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Deductions & credits
The credit is based on the percentage of your income that is earned in foreign countries versus your total income. For instance, if you earned 50% of your income from foreign sources and 50% domestically, then you would only be able to get a credit for 50% of your foreign Tax. That way, you are getting credit only on the portion of your US income tax that is based on the foreign income.
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‎April 5, 2021
3:55 PM