r2i forum

I need more clarification. What are "unreversed inclusions"? As a simple example. suppose at the end of my tax year, my adjusted basis is $150 , market value of the mutual fund is $120, I received $20 in dividends. I report $20 as income in Schedule B. Can I take $30 ($150-$120) as LOSS against my ...

I took an extension on my US taxes and am filling in 8621 for each Indian mutual fund that I own. I notice most are losses. There is only one small gain. QUESTIONS (1)Can gains and losses be offset against one another? (2)Since the net result is going to be loss, can I take a loss on my US taxes? (3 ...