[tarila]

I am planning to sell an apartment in India which I bought 25 years ago, for helping my Mother in law .I bought this property with NRI account and now It has apppreciated a lot and I am trying to find out about how to benefit from Double taxation based on tax treaty between USA and India, since I do not need the apartment anymore.
I am aware that I will be paying 20 % Capitol gain in India and then again in USA as I am a citizen of USA.So how can I get releif from Double taxation ?
Tarun

[MukatA]

On the U.S. tax return you will report sale on schedule D. You have long term capital gain and the maximum tax rate is 15%.
You will also file Form 1116 to claim credit for taxes paid in the U.S. So you will owe very little tax in the U.S. Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income