1041-US: Entering foreign capital gains and losses (FAQ)

Alerts and notices

Question

Where do I enter foreign capital gains and losses?

Answer

After you enter the capital gains and losses on Screen Income in the statement dialog for the Capital gains or (losses) field (or another field applicable to Schedule D), enter foreign capital gains and losses in the Foreign source: short-term capital gain or (loss) field and the Foreign source: long-term capital gain or (loss) field on Screen 1116. Foreign capital gain / loss worksheets are calculated based on entries in the capital gain / loss fields. The appropriate lines of Form 1116 will be adjusted as necessary.

Related topic: 1041-US: Form 1116 FAQs