DaveF1006
Expert Alumni

Deductions & credits

Yes, let's answer each question individually.

 

  1. Any unused foreign tax credit will carry forward up to ten years if not used in the current year.
  2. The foreign tax credit is not treat4ed differently for a lump sum payment.
  3. You are asked to modify your total gross annual income to accurately reflect your income from all sources, both domestic and foreign. 
  4. Yes, the sales of foreign company stock will be included under Gross Annual income.  

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