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Get your taxes done using TurboTax
if you are single you can claim up to $300 (married filing jointly $600) without filing form 1116 on passive income - dividends, interest, and royalties. this might avoid the limitation. if the form is required
the limitation is if your FTC rate is higher than your effective federal tax rate all you'll get is about the FTC based on the foreign income taxed at the effective federal rate.
‎April 30, 2021
1:20 AM