1. U.S. citizen,
2. India - land plot sales.
3. Property aquired as gift, held as investment.
3. Tax witheld after sale - I am guessing TDS.
I also had other gains :
1. India bank deposit interest , and TDS held on that interest
2. India Rental Income and TDS held on that income
So in form 1116 for the following lines
Part I
Line 1a - I included here Total of Land Sale price + Rental gross Income + Bank interest
Line 2 - I included the Total of Land Cost price + Rental expenses
In Par II
I put in Rental + Land + Interest Taxes withheld
Then I let TurboTax calculate the rest.
Earlier years, I had used a tax attorney, and he had claimed similar land sale capital gain as capital gain distribution, and hence had a capital gain distribution deduction. Turbo tax did not do this.
1116 and 514 publications are pretty confusing,
