pk
Level 15
Level 15

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@Spino  I am not sure I fully understand your situation.  What I get is  that  (a) you a US person  ( citizen/Resident/Resident for tax purposes); (b)   tax home is USA; (c) have invested through US broker in stocks/ bonds; (d) have dividends  and stock sales  which may have attracted foreign taxes to the tune of US$ 900; (e) want to take credit for taxes paid to foreign tax administration.  Please correct me  if I have misunderstood / misconstrued the situation.

Generally, what you are trying to do is ameliorate the effects of double taxation since  USA taxes you on world income and the foreign tax admin may also tax the same  income component as  in-country sourced income.  The  Tax treaty between  US and that country  will often address the specific  modalities of reducing the burden of double taxation and thus the income source country becomes  germane.

 Foreign Dividends  ( generally non-qualified)  are in a different category ( Passive) than the  foreign Capital Gain/loss and may also require adjustments  because of treaty considerations.

Thus  really need  more info  on the exact situation   ( facts and circumstances ) that you are referring to.  

Note that  for foreign tax on dividends  there is  the  safe harbor treatment  available.  Also for  capital gain/loss  , especially  in real-estate there  may be differences in how the gain/loss is computed.

 

May I suggest a reading of the instructions for  form 1116.   If you need more help, please consider  describing  the situation in more detail ( with  fictitious  / approximate  dollar figures ).

 

Await your answer