You will enter $50,000 as the amount of Gross proceeds. Taxes are reported separately on Form 1116 so that you can receive the foreign tax credit.
For your Form 8949 and Form 1116 (Foreign Tax Credit) to line up, be sure to report the “Gross” amount on Form 8949. If you enter the “Net” amount (what you received in your bank account), you’ll end up counting the tax twice—as both a reduction in income and a credit—which isn’t allowed by the IRS.
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