jtax
Level 10

Deductions & credits

FYI the term for "negative income" is a "deduction."

 

To claim a credit you need to walk through the foreign tax credit (FTC) interview. It is moderately complex. You don't automatically get to deduct the whole amount of foreign taxes. First the US must tax that same income, it must be an income tax (no social security, real estate, etc.). Secondaly, there is a limit to how much you can claim based on the proportion of your foreign income to your worldwide income. Sometimes you get it all, sometimes you don't depending upon your other income.  But TT will figure that you for you. Just carefully enter the information it requests.

 

See this FAQ for how to start the FTC interview.

 

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-the-foreign-tax-credit-fo...

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