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 🙂
You'll need to sign in or create an account to connect with an expert.
@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 ?
You do not enter foreign tax paid when you report capital gains. You enter the foreign tax paid as follows:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
j_pgoode
New Member
Ian B
New Member
epb140
New Member
sergeantguam
New Member
freddytax
Level 3