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I have rolled over Foreign Tax Credits from stock market investments for years and cannot use them. Should I just take a deduction now to get something out of them?
I have about $2,400+ to use up, but it seems that I will never be able to use a tax credit for this. Am I able to simply write this off now as a deduction (knowing that this is worth less this way) this year even though I have no foreign revenue from my investments? Did not want these to slowly expire (10 years, correct?) and get nothing for this at all.
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May 27, 2020
5:13 PM