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Deductions & credits
My suggestion is to wait and report your capital gains and claim your Foreign Tax Credit on your 2025 tax return since these were paid in 2025. This way the capital gains and foreign tax credit are reported in the same year and avoid confusion with the IRS.
The reason I say this is that if you claim a foreign tax credit as accrued in 2024, but not report your capital gains that were paid to you, the IRS may question you why your capital gains weren't reported in your 2024 return. You will wish to keep the reporting consistent so there won't be any confusion anywhere.
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‎February 4, 2025
10:52 AM
1,586 Views