I am a U.S citizen living in a foreign country for a decade. How do I report mutual fund sales from foreign country and deduct the cap gain taxes paid to forein country?

raghuv — Tue, 04 Jun 2019 19:35:32 GMT

You report your mutual fund sales as if you had received...

KarenJ — Tue, 04 Jun 2019 19:35:33 GMT

You report your mutual fund sales as if you had received a 1099-B under investment income, Stocks, Mutual Funds, Bonds, Other.

Then enter foreign tax credit in the search box at the top of the screen and click on Jump to foreign tax credit at the top of the responses.

Enter foreign tax credit in the search box at the top of the page and click the Jump to link
Click 'Yes" you paid foreign taxes
Click through the screens regarding foreign interest and dividends
Click yes that you have reported all your foreign income already in TurboTax
Click that you want to take a credit
Answer question about the Simplified Limitation Election
Choose income type for stock sales - it will be Passive income
Enter the name of your foreign country
Enter description - Stock sale
Enter Gross proceeds from your sale (not the gain)
Enter your taxes you paid on your Stock sales in the box "Other income"
Go through the remainder of the foreign tax credit screens until you are done.

topic I am a U.S citizen living in a foreign country for a decade. How do I report mutual fund sales from foreign country and deduct the cap gain taxes paid to forein country? in Deductions & credits

I am a U.S citizen living in a foreign country for a decade. How do I report mutual fund sales from foreign country and deduct the cap gain taxes paid to forein country?

You report your mutual fund sales as if you had received...