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raviji100
New Member

If taxes are withheld in Australia on dividends declared by Ausrtralian companies, then are the same dividends tax free in the U.S,?

 
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Opus 17
Level 15
Intuit Approved!

If taxes are withheld in Australia on dividends declared by Ausrtralian companies, then are the same dividends tax free in the U.S,?

No, as a "US taxpayer" (US citizen anywhere in the world, or a non-citizen who lived in the US more than half the year) you are required to report and pay taxes on all your world-wide income.

 

However, if you also pay foreign taxes on the same income, you can report that in Turbotax for a tax deduction or credit.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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1 Reply
Opus 17
Level 15
Intuit Approved!

If taxes are withheld in Australia on dividends declared by Ausrtralian companies, then are the same dividends tax free in the U.S,?

No, as a "US taxpayer" (US citizen anywhere in the world, or a non-citizen who lived in the US more than half the year) you are required to report and pay taxes on all your world-wide income.

 

However, if you also pay foreign taxes on the same income, you can report that in Turbotax for a tax deduction or credit.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

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