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Deductions & credits
You would include the sale in your return as the sale of an investment. Please follow these steps:
- Click on Federal > Wages & Income.
- In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.
- If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far. Click on the Add More Sales link.
- If you haven't already entered some investment sales, you will see a screen, Did you sell any investments in 2017? Click the Yes box.
- Click the No box on the screen Did you get a 1099-B or a brokerage statement for these sales?
- On the screen, Choose the type of investment you sold, mark the button for Everything else and click Continue.
- Enter the NET proceeds on the next screen--Some Basic Info About This Sale.
- Continue through the screens, entering the requested information.
To enter foreign taxes paid, please follow these steps:
- Click on Federal > Deductions & Credits
- Scroll down to the Estimates and Other Taxes Paid section and click on the box next to Foreign Taxes.
- On the Foreign Tax Credit screen, click on the Yes box.
- On the Before We Begin screen, click on the Yes box.
- On the Do You Want the Deduction or the Credit screen, click on the Take a Credit box.
- Continue through the screens. You will be asked to select the country where you earned the income. [You can select various if you worked in more than one country.]
- On the Other Gross Income - [country] screen do not re-enter your W-2 income.
- On the Foreign Taxes Paid - [country] screen, enter the amount of foreign taxes you paid.
- You will be brought to the Country Summary. Click Done.
- Continue through the [many] screens until you come to Foreign Tax Credit Carryovers. Enter your carryovers and click Continue.
- You will eventually be brought
back to the Foreign Tax Credit Summary. If you need to report
foreign tax paid on another category of income (e.g. investment)
click on the Add a Foreign tax link. Otherwise click Done.
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‎June 4, 2019
10:50 PM