@DaveF1006 @RobertB4444 @shibupillai
Thank you for detail inputs, noted them for my turbotax usage in 2023
I have India mutual funds (three of them collectively $8000) since 2003, became US tax resident since 2008, hence my PFIC gains are from 2008-2023. I have never filed 8621 but showing them in my 8938 and FATCA and paying taxes on their interest.
Question : I sold all of them this year.
Do i need to fill for 8621 or just show the capital gains in schedule capital gains as its under limit $25000
Default election is 1291 excess distributions, Can I select late MTM?
Is there a software to calculate the Excess distribution and the deferred tax and interest?
