Hope I can get some advise here on my tax question.
I sold a foreign real estate last year 2021 which was purchased on 2005. I am trying to figure out the cost basis for the capital gain for the US tax filing purpose and documents /evidence that I nee to have.
* Foreign real estate purchased and sold in India and I did not receive any 1099-B hence don't haver any cost basis recorded.
* I paid 7% of the total purchase price for the stamp duty which was paid by purchasing through physical stamp paper on which purchase document recoded.. Can I the use then the purchase document as the evidence for the duty paid and include it in the cost basic
* I paid additional 4% for the purchase document registration under the Indian Registration Act with a sub-registrar. I don't have any evidence on that transaction however the registration fee is well documented in the Indian registration web portal. Would that be accepted as the evidence if I include it in the cost basis.
* Broker fee and Attorney fee paid at the time of the purchase but have no documents pertaining to that.. Can I include them in cost basis.
* Some home improvement was done but have no documents pertaining to that.. Can I include them in cost basis
* I already filed Indian tax return and incurred Capital loss on this sale hence no tax paid in the India on the sale. I assume this has no bearing on the long term capital gain calculation for the US tax filing purpose.. correct ?? Since I did not pay any tax in India, there is no foreign tax credit possible., correct ?
* Sale proceeding is deposited on my India bank account.. I assume then I need to file FBAR and FATCA Form 8938, correct ?
