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Deductions & credits
This is generally true, except when the income is "re-sourced by treaty". In the absence of a tax treaty, this income would not be eligible for the foreign tax credit. However, with a treaty that specifically addresses that the income is taxable in the resident state, it becomes "re-sourced by treaty" for purposes of determining allowable credits.
@stephnyc
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March 9, 2025
2:35 PM