Y-FRA
Returning Member

Retirement tax questions

But in this case it seems that an annuity also does not fit this definition for a passive income. However IRS publication 514 (Foreign Tax Credit) clearly tells that annuity shall be treated as passive income on the form 1116 (please see p. 12 in case publ. 514 for 2020). Could you please explain this. I would highly appreciate your opinion and explanations.