Due to late payment of estimated taxes of foreign country (India), when I filed my taxes in the foreign country, I had to pay some interest in addition to the tax to the foreign country. Now, when I claim for foreign tax credit while filing US tax, can I claim tax credit on that interest amount too, or can I claim credit only for the tax amount?
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No, you cannot claim the interest, you can only claim the tax itself. It's the same policy that applies to state taxes, interest and penalties are not deductible.
No, you cannot claim the interest, you can only claim the tax itself. It's the same policy that applies to state taxes, interest and penalties are not deductible.
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