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taxmath16
New Member

Are the Foreign Transaction fees on my credit card tax deductible since they originate in the US and not in a foreign country?

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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Accepted Solutions
pk
Level 15
Level 15

Are the Foreign Transaction fees on my credit card tax deductible since they originate in the US and not in a foreign country?

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?

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3 Replies
pk
Level 15
Level 15

Are the Foreign Transaction fees on my credit card tax deductible since they originate in the US and not in a foreign country?

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?

Dance84
New Member

Are the Foreign Transaction fees on my credit card tax deductible since they originate in the US and not in a foreign country?

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?

AmyC
Expert Alumni

Are the Foreign Transaction fees on my credit card tax deductible since they originate in the US and not in a foreign country?

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.

 

@Dance84

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