I sold some stocks in a foreign country, I made some capital gains. Where and how do I need to report it? Will it be treated as ordinary income or capital gains?
If ordinary income, will I have to pay state tax on it as well?
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You will report the foreign capital gains the same way you would capital gains from U.S. accounts. They will be treated as capital gains, not ordinary income. Your gains will be included in your state taxable income, and subject to state income tax. To Enter in TurboTax:
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