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Deductions & credits
This is the first year, my foreign tax credit is more than $1000, so I need to choose "Simplified Foreign Tax Limitation" . Once I choose this, I can't file my tax online. I don't need to pay any ATM. Should I still select the Simplified Foreign Tax Limitation or I can just choose the Non-Simplified AMT and wait until I need to pay ATM ( unlikely)?
Going forward, I will receive Pension income from Canada every year, so I will expect my FTC around $1000 each year. In my case, should I choose the Simplified foreign tax limitation or Non-Simplified AMT?
Thanks.
‎April 26, 2021
6:58 PM