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Deductions & credits
Pk, one more thing
to answer 'How much of the income you reported was qualified dividends or long term capital gain?'
Per 1116 instructions, I must adjust the amount.
In US, I fall under 15% capital gain tax.
In India, tax was 20%.
Do I adjust it by multiplying it by .4054 (for 15% Capital gain rate) or .5405 (20% Capital gain rate)
‎April 5, 2024
9:05 PM