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March 25, 2023
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Foreign tax credit and sale of overseas rental property

  • March 25, 2023
  • 1 reply
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I sold a inherited foreign rental property on which I paid Capital Gains Tax.   On Form 1116 is the income from the sale passive or general income?

    Best answer by MAK70

    Sales of real property would be in the passive category.  

    1 reply

    MAK70Answer
    March 26, 2023

    Sales of real property would be in the passive category.