turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Add foreign taxes in capital gain form

How can I add foreign taxes in my capital gain income please ? When I indicate "With long-term sales section, did not received 1099-B form" and I check "other boxes", I cannot see it.

When I do the same thing for my dividend income, the box 7 shows up and I can write the number.

I would like to indicate my foreign capital gain tax and especially flag this income as foreign based.

 

Thank you 🙂

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
pk
Level 15
Level 15

Add foreign taxes in capital gain form

@jean_sim3000  for   claiming foreign tax credit ---

(a) You have to use form 1116 --- you do this by  first click  "Deduction & Credits " tab;  then  from the list of credits & deductions , choose  "Foreign Tax Credit".  This will then walk you through filling out the form 1116

(b) Which country was the  sold property  in ?

(c) Are you a US person ( citizen/GreenCard / Resident for Tax purposes ) for the tax year ?

(d) How was the property used   -- ( your home / personal use prop or income /rental )?

 

Is there more I can do for you ?

DavidD66
Expert Alumni

Add foreign taxes in capital gain form

You do not enter foreign tax paid when you report capital gains.  You enter the foreign tax paid as follows: 

 

  • From Tax Home: 
  • Click on Search and enter "Foreign Tax Credit"
  • Click on "Jump to foreign tax credit"
  •  On the landing page, click on Continue
  • Continue to report your foreign tax paid and claim the foreign tax credit
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question