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posted
‎February 19, 2020
11:28 AM
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‎February 19, 2020
11:28 AM
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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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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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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.*