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richard's_tax
Level 3

Foreign capital gains and form 1116

Are capital gains reported on a form 1099 from a US brokerage on the sale of ETF (ticker EFA) that only invests in foreign stocks considered foreign sourced capital gains for the purposes of Form 1116 Part 1, Lines 1a and 3d?  We are dealing with a US based investment (iShares) that pays foreign taxes on dividends that it passes to the investor.  But I'm not clear on the treatment of capital gains from the sale of the ETF.

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