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Get your taxes done using TurboTax
Hi "Tl888":
Foxbat's tips worked for me here in the US, for my Foreign Inv Taxes. But see this relative to you as a foreign resident . . .
My daughter is a US citizen and a permanent resident of Australia. She has rental-property and investment income here in the US, and earned income there, where she pays Australian taxes.
Foxbat's tips worked for her, too. Make sure you employ separate Form-1116's for foreign investment income ("X" the box for "Passive category income") and earned income ("X" the box for "General Category Income.") Note: I used 12/30/2020 on one and inadvertently 12/31/2020 on the other -- didn't matter. Never used "various" for anything.
I am no expert. But this works.
‎April 4, 2021
8:23 AM