I am a California resident. The sale of an inherited property in India, held for over 10 years, resulted in capital gains. I paid capital gains taxes in India. This capital gain has to be declared on the federal return but I can take a foreign tax credit for taxes paid in India. My question is about California state tax return. California treats capital gains as regular income. So I would have to declare these gains as income. What is not clear if there is a provision to take credit for taxes paid in India as in the federal return. There is mention of credit for taxes paid in other states here: https://www.ftb.ca.gov/forms/2022/2022-540-s-instructions.html but no mention of foreign tax. Is there some other provision to take advantage of taxes paid to other jurisdictions in California?
