Deductions & credits

@pk

 

I'm aware that I'm eligible for FTC, and I'm familiar with form 1116. What I'm unsure if I can offset the cost basis using the foreign capital gains tax,  lawyer's fee and seller's fee as expenses. This will only affect the state tax that I pay, since my federal capital gains tax will be $0 because of the FTC.

 

Thank you for the heads up for those forms.