I am a US Citizen living in the US for 20+ years. I inherited a property in India in December 2022 (that's when my name was added to the property card).
I sold the property in June 2024.
Per the CA in India:
Fair Market Value of property in December 2022= $ 20,000 (i don't have any document showing this information)
Selling Price of Property in June 2024= $ 36,000 (i have documents from sale of the house)
Repair Cost= $2,000 (don't have all the receipts anymore)
Foreign Tax Deducted at source =$3,800 (I have copy of the TDS)
Here are my questions:
1. How do I report this sale of house on Turbo Tax Deluxe or do I need to buy Turbo Tax Premium?
2. What documents do I need to have to show as proof to IRS for reporting this sale of house? Does IRS typically ask for documents?
3. Anything else I need to know before I file?
