@pk why do you say there needs to be a treaty for a US person to claim the FTC? I do not see that in IRC 901 et. seq. The only requirement is that the income be...
The way I would probably do it is to get a US extension for 2024 until 10/15/2025.
File the Columbian return in Aug/Sept 2025. At that point you know the forei...
>Exclusion of depreciation from Schedule B would not be a good idea at all, as this would lead to a very high >additional tax burden at the time of recapture ev...
Fair enough on rehashing.
Re: depreciation and FTC. See my prior comment and this elaboration. When the depreciation is recaptured (upon sale of the foreign pr...
@Stsxozwrote:
As for your final point "I wonder if people are seeing what they think should be deductible on 1116 part I line 2 rather than finding authority fo...
