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Diego1989
New Member

How and where to fill Foreign Partnership Interest gains?

My wife and I moved from Europe and she had 1 share in a Foreign Partnership Interest from the company she worked for. 

The partnership was sold in 2023 and she received some gains after the purchase. 

She doesn't fit into any of the 4 categories for Form 8865, and she did not received any K-1.

How does she need to fill the gains of selling the share of her foreign partnership interest?

 

Thank you for the help. 

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1 Reply
ThomasM125
Expert Alumni

How and where to fill Foreign Partnership Interest gains?

If she realized a gain on the sale of her partnership share she will have to report that on her tax return. It would be reported in the Wages and Income section of TurboTax, then Investments Sales, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... 

 

Choose Other for the category of investment sold:

 

Enter the sale information by listing the sale price and cost basis of the share sold:

 

 

If there was any foreign tax paid on the sale, you can see if you qualify for a foreign tax credit by choosing the Foreign Taxes option under Estimates and Other Taxes Paid, in the Deductions and Credits section of TurboTax.

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