pk
Level 15
Level 15

Deductions & credits

@sweerkaul  I see where you are  and this is caused by  your choosing to use itemized deduction -- I used standard deduction and thus did not see this  ----- so the options are   (a)  use standard deduction for your return , if that is to your advantage  OR (b)  if you are using  itemized deduction then your  

     (1) BASIS for the  foreign dividend income  ( assuming that this is from a mutual fund that  has invested in these  stocks/bonds in Israel ) is  your total  investment i.e. cost of purchase of  the Mutual shares plus  any re-invested dividends from the mutual funds etc.  multiplied by the  percentage of the bonds investment in Israel --- you will find this percentage  in the backup documentation from the broker or  ask the broker  that manages your account.

      (2) BASIS for the interest income is  your total  savings  at the Indian bank that is giving you the  interest.

 

Does this make sense ?

 

Stay safe 

 

Apologies for the delay in response

 

pk