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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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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
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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