@jimmyjoe1 , if one assumes that you are a US person ( Citizen / GreenCard / Resident for Tax purposes ) and that you owned capital assets ( land / building / what have you ) in Ireland , then as a US person, because you are taxed on world income, you need to report this ( these ) transaction(s).
1. Under business or personal income ( depending on your version of TurboTax ) you tell TurboTax that you have 1099-B 04 1099-S ( even though you do not have these),
2. Continue the next screens to enter the details --- When did you acquire the asset, when did you dispose off the asset , the cost basis ( acquisition cost +any commissions + any improvements LESS any allowable depreciation under US laws ), Sales Proceeds ( Sales Price LESS commissions etc. Less Sales Expenses including title insurance, transfer tax etc. etc. )
3. Once this is all entered and TurboTax has computed Capital and ordinary gains, then under deductions and credits , choose foreign tax credit --- this will walk you through filling out form 1116 and provide with a foreign tax credit that is limited based on a ratio of Foreign Income to World Income -- always a ratio of less than 1. -- the unallowed portion of the foreign taxes paid can be carried back one year or forward till extinguised -- but the catch is you must have foreign income in those years. You can also use the foreign tax as a deduction if you itemize ( but again the SALT limit of $10,000 applies.).
Hope this helps -- id there more I can do for you ?
