@dhirenk2003 , assuming that you are US citizen/Resident ( Green Card )/ Resident for tax purposes, you are taxed on world income. Thus sale of property/ asset is taxed and therefore TurboTax will go through AMT questions --- please tell me more about the sale of property:
1. How did you acquire the prop --- buy / inheritance
2. How did you use the property -- own residence / residence of relatives ( i.e personal use / 2nd home )/ rental income
3. when did you acquire , when did you dispose of the prop, did you sell to a relative or at arm's length
4. did you have to pay capitals gain to the foreign taxing authority ( India ? ), and other expenses such as transfer taxes etc. Note that some countries like India uses indexing before computing capital gains and the longterm rules are different -- US does not use indexing and therefore capital gains may be different for US tax purposes.
Namaste
pk
