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Retirement tax questions
Why was there a foreign tax being withheld on an IRA ? You can claim a foreign tax credit only if you pay to both the foreign and US government. If you are not reporting the distribution to the IRS and pay taxes, you do not qualify for the credit.
You might need to contact your fidelity to verify the reason and when you normally receive the documentation. For US tax purposes, they are required to issue you a Form 1099-R in the year when you take out the distribution.
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‎April 1, 2021
5:16 PM