So, please confirm if this is correct: I should pay estimated taxes on :
-the appraised value of the inherited property (though less than $100,000)
plus
-(the sale value of the property) minus (the appraised value of the property) minus (estimated foreign tax credit on the taxes we paid to the foreign country)
Can I subtract any lawyer fees needed to receive the inheritance or accomplish the sale?
I read that I need to file IRS Form 1116 to get the FTC. Is that something I get from a bank in that country? Or do I fill it out myself using the receipt as a reference?
