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Deductions & credits
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.
‎December 31, 2022
4:31 PM