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Should I get a Foreign Tax Credit if I received income and paid tax in Mexico on a bonus payment even though I didn't work there in 2024?

 
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Mike9241
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Should I get a Foreign Tax Credit if I received income and paid tax in Mexico on a bonus payment even though I didn't work there in 2024?

if you received payment that was included in your taxable income in 2024 and paid foreign income taxes on it in 2024 you should get a tax credit for it. how much depends on various factors. If you used the foreign earned income exclusion you are not entitled to the credit.

 

 

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1 Reply
Mike9241
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Should I get a Foreign Tax Credit if I received income and paid tax in Mexico on a bonus payment even though I didn't work there in 2024?

if you received payment that was included in your taxable income in 2024 and paid foreign income taxes on it in 2024 you should get a tax credit for it. how much depends on various factors. If you used the foreign earned income exclusion you are not entitled to the credit.

 

 

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