I recently traveled out of the country. There are numerous fees on my credit card bill for transactions and purchases made while I was gone. They are listed as Foreign Transaction Fees. Are these fees deductible?
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if they are business related -- yes. personal expenses that incurr foreign taxes are not deductible because the expenses are not.
Is that what you meant?
if they are business related -- yes. personal expenses that incurr foreign taxes are not deductible because the expenses are not.
Is that what you meant?
I know this is an old thread. I am currently stationed overseas(military). My transaction are personal expenses. However, I am not here by choice. Will my fees be deductible? Or am I just gonna have to suck it up for the next few years?
Probably. If the expenses are related to you and your job, no. If they are related to a business you are running, then yes. You may pick up a side hustle while there and then be able to deduct some of them.
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