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Investors & landlords
Foreign taxes paid on the rental income should be entered separately under foreign taxes paid in the deductions and credits section of TurboTax to be applied as a foreign tax credit (Form 1116) against your net rental income or other similar foreign passive income.
Foreign taxes paid on the land or building would be entered as an expense on the Schedule E (Rental Income/Expense) section of the program.
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May 18, 2021
5:42 PM