I am not sure if the answers being given are correct. Foreign mutual funds are considered PFICs, and I am required to report the foreign MF sale on form 8621 part IV. I know TT does not support form 8621; but the form 8621 instructions say the proceed of sales must be reported as ordinary income.
This means the gains are taxed as income. In fact they are LTCG, but if I report them as suggested here, then they are doubly taxed (once as income, once as LTCG).
Obviously I (and other posters) would want to report them as LTCG....but how?
