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Deductions & credits
Yep, so simple. India’s must be as simple as Canada’s. All the basic information is picked up from the previous year’s return, I enter two pieces of info manually, review and e-file. Of course, by design the U.S. tax system regarding foreign credits is purposely complicated - it’s nowhere near one-for-one, you only offset a portion of the overseas taxes you paid. (Bad memories of when I first encountered 1116 before I got a computer and a tax program. Could they make it anymore complicated? Wait! They did!)
March 23, 2022
8:21 PM