US capital gains tax on sale of foreign inherited property I have some questions on foreign income:
1) How is the capital gains on the sale of a foreign inherited property, (on
which the foreign tax has already been paid) to be reported?
2) Entering this gain in Schedule D does not appear to link it with credit for
the foreign tax that has already been paid.
3) The US and the foreign country have a tax treaty preventing double
taxation. But I'm assuming it still has to be reported, with the US capital
gains tax on this item being offset by the foreign capital gains tax already
paid.
Has anyone been through this or know how / where to enter these items?
Thanks |