Explore the 1,000’s of tax questions answered by professionals.

Back to list


Related User


Are the taxes paid to a foreign country for the sale of a property in that country deductible from the gains made from the sale of the property when calculating capital gains tax for the US.


The BIDaWIZ Team's Answer:

You wouldn't directly deduct the foreign taxes paid from US capital gains and losses. Rather, you can claim a tax credit for those foreign taxes paid on IRS Form 1116. This amount then flows to Line 47 of your Form 1040.
References: IRS Publication 514 and Internal Revenue Code Section 901
State: Pennsylvania

The BIDaWIZ Team



  • Currently 4.6190/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
1547 Ans.