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maria-hakonen
Level 1
February 4, 2025
Question

Do deductions in "Amounts Related to Foreign Financial Assets" include taxes I paid from my interest and dividends to the foreign country?

  • February 4, 2025
  • 2 replies
  • 36 views
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    2 replies

    S
    Alumni - Expert
    SabrinaD2Alumni - Expert
    Alumni - Expert
    February 4, 2025

    The "Amounts Related to Foreign Financial Assets" deductions typically do not include taxes paid to a foreign country on interest and dividends. However, there is a possibility that you can receive a foreign tax credit or deduction for these taxes.

     

    For more detailed information, you can refer to the IRS guide on Form 8938

     

     

    S
    Alumni - Expert
    SabrinaD2Alumni - Expert
    Alumni - Expert
    February 4, 2025

    The "Amounts Related to Foreign Financial Assets" deductions typically do not include taxes paid to a foreign country on interest and dividends. However, there is a possibility that you can receive a foreign tax credit or deduction for these taxes.

     

    For more detailed information, you can refer to the IRS guide on Form 8938

     

     

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