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You still report the $49K capital gain, not the net after taxes. But there is a deduction or credit for foreign taxes paid that should offset some or most of the effect of double taxation.
You still report the $49K capital gain, not the net after taxes. But there is a deduction or credit for foreign taxes paid that should offset some or most of the effect of double taxation.
Here's how to enter the foreign tax you paid on the sale of stock in TurboTax Online.
Since you probably have other foreign income, when you get to the screen that says "Reporting Foreign Taxes Paid," be sure to click the "special instructions" link and read the special instructions for multiple categories of foreign income.
The income from the sale of stock is in the passive income category.
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