corporate return request - new client owned and sold foreign property I have the calculation for the gain/loss but I do not know where to show the foreign taxes paid at the time of sale? How do I show on the return?

property was used a full rental through out it's investment.  Previous accountant put it in the corporation but there is no evidence that the corporation owned it. So I am concerned that this was prepared wrong originally.

Answer

karyn,

For disposal of foreign property, you need to enter the proceeds and disposition in schedule S6,  and report the Foreign tax paid on schedule S21 non-business foreign income.

Hope this helps.
Hardev
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