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Krishna Doss
March 5, 2025
Solved

Foreign MF capital gain tax

  • March 5, 2025
  • 2 replies
  • 0 views

I have foreign (India) capital gain from MF & stock investments. Are they treated same way like capital gain tax from US MF & stock investments. My total investment in foreign MF is <$50K.

Best answer by DianeW777

Yes, they are treated the same way on the US federal tax return as any stock and mutual fund transactions. If you must also pay tax to India then you may be able to use the federal tax credit or deduction.

2 replies

D
DianeW777Answer
March 6, 2025

Yes, they are treated the same way on the US federal tax return as any stock and mutual fund transactions. If you must also pay tax to India then you may be able to use the federal tax credit or deduction.

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    M
    MAK70
    March 6, 2025

    Yes, you can make the entries in Investments and use the same Long and Short Term.  

     

    To enter as investment sales:

    Under Federal Wages& Income, select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) under Investments and Savings.

    1. Did you have investment income in 2024? YES
    2. Let's import your tax info  Enter a different way
    3. OK, let's start with one investment type Other Continue
    4. Tell us more about this sale  Name and Continue
    5. Now, enter the sale information. 
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