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Deductions & credits
Is the end result the same? According to P915 page 2 foreign social security payments in some cases are treated as annuities. If so, there is a cost basis that would reduce the taxable amount (that is, the 'taxes' paid into the foreign social security system). if I report on 1040 Line 21, would i just report the taxable portion?
‎June 3, 2019
10:30 AM