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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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I have a capital gain of $ 504 from a foreign mutual fund I

Customer Question

I have a capital gain of $ 504 from a foreign mutual fund I purchased 7 years ago and soold this month. I did not have any other distributions.I understand form 8621 has to be filed and my question is regarding making the entries. I think I leave line 15a blank and start entries from line 15f. I enter the gain on 15f,income allocated to 2016 in 16b, total prior year tax(aggregate increase in tax) on 16c and interest on 16f. I will also attach a statement. Kindlylet me know if this is correct.If not what is wrong.
JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?
Customer: I think I have briefly stated the problem. I just want a confirmation if I am correct.
Submitted: 4 months ago.
Category: Tax
Expert:  emc011075 replied 4 months ago.

Hi. My name is ***** ***** I will be happy to help you.

Usually, selling a foreign mutual fund doesn't require 8621. How did you invested in this fund? How was the sale reported to you?

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