Which forms and field to use to report the sale of mutual funds in India?
Some places it says to report them as US stocks without 1099-B which does not seem right to me.
The correct place is which form/field exactly?
Would be grateful if someone can explain in TurboTax options and names (where to click, which option to use to fill out the sale)
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investment section - stocks etc.
what isn't clear is if the reporting is in US$ or not. If not, you must report into US$ based on the dates acquired and sold.
The investment section is for US stocks and investments, correct?
My investment was in an Indian mutual fund account. The cost and sale was in INR. Should I report that in the foreign income section, FBAR form etc? The profit was about $6200 but the value of the account exceeded $10K at some point in the year.
Also when reporting in USD, should I take the difference in INR and then convert, or should I convert both figures (buying and selling) in USD and then take the difference? I have not actually transferred any funds between India and US actually. The source was in INR, and the sale money is also in India only.
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