pk
Level 15
Level 15

Deductions & credits

Assuming that what you are talking about is soemthing like a  mutual fund which has invested in foreign funds and therefore has foreign income on which foreign taxes were paid on your behalf. You are trying to get credit for that foreign taxes  paid.  Right ?

In such a case , your broker  and /or the back-up sheet to your  Broker's Consolidated Report will detail  the foreign  % of holding  for the  specific fund. ---- thus it will say  Fund XYZ --- various countries 13%.  You then multiply this percentage  by your total honding in that fund to come up with the value of your  foreign holdings  -- which generated the  foreign income.

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