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rrafoth
New Member

canadian underused housing tax

I am a US citizen. I pay an underused housing tax in canada on my rental property. Is this deductible as a foreign tax and do I file it as a "general category income"?

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1 Reply
ThomasM125
Expert Alumni

canadian underused housing tax

If the tax was a property tax or income tax you can treat it as a foreign tax for purposes of the foreign tax credit or deduction. You may be able to get credit for it to the extent you paid US tax on foreign income during the year. Any unused credit could be carried over to future years. It would apply to passive income, not general category income.

 

[Edited 3/12/24 at 11:22 AM PST] @rrafoth 

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