Possibly, When Americans buy stocks or bonds from a company based overseas, investment income including interest, dividends, and capital gains are subject to U.S. income tax. However, the foreign home country may also impose a tax.
The Foreign Tax Credit allows you to use all, or at least some of those foreign taxes to offset your US liability.
To post the Foreign Tax Credit Online:
- Deductions & Credits
- Scroll to Estimates and Other Taxes Paid
- Select Foreign Tax Credit
- Follow the interview
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