The form would be Schedule D and considered a sale of an investment property, assuming it wasn't used as a rental or other business activity. Have the cost, selling price, and purchase/sale expenses ready for your entry. It's possible you may qualify for the Foreign Tax Credit.
The home sale exclusion will not apply to the overseas property. As you indicated, any gain can offset the stock losses.
To enter your sale in TurboTax, follow these steps. Click this link for more information. Where do I enter Investment Sales?
- Open or continue your return.
- Navigate to the investment sales section:
- TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
- TurboTax Desktop: Search for investment sales and then select the Jump to link.
- Answer Yes to the question Did you sell any of these investments in 2024? (or Okay! to Time to kickoff your investments!).
- If you land on the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
To enter your home sale and receive the exclusion follow these steps.
- Open or continue your return.
- TurboTax Online/Mobile or TurboTax Desktop - Search (upper right) > Type home sale > Click the Jump to... link
- Continue to follow the prompts.
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