How can I enter my paid taxes in China for the sale of my investment rental property? I entered the profit as investment income.

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Choose the Foreign Taxes option under Estimates and Other Taxes Paid, in the Deductions and Credits section of TurboTax:

Indicate that you need to complete Form 1116 when asked. It's usually better to take the foreign "Credit" option over the "Deduction." Choose the countries you paid the taxes to.

Enter a description for the income and the amount, then enter the foreign taxes paid.

You will get a credit for the foreign taxes paid or accrued to the extent you have US tax on your foreign income. Any unused credit can be carried back one year or forward up to ten years.

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