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How can I report stock sales (gains/losses) for stocks held on a foreign stock exchange in TurboTax?

I own stocks on India's stock exchange and file tax returns annually in India. In 2024, I incurred losses through tax-loss harvesting strategy. I have a few questions: 1. Since I don't receive a 1099-B form, how should I report these gains/losses in TurboTax? 2. If I claim these losses when filing tax returns in India, I assume I cannot claim them in the US. How should I report this in my US tax returns? 3. Do I need to report each individual sale and purchase?
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2 Replies
DaveF1006
Employee Tax Expert

How can I report stock sales (gains/losses) for stocks held on a foreign stock exchange in TurboTax?

If you are just reporting transactions that resulted in  tax-loss harvesting losses in India, you generally cannot claim them again in the US due to double taxation rules. The India-US Double Taxation Avoidance Agreement (DTAA) helps prevent duplicate tax claims.

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How can I report stock sales (gains/losses) for stocks held on a foreign stock exchange in TurboTax?

Thanks for your response, DaveF1006. Do you have pointers on how do I report these transactions in TurboTax without claiming losses? 

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