can be tricky, depending on where the property is, whether the income from the sale was deposited into a U.S. or foreign bank account, and other factors. For example, if the sale was made in a currency other than USD, you’ll have to go back and calculate the exchange rate at the time the sale was made.
Just like you would with the sale of a U.S. property, you will need to file IRS Form 8949 and a Schedule D (and a Form 4797 for rentals). If the income you made from the sale of your foreign property was deposited into a foreign bank, you may have to report it on a Foreign Bank Account Report (FBAR) by using FinCen Form 114. You may also need to file FATCA Form 8938.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/foreign-tax-credit-and-other-tax-implicat...
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