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New Member
posted Mar 22, 2025 9:26:33 AM

How to report gains in Mutual funds

Hello @pk 

I love how thoroughly you answer the queries. 

I have followup question on this topic. How do we file gains from Mutual Funds investment in India?

1) Do we follow the same way we report US capital gains, under Investment Income (1099-B) and select - "Short or Long Term - did not receive 1099-B form"?

2) Fill in FBAR

3) Any other forms to be filled?

Thanks for your support in advance

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1 Replies
Expert Alumni
Mar 27, 2025 2:34:45 PM

Yes, you would report this as a US capital gain under investment income. You will also need to fill out FBAR if the aggregate totals of your foreign financial accounts exceed $10K.

 

Also you may need to report form 8938  if the value of your foreign assets are  $50,000 on the last day of the filing year or if the balance of your assets exceeds $75,000 at any time during the year. ($!00,000 or $150,000 if Married Filing Jointly).