Hello,
I will be consider as resident of India and USA for the tax year 2023. I have Indian income from the bank interest that I have to declare in USA tax return. I will be paying the taxes on this interest in India as well.
How I can avoid paying double taxes?
The article related to form 1116 on turbo tax says I don't have to fill this form is income is through interest.
Foreign tax credit without Form 1116
Situations exist that allow you to claim the FTC without filing Form 1116, if the income concerned meets the qualifying definition.
For example:
- If all your foreign-taxed income was 1099-reported passive income, such as interest and dividends, you don't need to file Form 1116,
