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Get your taxes done using TurboTax
You use the yearly average of foreign currencies from the IRS for calculating the dollar amounts.
You enter the interest from India in Schedule B as bank interest.
You can split the interest depending on the number of people if it is a joint account.
Yes, you can take credit for the taxes paid in India after including the income in the tax return.
- Open your tax return
- Search for foreign tax credit
- Click on Jump to
- Enter the information
‎April 18, 2022
11:49 AM