I have capital gain in Canada and reporting the foreign taxes paid on form 1116. the foreign tax worksheet states “amount for canada”. Is this reported in USD or CAD?

[gregordempster]

i paid taxes in CAD. Also, do I also have to report the capital gain in the income section, or only on form 1116?

[DoninGA]

All amounts entered on a US tax return is to be reported in US dollars.

Go to this IRS website for dollar to foreign currency yearly average currency exchange rates - https://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates

[DoninGA]

The sale that produced a capital gain is also reported in the Wages and Income section under Investment Income>Stocks, Mutual Funds, Bonds, Other

[gregordempster]

Great! thanks for clarifying.