- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
So again: US Citizen, currently permanent tax resident in Australia - so paying Australian tax on most US income (Interest, Dividends, Capital Gains, SEP/IRA Distributions). Aust/US have a Tax Treaty to minimize double taxation, although US can additionally tax some income up to a % limit.
Note: The Turbo Tax functionality for Foreign Tax Credit allows only allocation of non-US income to the foreign tax paid functionality - the USA is not an available option to assign income to foreign tax paid.
Perhaps this has to be done outside TT ?
‎October 29, 2024
5:44 PM