In this study, we obtain true stress–strain (SS) curves for a sheet specimen under consideration of local necking and material anisotropy. We first extract the SS curve up to the diffuse necking point from the tensile test load–displacement data. The curve's part after the onset of diffuse necking is extrapolated by the weighted-average method proposed by Ling [Y. Ling, AMP J. Technol. 5, 37–48 (1996)]. Initiation of local necking is predicted by means of the minor-to-major strain ratio in the specimen's center. We propose a criterion to determine the strain ratio at the onset of local necking and the major strain corresponding to the strain ratio at local necking. We complete the true SS curve by cutting off the SS curve at the major strains corresponding to the local necking or apparent fracture point. Finally, the effects of material anisotropy on SS curves are discussed.