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Get your taxes done using TurboTax
The capital gains distributions are often not eligible for the foreign tax credit, because foreign taxes weren't paid for them by the fund. That's why the information isn't given and shouldn't be included on the Form 1116.
You can only take a foreign tax credit for the foreign income that is identified as having paid foreign taxes. That rarely includes the capital gains distributions and when it does the information should be provided by the broker.
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March 26, 2025
1:47 PM
1,417 Views