I would greatly appreciate some help on this.
I live in the US, last year, I sold a foreign company stock in that country and also paid local tax in that country, how do I file foreign tax sale ( I saw TT help saying just treat as a regular stock sale)
how to deduct the local tax I have paid in that country from my capital gain tax paid in the US? (should I use itemized or tax credit?)
You could put it in as a 1099-B even though you don't actually have a 1099-B and the foreign tax paid as a credit under less common income.
You can also report both as:
- Wages and Income
- Less Common Income
Someone else may have another solution.