Activity Feed
- Posts
- Replies
-
Thanks so much for your help with this (and your patience as we are not used to dealing with capital gains on sales of overseas property)!
-
The client's ordinary income (i.e., without the capital gain) is within the 22% tax bracket and with the capital gain is in the 24% tax bracket. The capital gai...
-
The client had ordinary W2 income from US sources in 2023 and part-year rental income from India until they sold the property. According to the Form 1116 instru...
-
The sellers were the two partners. They sold their partnership interests. There were no assets other than goodwill.
-
Calling all Form 1116 experts!Client sold rental property in India October of 2023. Client has a long-term capital gain along with recapture of depreciation fro...
