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Deductions & credits
Yes, let's answer each question individually.
- Any unused foreign tax credit will carry forward up to ten years if not used in the current year.
- The foreign tax credit is not treat4ed differently for a lump sum payment.
- You are asked to modify your total gross annual income to accurately reflect your income from all sources, both domestic and foreign.
- Yes, the sales of foreign company stock will be included under Gross Annual income.
Please reach out if you have additional questions.
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March 1, 2025
8:07 AM