In 2022, I sold an investment real estate property in India. I paid 21% Capital Gains Tax and had to file income tax in India.
In TurboTax, I entered the sale details in the "Investment Income" section. Date acquired, cost basis, date sold and sales proceeds.
Where do I enter information about capital gains tax paid in India to get credit for it in my US Tax Return?
Please see the TurboTax Help article Where do I enter the foreign tax credit (Form 1116) or deduction? for entry guidance.
You'll have the option to claim a credit or a deduction. In most cases, taking the credit works out better than the deduction. TurboTax will help you decide which one's best for you.
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