Hi,
Reviving an old but good thread. I am in similar situation where I sold an inherited property in France. French IRS has automatically taken their share. It surprisingly wasn't too bad like maybe around 12% of the gain. Property was help 20 years.
I have entered the sale under income. This made my owed amount in TT skyrocket by close to $10k.
I am working on Entering the foreign tax credit (1116). I had read that it would offset my tax bill increase (the $10k) but it did not.
Any idea where I may be mistaking?
Thank you!
