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Level 2

Question

Can I claim foreign tax credit when I am still expecting a tax refund of paid foreign taxes?

Forum|Forum|7 years ago
June 1, 2019
4 replies
47 views

I do not yet know the exact amount of the refund. Is it advisable to deduct an estimated refund from the taxes that I report as having paid for foreign tax credits?

TurboTax Deluxe Online

Level 13

You can, but you will need to include the refund in your income for next year.

Therefore, it may be easier to just not claim it on this year's return.

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Level 2

Thanks a lot, I hadn't thought it would be an option to report as income next year! I just thought I would have to file an amended 2018 return in any case with an corrected amount of paid taxes.