vk29
Level 2

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)