Are the Foreign Transaction fees on my credit card tax deductible since they originate in the US and not in a foreign country?

3 replies
84 views

I recently traveled out of the country. There are numerous fees on my credit card bill for transactions and purchases made while I was gone. They are listed as Foreign Transaction Fees. Are these fees deductible?

TurboTax Deluxe Online

pk_Answer

Level 15

if they are business related -- yes. personal expenses that incurr foreign taxes are not deductible because the expenses are not.

Is that what you meant?

pk_

Answer

Level 15

if they are business related -- yes. personal expenses that incurr foreign taxes are not deductible because the expenses are not.

Is that what you meant?

Dance84

Level 2

I know this is an old thread. I am currently stationed overseas(military). My transaction are personal expenses. However, I am not here by choice. Will my fees be deductible? Or am I just gonna have to suck it up for the next few years?

AmyC

Alumni - Intuit

Probably. If the expenses are related to you and your job, no. If they are related to a business you are running, then yes. You may pick up a side hustle while there and then be able to deduct some of them.

@Dance84

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"