pk
Level 15
Level 15

Deductions & credits

If you are trying to get foreign tax credit for foreign taxes paid on Mutual funds , you have to provide the foreign income from those funds ---- because  allowable foreign tax credit for the current year is based on ratio of foreign income to world income.  Most mutual fund brokers statements do identify  the allocated foreign taxes paid but not the foreign earnings --- they usually provide the percentage earnings from foreign sources and it is up to you to compute the actual foreign income  that was subject to foreign tax.