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Get your taxes done using TurboTax
The result may not be even. You will get credit for the foreign tax to the extent your US tax is the same on the foreign income. So, if the foreign tax on the foreign income was more than the US tax on it, you will have paid more tax to the foreign government than you get credit for on your US tax return. However, any unused foreign tax can be used in other years to offset US tax on foreign income in those years.
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March 10, 2025
11:29 AM