- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
First of all, the tax you paid had to be based on foreign income to be allowable.
You have to report foreign income on your tax return to receive a foreign tax credit in the current year. Since you had a loss on your rental you may have no foreign income this year, in which case you won't be able to use the foreign tax credit, but you can report it as it can be carried over to future years when you may have foreign income.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 24, 2023
12:56 PM