My essential questions are two:
1.) My real estate investment was held for longer than one year before it was sold. Should I enter the foreign gain as long term capital gain? Why would I pay more IRS tax if it is long-term?
2.) The foreign capital gain tax rate I paid is roughly 30% which is lower than the current U.S. highest tax rate of 37%. Should I skip the entry for "High Tax Kickout" in Turbotax?
Sherman L.
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