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Deductions & credits
One more question if you would be so kind:
Hungarian law uses the date of contract (10/24) as the date of sale, even though my wife only received the money for the sale last week. So my wife will have to file a 2024 Hungarian tax return and pay the capital gains tax by April 2025 (she will do it next week). This will be before we file our US 2024 1040. Do we include the Hungarian capital gain and foreign tax paid on our US 2024 return since the sale was in 2024 or do we put the capital gain and foreign tax paid on our 2025 return since she paid the tax on the capital gain in 2025 (even though it was for 2024)?
Thank you.
‎February 3, 2025
4:46 PM