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February 9, 2021
Question

Does the Live version tell me how to report stock sold in the US but bought and already taxed in Netherlands?

  • February 9, 2021
  • 1 reply
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I just don't want to be doubled taxed nor to fail reporting the sale. Stock was held for more than 2 years.

1 reply

February 9, 2021

Yes, TurboTax Live is an online product that lets you get help and guidance from a tax expert when preparing your taxes. When you use TurboTax Live, you can work with a tax expert whenever you need assistance. You can even talk to a tax expert live while you both look at your return.

  • TurboTax Live agents can help you with your stock entry and related credits/deductions so you don't get twice, like the Foreign Tax Credit.

To be eligible for the Foreign Tax Credit, you must be a U.S. citizen or resident alien or a U.S. nonresident alien who is a full-year resident of Puerto Rico.

 

You must have paid, accrued, or owe taxes on foreign income that is also subject to U.S. income tax. This foreign tax must be an income tax or a tax in lieu of an income tax that is imposed on you and is a legal and actual foreign tax liability.

 

 

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